Nataliya Borodacheva 

Blockchain for Supply Chain Resilience, 
Transparency, and Trust:  A Multi-Case Study 

Analysis 

 

 

 

 

 

 

 

 
  

Vaasa 2025 

School of Technology and Innovations  
Master’s Thesis in Industrial Management  

Programme 



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UNIVERSITY OF VAASA 
School of Technology and Innovations 
Author:    Nataliya Borodacheva 
Title of the Thesis:  Blockchain for Supply Chain Resilience, Transparency, and Trust:  
A Multi-Case Study Analysis 
Degree:    Master of Science in Economics and Business Administration 
Programme:   Industrial Management 
Supervisor:   Khuram Shahzad 
Year:    2025 Pages: 74 

ABSTRACT: 
Due to increasing complexity and vulnerability of supply chains to disruptions, many companies 
explore the potential of blockchain technology to improve transparency, resilience and trust. 
This study explores how blockchain supports these goals through qualitative approach with 
multi-case studies from agri-food, shipping and logistics, retail, and automobile industries – 
Terra Delyssa, Maersk, Walmart and Volvo. Based on SCRM (Supply Chain Risk Management) 
Theory and Trust Theory, the research combines secondary data with insights from two expert 
interviews to provide a comprehensive overview of blockchain value and its adoption chal-
lenges. Thematic analysis was used to analyze the data, and guided by four key themes: enhanc-
ing traceability and transparency, risk reduction and supply chain resilience, building consumer 
and stakeholder trust, and challenges in blockchain adoption. The findings illustrate that block-
chain can strengthen resilience, enhance transparency, and mitigate risks. However, its success-
ful implementation more likely depends on stakeholder alignment, governance models, digital 
maturity, and integration with existing systems. In some contexts, the dominance of centralized 
systems limits blockchain’s transformative potential. From a managerial perspective, the study 
emphasizes the importance of aligning blockchain efforts with real business needs and stake-
holder readiness, investing in digital skills, and ensuring strong data governance. This thesis con-
tributes to the existing literature by providing a cross case-study analysis on blockchain’s role in 
supply chain management and highlights the key limitations and barriers to its successful and 
sustainable implementation. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

KEYWORDS: Blockchain, trust, transparency, resilience, supply chain management, SCRM, 
traceability 



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Contents 

1 Introduction 5 

1.1  Research Background and Significance 5 

1.2  Research Goal and Objectives 6 

1.3  Research Questions and Scope 6 

1.4  Research Approach and Theoretical Framework 7 

1.5  Research Methods 7 

1.6  Structure of the Thesis 8 

2 Literature Review 10 

2.1 Introduction 10 

2.2 Theoretical Background 11 

2.3 Supply Chain Risk Management (SCRM) Theory 11 

2.4 Trust Theory 18 

2.5 Constrains and Barriers to Blockchain Adoption 25 

2.6 Conceptual Framework 26 

3 Methodology 30 

3.1 Introduction 30 

3.2 Research Design 31 

3.3 Data Collection Methods 34 

3.4 Data Analysis Methods 36 

3.5 Ethical Considerations 37 

3.6 Validity and Reliability of the Data 38 

3.7 Summary 39 

4 Emperical Findings 40 

4.1 Introduction 40 

4.2 Case Study Overview – Terra Delyssa 41 

        4.2.1  Thematic Findings                                                                                                     41 

4.3 Case Study Overview – Maersk and TradeLens 43 

        4.3.1  Thematic Findings                                                                                                     44 

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4.4 Case Study Overview – Walmart and Blockchain Adoption 45 

        4.4.1  Thematic Findings                                                                                                     46 

4.5 Case Study Overview – Volvo and Blockchain for Ethical Sourcing 47 

        4.5.1  Thematic Findings                                                                                                     47 

4.6 Expert Interview Findings 48 

        4.6.1 Summary of Interview Findings and Cross-Case Comparison                           52                                                                               

5 Discussion of Findings and Conclusion 53 

5.1 Introduction 53 

5.2 Synthesis of Findings 53 

5.3 Cross-Case Comparison and Literature Integration 59 

5.4 Theoretical Implications 60 

5.5 Practical Implications 63 

5.6 Limitations of the Study 63 

5.7 Recommendations for the Future Research 64 

5.8 Summary 64 

References 68 

Appendices 73 

Appendix 1. Interview Questionnaire  73 

 Diagrames 
 
Diagram 1. Contribution of the Conceptual Framework 28 

 Tables 
 
Table 1. Qualitative Research vs. Quantative Research 33 

Table 2. Overview of Expert Interview Participants 34 

Table 3. Interview Findings and Cross-Case Comparison 52 

 

 

  

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1 Introduction 

1.1 Research Background and Significance 

The rapid digitalization of global supply chains has transformed how goods, data, and 

decisions flow across borders and stakeholders. As supply chains become increasingly 

international, complex, and interdependent, issues related to transparency, risk, and 

trust have become more pressing. (Zhao, Bal, and Ma, 2021)  

