BLOCKCHAIN TECHNOLOGY AND INDUSTRIAL INTERNET OF THINGS IN THE SUPPLY CHAINS

Abstract

At the end of the second decade of the 21 st century, the blockchain technology and the Internet of Things entered the focus of interest of all Internet users and numerous companies. Since blockchain technology has been proven in the production and trade of crypto-currencies, many potential users have noted that this technology has a potential to be applicable in many areas, practically as an operating system where the Bitcoin was only one application. This paper analyzes a possibility of using blockchain technology and the Industrial Internet of Things to improve supply chains. Particularly they are discussed the impacts of these two technologies on changes in supply chains and the effects that can be achieved by their application, as well as some examples of their use and potential use. It is also analyzed the investment situation concerning applications of the blockchain and the Industrial Internet of Thing in the supply chains. In conclusions, the authors point to the rapid development of blockchain technology and the Internet of Things, but also that their massive application can only be expected in a few years.