Feasibility Study of a Blockchain use in Nutraceuticals Supply Chain

Abstract

The application of blockchain technology (BCT) is still in its nascent, and most of them are about finance; newer attention of BCT is its role in the supply chain. This work provides a feasibility study and adaptability with expectations on the use of blockchain in the nutraceuticals supply chain (NSC), objectives gauged were the feasibility, adaptability and opportunities of BCT in the NSC. The current work constitutes a theoretical framework based on two sets of questionnaires posed to prospective consumers and other possible stakeholders; the challenges and opportunities were determined through analysis of the interviews; do the stakeholders get the transparency and the trackability as they desire, is it possible to deploy supplementary information via BCT, could this be used to track nutraceuticals flow with enhanced information sharing. Further, a private blockchain as the Hyperledger Fabric framework could enhance the attributes desired to bring in the traceability and avoid counterfeit and fake sale of Nutraceuticals.