The traditional supply chain network is vulnerable and weak due to the many interrup-

tions in the modern world, including pandemics, wars, environmental disasters, and ge-

opolitical conflicts. (Nagariya et al., 2024)  

The blockchain is one of the emerging technologies with significant potential to address 

such challenges as reducing fraud, improving traceability, enhancing resilience, and min-

imizing losses and risks by applying decentralized, immutable, and transparent data ex-

change. (Kamath, 2018a; Kshetri, 2018) 

On top of that, blockchain technology enables to promote interorganizational trust 

among various stakeholders among entire supply chain. (Shahzad et al., 2024) There are 

numerous industries that already applied pilot blockchain technology including food sec-

tor, logistics, retail, luxury, pharmaceuticals, and automotive. (Centobelli et al., 2022; 

Galvez, Mejuto, and Simal-Gandara, 2018)  

However, despite global blockchain interest, there is still a lack of practical hands-on 

experience in complex real-world supply chains. Since technical blockchain adoption is 

a common challenge, very few researches examine and assess how blockchain affects 

organizational trust among stakeholders and government institutions particularly with 

limited digital maturity. (Batwa and Norrman, 2021)  

This study aims to research the role of blockchain adoption to enhance transparency, 

foster resilience, and build trust but also to explore potential limitations and barriers in 

scalability adoption across industries. 



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1.2 Research Goal and Objectives 

The purpose of this study to evaluate how blockchain technology supports transparency, 

robustness, and trust in the entire supply chains network across different industries and 

governance models, and to identify the potential constrains of its successful adoption.  

 

This research based on the following objectives: 

(1) To evaluate the effectiveness of blockchain in improving supply chain transparency 

and security 

(2) To analyze current gaps in transparency, security, and trust 

(3) To explore technical, financial, and organizational barriers to blockchain adoption 

(4) To assess and explore implementation challenges 

(5) To provide recommendations for successful blockchain integration with a focus on 

scalability, integration, and sustainability  

 

1.3 Research Questions and Scope 

Based on these objectives, this paper addresses the following research questions: 

 

1. How does blockchain technology effect on supply chain transparency and trace-

ability? 

2. What are the primary constraints and barriers for blockchain adoption in vari-

ous industries? 

 

In order to explore blockchain across different sectors, this study, particularly, based on 

four case studies: Terra Delyssa (agri-food), Maersk (shipping/logistics), Walmart (retail), 

and Volvo (automotive). The scope of the study includes both secondary data analysis 

and primary data from expert interviews with consultants from Kept and K3 Business 

Solutions. One of the key objectives of this research – to highlight challenges and main 

features of blockchain adoption for practitioners and scholars. 



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1.4 Research Approach and Theoretical Framework  

This study represents a qualitative, descriptive approach based on a multiple case study 

design and supplemented by two theoretical frameworks: 

Supply Chain Risk Management (SCRM) Theory that investigates and analyzes how 

blockchain affects and mitigates operational and financial risks across entire supply chain 

network. (Jüttner, Peck, and Christopher, 2003; Wieland and Wallenburg, 2012)  

Trust Theory explores how blockchain reduces bias and mistrust in interpersonal rela-

tionships among stakeholders and builds trust by applying a technology driven approach. 

(Batwa and Norrman, 2021; Yavaprabhas, Pournader, and Seuring, 2023)  

Both frameworks allow us to study blockchain from an interpersonal trust, transparency, 

and resilience perspective rather than as a technical tool across supply chain.  Also, these 

frameworks enable to provide holistic analysis by applying both SCRM and Trust Theories 

to assess blockchain influence on traceability, and relationships between stakeholders. 

To sum up, both frameworks help to explore how blockchain reshapes behavioral models 

and patterns in a personal and interorganizational levels across different industries.      

 

1.5 Research Methods 

This research is based on four case studies and supported by two expert interviews. Sec-

ondary data was collected from multiple resources including company reports, press re-

leases, official websites, and relevant academic articles. When it comes to primary data, 

was collected by conducting semi-structured interviews with a logistics expert from K3 

Business Solutions with hands-on experience in the supply chain at IKEA in the past and 

a consultant dedicated to tracking and tracing technology from KEPT (formerly KPMG 

Russia).  

Conducted interviews were analyzed thematically in order to evaluate the role of block-

chain in traceability, resilience, trust, and challenges related to its adoption. This 



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approach enabled a separate analysis of each case and allowed for the comparison of 

insights across the cases. 

Further details regarding the method, data collection, and analysis are provided in the 

Methodology chapter. 

