Blockchain Technology and Manufacturing Industry: Real-Time Transparency and Cost Savings
- Authors
- Ko, Taehyun; Lee, Jaeram; Ryu, Doojin
- Issue Date
- Nov-2018
- Publisher
- MDPI
- Keywords
- blockchain; cost saving; distributed ledger technology; manufacturing industry; real-time transparency; sustainability
- Citation
- SUSTAINABILITY, v.10, no.11
- Journal Title
- SUSTAINABILITY
- Volume
- 10
- Number
- 11
- URI
- https://scholarworks.bwise.kr/gachon/handle/2020.sw.gachon/3123
- DOI
- 10.3390/su10114274
- ISSN
- 2071-1050
- Abstract
- Blockchain technology has been recommended for the sustainability in the manufacturing industry, owing to its benefits in terms of real-time transparency and cost savings. To verify this, we first examine how firms can employ distributed ledger technology by adopting blockchain technology to achieve real-time transparency and cost savings. We also review the current blockchain technology applications in the financial industry and supply chains to explain this technology's mechanisms for enabling real-time transparency and cost savings in the manufacturing industry. Finally, we theoretically compare the profits of manufacturing firms in two managerial delegation games under a duopoly situation. This theoretical model suggests that the real-time transparency and cost savings secured by blockchain technology improve the profitability and competitiveness of manufacturing firms, which, in turn, assure the sustainability in the manufacturing industry.
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Collections - 경영대학 > 경영학부(글로벌경영학) > 1. Journal Articles
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