 

1.6 Structure of the Thesis 

This thesis is outlined by five main chapters. The chapters follow the structure to explore 

how blockchain technology effect transparency, trust, and resilience in supply chain 

management. The next chapter after the introduction is Literature review that examin-

ing the theoretical and empirical findings of blockchain technology in supply chain man-

agement from existing peer-review articles. It explores transparency, trust, risk manage-

ment, and adoption challenges, and outlines the theoretical frameworks as Supply Chain 

Risk Management (SCRM) Theory and Trust Theory that underpin the study. 

The next one is Methodology chapter that describes the research methodology, explains 

the reason of applying a qualitative, multiple case study approach. It describes the data 

collection methods, including secondary data analysis and semi-structured interviews, 

and thematic analysis approach to interpret the outcomes and findings.  

Findings chapter follows after methodology part and presents the empirical findings 

from the four case studies such as Terra Delyssa, Maersk, Walmart, and Volvo as well as 

insights from two expert interviews. The findings are presented in thematical order, fo-

cusing on blockchain’s impact on transparency, risk mitigation, trust-building, and adop-

tion constrains. 

The final chapter, Discussion of Findings and Conclusion, brings together and discusses 

the key insights from the research. It answers the main research questions by analyzing 

insights and findings through theoretical framework lenses. Also, this chapter compares 

the primary and secondary data results with existing literature identifying similarities 

and discrepancies with its broader implications. This chapter summarizing the study’s 



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contributions from theory and practice perspective reflecting on its challenges, and of-

fering guidelines and recommendations for practitioners and future research. 



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2 Literature review 

2.1 Introduction 

Blockchain technology is one of the emerging transformative forces in supply chain man-

agement enhancing security, resilience, transparency, and trust. This literature review 

examines how blockchain mitigates risks through Supply Chain Risk Management 

(SCRM) and fosters trust among stakeholders by applying Trust Theory.   

Traceability, security, and transparency are crucial requirements for global supply chain 

network. Blockchain technology enhances traceability and transparency in supply chains 

by providing all participants with equal access to verified information, reducing commu-

nication gaps, and minimizing data errors, and loss. (Kalpana et al., 2023)  

Academic research and hands-on industry expertise evaluate blockchain as a key solu-

tion for addressing transparency, security, and traceability challenges in supply chain 

management. (Budler et al., 2024)  

On top of that, blockchain technology plays a crucial role enhancing data security and 

authenticity, minimizing supply chain risks and losses. Additionally, blockchain improves 

supply chain visibility and transparency, reducing supply chain risks. Also, blockchain al-

lows to minimize costs by preventing data tampering improving overall supply chain risk 

management. (Hong & Hales, 2024) 

Numerous studies highlight that blockchain fosters trust, collaboration, and traceability 

across supply chains by enabling stakeholders to share information, ensuring product 

provenance, reducing costs, and improving overall efficiency. (Kalpana et al., 2023; Liu 

et al., 2024; Montecchi et al., 2019).  

Another research states that blockchain adoption empowers focal companies to man-

age and guide their supply chain partners more effectively (Liu et al., 2024).  



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And finally, blockchain strengthens trust and collaboration within supply chains by en-

hancing transparency, security, and decentralization (Centobelli et al., 2022). 

Researchers argue that blockchain creates a single, reliable, and transparent source of 

data completely reshaping how information, knowledge, and resources are shared, 

thereby fostering greater trust (Batwa & Norrman, 2021; Brookbanks & Parry, 2022a; 

Montecchi et al., 2019).  

Furthermore, blockchain’s immutable ledger securely records every transaction, ensur-

ing transparency, reducing fraud, and strengthening trust between consumers and busi-

nesses (Hao et al., 2024).  

 

2.2 Theoretical Background 

The application of blockchain technology in supply chain management (SCM) is sup-

ported by several theoretical perspectives that explain its effectiveness in reducing risks, 

enhancing transparency, and building trust among stakeholders. This section outlines 

two theoretical frameworks: Supply Chain Risk Management (SCRM) Theory, which ex-

plores blockchain’s role in risk mitigation and resilience, and Trust Theory which evalu-

ates how blockchain promotes trust among supply chain stakeholders. Applying both 

theories, helps to understand better the transformative potential of blockchain in SCM.  

 

2.3 Supply Chain Risk Management (SCRM) Theory 

Overview of SCRM Theory 

Supply Chain Risk Management (SCRM) is a structured and systematic approach that 

helps organizations identify vulnerabilities and mitigate supply chain risks effectively. It 

involves proactive actions towards supporting supply chain robustness and enhancing 

its agility by assessing potential disruptions, evaluating their impact, and implementing 

strategic risk mitigation. (Jüttner et al., 2003; Wieland and Wallenburg, 2012)  



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Readiness and ability of taking risks is a crucial feature of effective supply chain manage-

ment. (Jüttner et al., 2003)  

Studies agree that one of the key factors for successful implementation of a Supply Chain 

Risk Management (SCRM) is a strong commitment among all stakeholders. (Kwon and 

Suh 2005) Hence that supply chain risks arise from various sources, including operational 

failures, cyber threats, demand fluctuations, and supplier disruptions. (Nagariya et al., 

2024) 

With the ongoing globalization and the rise of online consumption, supply chains are 

evolving from local to global networks, destroying traditional boarders. However, in-

creasing numbers of enterprises involved in the supply chain makes it vulnerable and 

fragile. (Wang and Bai, 2023) In this respect every day companies struggle with opera-

tional and supply chain challenges across the globe. (Al-Swidi et al., 2024) 

In order to effectively respond to disruptions companies must proactively identify supply 

chain risks and establish strategic plans in advance. Proactive and reactive strategies, 

including flexibility, visibility, and agility, help mitigate risks and enhance supply chain 

performance. (Nagariya et al., 2024) 

In today’s unpredictable and turbulent environment resilience has become extremely 

crucial for supply chain management. (Liu et al., 2024).  

In general, resilience has a broad concept that spans multiple disciplines and dimensions. 

One of supply chain resilience definitions is the ability of a supply chain to adapt, foresee, 

and respond to disruptions, enabling promptly and sufficiently recovery and making sup-

ply chain more robust than before the disruption. (Liu et al., 2024)  

Several authors argue the importance of fostering supply chain resilience (SCR), which 

refers to a supply chain’s ability to anticipate, adapt to, and recover quickly from unex-

pected disruptions such as environmental disasters, global events, or epidemics. A grow-

ing body of research claims that strengthening SCR is crucial for companies to respond 



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to unforeseen challenges and maintain operational issues effectively. (Al-Swidi et al., 

2024; Liu et al., 2024; Shahzad et al., 2024)  

To sum up, supply chain resilience (SCR) technologies help improve overall performance 

by reducing risks, offering transparency data, and allowing firms to adapt and optimize 

their processes more effectively. Blockchain contributes to this resilience by providing 

transparent, real-time data across the supply chain, making visible its execution through 

smart contracts, and ensuring the integrity and security of shared information. 

Studies confirm that during the COVID-19 pandemic, supply chains with adopted block-

chain adapted faster by tracking inventory and managing supplier disruptions in real-

time. (Nagariya et al., 2024) 

Research on supply chain resilience often focuses on how risks effect on operations and 

how to manage these risks. These studies highlight the importance of improving com-

munication, collaboration, trust by adopting blockchain technology to reduce vulnera-

bilities across the supply chain. (Shahzad et al., 2024)  

Another research article mentions that due to increasing risks in supply chains leadership 

such strategy as Transformational Supply Chain Leadership (TSCL) might be applied. It 

plays a crucial role in ensuring resilience and adaptability in turbulent environments. 

Recognized it as an effective strategy, TSCL plays a crucial role in enhancing supply chain 

resilience and supporting its scalability. TSCL helps to inspire and guide supply chain 

members to achieve better performance by adding flexibility in uncertain market envi-

ronments. (Liu et al., 2024) 

Furthermore, marketing strategy plays a significant role in enhancing supply chain resil-

ience (SCR) by influencing customer demand, revenue management, and market adapt-

ability. Particularly, in order to enhance supply chain risk management benefits risk iden-

tification and mitigation must be integrated at all organizational levels. This requires top 

management support, staff trainings to risk management team and fostering a risk-

aware organizational culture. As a result, by building resilience to anticipate and manage 



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potential disruptions, supply chains can achieve better operational performance and 

have more predictable financial outcomes, regardless of economic conditions. (Nagariya 

et al., 2024)  

Integrating suppliers can significantly enhance supply chain resilience by improving the 

ability to handle uncertainties and respond swiftly to disruptions. Building long-term 

partnerships with innovative and reliable suppliers is particularly priceless. Strong col-

laborative relationships allow the focal company to adapt more effectively and recover 

more quickly if disruptions occur.(Wang and Bai, 2023) 

Blockchain’s Role in SCRM 

Blockchain technology enables companies to handle information and data securely and 

transparently, improving overall supply chain resilience. To do so, firms are able to pre-

dict unforeseen disruptions and restore supply chain process faster. Previous researchers 

have found that blockchain technology significantly improving supply chain resilience by 

mitigating risk management, transparency, data sharing, collaboration, tracking and trac-

ing, and internal integration. (Al-Swidi et al., 2024)  

Studies show that improving visibility and transparency through blockchain can help pre-

vent unethical actions and ensure that environmentally responsible actions are properly 

recorded and verified. By fostering trust, promoting data integrity, and enhancing oper-

ational efficiency, blockchain supports the development of more resilient and sustaina-

ble supply chains. This, in turn, helps reduce environmental impact and contributes to 

broader sustainability goals. Companies that focus on green supply chain resilience 

through blockchain innovation can achieve a competitive advantage by meeting market 

demands, attracting to environmentally conscious consumers, and establishing them-

selves as leaders in sustainability. (Chelh and Ababou, 2023) 

For example, Maersk Line, as one of the leaders of the shipping industry has adopted 

blockchain technology to improve logistics security, efficiency, and sustainability through 

its TradeLens platform, which was developed in collaboration with IBM. This innovation 



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has significantly improved risk management, green logistics, and supply chain transpar-

ency in international shipping. Blockchain technology allows track and share shipment 

risk data in a verifiable and secure manner, which helps to reduce paperwork, human 

errors and lower carbon emissions. Additionally, green logistics practices for saving en-

ergy, preventing damage, and managing waste can be supplemented with blockchain 

technology. For instance, GPS sensors installed on container ships can detect if vessels 

are approaching hazardous zones. In this case, blockchain can immediately alert stake-

holders allowing ships to reroute and avoid potential risks.      

Moreover, the use of blockchain promotes immutable audit trails for shipment risk rec-

ords and secure documentation for all stakeholders, including Maersk and insurance pro-

viders. Such transparency makes claims processing and payment easier and also reduces 

energy consumption and environmental impact. (Wong et al., 2023) 

In order to increase blockchain’s long-term benefits in supply chain risk management 

companies should focus on integrating and investing in emerging technologies. This can 

be achieved by applying blockchain and integrating these technologies into operations. 

Technology infrastructure is essential for staying competitive. By doing so, firms can en-

hance readiness, improve response capabilities, and accelerate recovery from disrup-

tions. However, blockchain has a great potential for strengthening supply chain resilience 

(SCR), improper implementation can lead to potential risks and reduce investment effec-

tiveness. (Liu et al., 2024)  

Despite the fact that many studies highlight the benefits of adopting blockchain technol-

ogy, some of them declare its potential drawbacks. Although, some studies argue that 

despite its advantages, adopting blockchain technology can create new risks and poten-

tially hinder supply chain resilience. In other words, blockchain technology may not al-

ways be beneficial for enhancing supply chain resilience (SCR), particularly in cases 

where collaboration efficiency within the supply chain is lacking. (Liu et al., 2024) 

One of the primary risks facing supply chains is the increasing prevalence of cyber-at-

tacks, which lead to operational disruptions, financial losses, decreasing productivity, 



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and losing trust among partners. To address these challenges, future research should 

explore blockchain solutions, focusing on its immutability, auditability, and redundancy 

to strengthen supply chain resilience against cyber threats. (National School of Business 

and Management, Sidi Mohamed Ben Abdellah University, Fez, Morocco, El Ouarrak, 

and Hmioui, 2024)  

Additionally, researchers propose that blockchain technology can help overcome various 

supply chain management challenges, particularly by enabling upstream enterprises to 

gain better access to market demand information. Some research indicates that busi-

nesses can strengthen supply chain resilience by adopting blockchain technology, while 

policymakers can facilitate this process by providing government subsidies. Studies ex-

plore how financial support impacts supply chain disruptions for suppliers and manufac-

turers. Findings show that innovation subsidies in technology contribute significantly to 

social prosperity. Lastly, government subsidies for manufacturers’ wholesale prices can 

play a crucial role in stabilizing local supply chains and reducing disruptions. However, 

while blockchain technology and government subsidies can improve supply chain resili-

ence, they do not completely eliminate disruption risks. (Wang and Bai, 2023) 

When it comes to real-world cases studies, IBM Food Trust demonstrates blockchain’s 

transformative impact on food safety and supply chain transparency. By leveraging de-

centralized and immutable record-keeping, it enables end-to-end traceability from farm 

to fork, ensuring greater trust, efficiency, and accountability among all stakeholders. Ac-

cording to Scott Gottlieb, FDA Commissioner:  

"IBM Food Trust achieves new levels of trust and transparency, making food safer and 

smarter from farm to fork." 

This highlights how blockchain enhances food safety by reducing contamination risks, 

improving recall efficiency, and fostering consumer confidence through real-time data 

access. (IBM, 2023)   



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Another example is a blockchain-based Intelligent Automated Transportation System 

(IATS), integrated with the Light Gradient Boosting Machine (LightGBM) algorithm. This 

system demonstrates how blockchain can enhance supply chain operations by improving 

security, efficiency, and decision-making. It helps optimize how vehicles and cargo are 

traced, reducing delays and increasing accuracy in logistics processes. By combining 

blockchain with machine learning, the system strengthens transparency, boosts opera-

tional reliability, and improves overall supply chain performance. (Zhou et al., 2022) 

In food supply chains, blockchain has been proven as effective tool to reduce traceability 

time, lower operational costs, and strength trust among stakeholders. Its decentralized 

and tamper-proof structure ensures accurate record-keeping, removes the need for in-

termediaries, and supports smoother collaboration across the supply chain. As a result, 

businesses are better handle risks, promote sustainability, enhance resilience, and en-

courage ethical practices. (Rakhra et al., 2024) 

The blockchain integration in Indonesia’s pharmaceutical supply chain demonstrates 

transparency, security, and accountability. With blockchain technology, companies can 

securely track and verify drug shipments, ensuring product authenticity and compliance 

with safety regulations. This significantly reduces the risk of counterfeiting, enhances 

inventory management, and strengthens quality control through real-time monitoring 

and tamper-proof records. In addition, smart contracts streamline distribution processes 

by automating transactions and compliance verification. As a result, blockchain adoption 

in the pharmaceutical sector not only enhances operational efficiency and regulatory 

compliance but also fosters trust among manufacturers, distributors, healthcare provid-

ers, and patients. (Abidin, Alamsyah, and Irawan, 2024) 

 



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2.4 Trust Theory 

Overview of Trust Theory 

Trust plays a crucial role in supply chain relationships, significantly impacting collabora-

tion, decision-making, and overall operational performance. Many researchers state that 

the main reason of destroying supply chain relationship is lack of trust between stake-

holders.  

Trust is an interdisciplinary concept, influences various dimensions of both interpersonal 

and economic interactions across different industries. There are multiple perspectives 

on trust, including interpersonal trust, interorganizational trust, and digital trust, each of 

each shapes how companies collaborate and exchange information within the supply 

chain. (Brookbanks & Parry, 2022) 

Several research articles highlight that interorganizational trust plays a crucial role in re-

ducing transaction costs and strengthening long-term relationship commitment. Such 

negative factors as incomplete contracts, mistrust, asymmetric information sharing, con-

flicting objectives, and unforeseen market disruptions are often led to higher costs and 

weak relationships between stakeholders. In other words, a high level of interorganiza-

tional trust helps to reduce transactional costs improving negotiations and cooperation 

between partners. In contrast, the low level of trust increases inefficiency, complexity 

leading to higher costs and uncompetitive performance on the market. Additionally, 

trustful environment provides less time for conflict resolution, adapting to changes, 

transparency improving overall business partnership. (Shahzad et al., 2018) 

Digital trust is another form than traditional form of trust due to digital foundation of 

transactions between stakeholders. Some of the recent research propose digital trust as 

a human-technology perspective suggesting that technology adoption helps to improve 

trust between collaborating companies. Therefore, digital trust in business environment 

enforces not only partnership collaboration but technology process by secure, responsi-

ble and reliable behavior. (Shahzad and Hafeez, 2022) 



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Trust in supply chains has been studied through multiple lenses, including psychology, 

sociology, and management. However, trust is widely recognized as a complex, multidi-

mensional, and often unknown concept which is difficult to define universally. Some 

scholars describe trust as “a willingness to be vulnerable” or “the willingness to rely on 

an exchange partner in whom one has confidence,” particularly in situations involving 

risk and interdependence. (Batwa and Norrman, 2021; Yavaprabhas et al., 2023) 

Other literature sources describe trust as the willingness to rely on business partner in 

whom one has confidence. In other words, trust is defined as customer’s belief in a com-

pany’s reliability, competence, and commitment to fulfilling expectations and delivering 

consistent, positive outcomes. (Hao et al., 2024). 

Actually, trust involves two parties: the trustor, who accepts a degree of vulnerability 

due to risk and interdependence, and the trustee, who is expected to act in a way that 

meets the trustor’s expectations.(Yavaprabhas et al., 2023) As it was mentioned earlier, 

trust plays a key role in business cooperation and fosters strong relationships. Many cor-

porations evaluate trust as a crucial driver of their success due to transparency and col-

laboration among stakeholders. In fact, CEOs and senior executives of large corporations 

often consider trust as a crucial factor for successful supply chain operations and overall 

performance. (Yavaprabhas et al., 2023)  

However, on the other side, despite trust benefits, consumers often find it challenging 

to understand how trust adds value within the supply chain because they often lack ac-

cess to supply chain data. This makes it difficult to verify whether brands truly adhere to 

ethical sourcing practices and quality standards. Blockchain helps bridge this gap by of-

fering real-time, transparent verification of product origins, empowering consumers to 

make more informed and confident purchasing decisions.(Montecchi, Plangger, and Et-

ter, 2019)  

Basically, trust in supply chains is based on to transparency, traceability, and visibility. To 

achieve this, companies invest and develop modern technologies such as AI, IoT, and 

blockchain to enhance trust and regulatory compliance. (Xu et al., 2021)  



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As supply chains become more digitized, traditional trust tools have to provide more 

security and accountability. In this respect, the digital trust started to play an essential 

role in managing risks, protecting data, and enabling secure interactions between stake-

holders. Digital trust and cybersecurity are crucial for managing technology security and 

data risks, driving innovation, and protecting organizational assets. Trust in data govern-

ance, digital identity, and cybersecurity frameworks enhances performance, customer 

relationships, and business resilience. As organizations adopt emerging technologies like 

cloud computing, AI, and blockchain, the need for digital-trust technologies grows. How-

ever, there are challenges in blockchain adoption such as integration issues, skill short-

age, and organizational barriers. In order to fully integrate digital trust, companies should 

significantly focus their efforts on leadership skills, management tools, and technology 

investments.  As according to several research, many companies struggle with imple-

menting digital trust due to old infrastructure, fragmented security protocols, and a 

shortage of skilled professionals in cybersecurity. To overcome these challenges, compa-

nies need strong support from executive management. This includes a clear top-down 

commitment to digital trust, the implementation of standardized governance policies, 

and targeted investments in the technologies and skills required to build secure and 

trustworthy digital systems. (McKinsey & Company, 2024) 

 

Blockchain’s Role in Trust Theory 

As it was mentioned above, trust plays a crucial role in supply chain relationships be-

tween stakeholders. The following section explores how blockchain technology impact 

on trust across entire supply chain network. 

In today’s globalized supply chain, traceability and transparency are essential require-

ments. Blockchain technology enhances these aspects by providing all participants in the 

supply chain access to the same information. This reduces communication gaps and min-

imizes data loss. (Kalpana et al., 2023)  



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Several studies propose that blockchain increases trust, transparency, and traceability 

across the supply chain by sharing information among stakeholders. This improves not 

only confidence in product origin for customers but also reduces costs, and enhances 

overall traceability. (Kalpana et al., 2023; Montecchi et al., 2019)  

Trust is as a key element of blockchain technology. Blockchain consists of series of inter-

connected blocks, which allows transaction history to be easily traced through previous 

blocks fosters security and decentralization in order to strengthen trust and collabora-

tion within supply chains. (Centobelli et al., 2022)  

This immutable blockchain structure called as "trusted technology" or “consensus mech-

anism”. (Dutta et al., 2020) 

Consensus mechanism is built on smart contracts, which requires agreement from all 

network participants before a transaction is executed. Smart contracts help organiza-

tions, known as trustors, prevent unfair partners’ trading behavior in supply chain. As a 

result, the use of blockchain platforms is expected to strengthen the perceived trustwor-

thiness of trustee parties in business transactions. Overall, blockchain and smart con-

tracts provide effective solutions to challenges related to counterfeiting, data security, 

and trust. By implementing blockchain and smart contracts, transactions between sup-

ply chain parties become faster and more efficient. (Centobelli et al., 2022) 

With their robust processing and monitoring capabilities, blockchain platforms are ex-

pected to gain greater trust from users compared to traditional supply chain systems 

that operate without smart contracts. (Yavaprabhas et al., 2023)  

Blockchain technology fosters “digital trust” and defenses from unethical behavior 

among supply chain partners. Each transaction is recorded and builds upon previous 

ones, making any misconduct immediately visible to the entire network.  Only author-

ized parties have access to these records, which cannot be changed, tampered, hacked, 

or manipulated without notifying other users (Batwa and Norrman, 2021; Kalpana et al., 

2023; Yavaprabhas et al., 2023).  



22 

Numerous studies have highlighted a strong relation between trust and blockchain tech-

nology. Many researches have introduced the concept of digital trust, which reshape 

traditional trust in business relationships. Traditional trust, which requires years to de-

velop, can be destroyed in moments, and is challenging to be rebuild. In contrast, digital 

trust is created immediately and can be lost also very quickly, but it is always ready to 

adapt to new technology environments. (Batwa and Norrman, 2021) 

Blockchain technology makes transactions faster and more transparent by processing 

data in real time. Unlike traditional systems, it allows every stakeholder to see up-to-

date information about a product at each stage of the supply chain. This enhances trans-

parency both in the data and the movement of goods, building trust across the entire 

supply network.(Kalpana et al., 2023)  So, blockchain technology significantly reduces 

fraud in the supply chain and enhances trust and transparency within the system. (Ya-

vaprabhas et al., 2023) 

Fraud and counterfeiting are the major challenges across many industries, particularly in 

markets dealing with high-value goods like diamonds, luxury products, pharmaceuticals, 

and fine art. 

One of the examples how actually blockchain helps to prevent fraud and counterfeiting 

is Everledger company. It successfully prevents diamonds fraud and counterfeiting. Ev-

erledger records each diamond’s origin and characteristics on a blockchain, ensuring im-

mutability, traceability, and transparency throughout the supply chain.  

Another example is Louis Vuitton. It is producer of luxury goods and one of the most 

counterfeited in the world. Due to high value of the goods, desired fashion styles and 

outstanding materials, counterfeiters have developed advanced techniques to replicate 

the brand. To overcome this challenge, LVMH, Louis Vuitton’s parent company, took a 

significant step forward in the fight against counterfeiting. In May 2019, LVMH collabo-

rated with Microsoft and the software company ConsenSys to introduce a blockchain-

based platform designed to authenticate luxury goods. (Thanasi-Boçe, AL-Issa, and Ali, 

2022) 



23 

Again, according to many research articles, blockchain technology is declared to design 

reliable, and transparent source of information fostering trust between stakeholders. 

(Batwa & Norrman, 2021; Brookbanks & Parry, 2022; Montecchi et al., 2019).  

However, opinions among different scholars and experts differ on how blockchain influ-

ences trust. Some of them state that trust is the primary driver of blockchain adoption, 

while others highlight the opposite and declare numerous challenges and potential neg-

ative effects. Despite the benefits of applying blockchain technology to increase trust, 

there might be barriers and risks related to information sharing and can negatively im-

pact trust among supply chain partners. This particularly makes sense when handling 

sensitive or confidential data. While blockchain creates a secure and verifiable ledger, it 

also affects data privacy and control. Organizations may hesitate to share sensitive data 

creating barriers to trust among supply chain partners (Batwa and Norrman, 2021) 

As it was already mentioned, blockchain is still new and evolving technology. Rather than 

replacing existing systems, it should be used supplementary to the current existing sys-

tems to add greater transparency, security, and data integrity. 

In contrast, some researchers propose that blockchain implementation enhances infor-

mation authenticity and transparency within the supply chain, potentially increasing 

competition among external stakeholders. This happens due to blockchain ability to fa-

cilitate information sharing across all supply chain members while mitigating the risks of 

fraud or counterfeit.  (Yavaprabhas et al., 2023) 

From the one hand, some studies suggest that blockchain technology is unable to re-

place emotional or interpersonal trust among supply chain members. They highlight that 

despite blockchain adoption, in order to build long-term, trusting relationships among 

supply chain actors the human factor, collaboration and cooperation are still essential . 

(Yavaprabhas et al., 2023). From the other side, there is an opinion among researches 

that supply chain partners can trust the blockchain system itself and the information 

exchanged within the platform. So, they do not necessarily need to trust each other. In 



24 

other words, since blockchain ensures secure and verifiable transactions, partners can 

interact trustfully without interpersonal or interorganizational trust.  

So, when it comes to real life blockchain application enhancing digital trust there are 

following examples across such industries as food and logistics that demonstrate its 

transformative potential in fostering transparency and reliability. 

In the food industry, data recorded on blockchain includes such details as farm origin 

details, crop growing conditions, factory processing information, batch numbers, storage 

temperatures, required conditions, and shipping data. This ensures comprehensive 

traceability. To guarantee safety supply chains of high-quality food products, blockchain 

enhances operational efficiency across the entire farm-to-fork supply chain by transpar-

ency and traceability at every stage. (Gupta and Shankar, 2024) 

Blockchain securely stores each transaction within the supply chain, providing a trans-

parent and verifiable record of ingredient origins, quality, and safety in the food industry. 

This technology allows businesses to track the lifecycle of ingredients, from production 

to consumption, ensuring authenticity and quality. By doing so, blockchain reduces the 

risk of food fraud and strengthens trust between consumers and businesses. (Hao et al., 

2024) 

Modern supply chains integrate IoT devices, robotics, artificial intelligence, and block-

chain technology to establish an immutable and trusted data source, enhancing trans-

parency and reliability for supply chain participants. (Kalpana et al., 2023)  

For instance, in the wine industry, it is essential to track and share important information 

such as temperature, humidity, and storage and transportation conditions. (Brookbanks 

and Parry, 2022a)  

However, according to numerous studies, there is a gap in the literature, as no case study 

has comprehensively explored the impact of digital technologies and blockchain on trust 

and trust relationships within complex supply chains. This gap exists in supply chains 



25 

involving multiple stakeholders, such as vendors, producers, logistics providers, govern-

ment entities, including customs and border operations. (Brookbanks and Parry, 2022a)  

To sum up, blockchain is a powerful tool for strengthening supply chain security, trans-

parency, resilience, and trust. However, its successful adoption facing challenges such as 

regulatory barriers, cybersecurity risks, investments, and technological and institutional 

integration. Future research should explore blockchain's impact in developing econo-

mies and analyze its long-term effects on supply chain ecosystems. 

 

2.5 Constrains and Barriers to Blockchain Adoption 

Despite the growing interest to blockchain technology as a tool for enhancing transpar-

ency, improving resilience and building trust, its adoption faces several barriers and con-

straints. These challenges are technical, organizational, financial, and institutional vary-

ing by industry and governance context. 

One of the most common challenges in blockchain adoption is integration to already 

existing digital infrastructure. Many companies still rely on legacy ERP or IT systems that 

are not easily compatible with blockchain platforms. (Kamath, 2018a). Another con-

straint is interoperability between blockchain solutions and interaction among supply 

chain stakeholders, particularly in global supply chains without universal standard. 

(Rakhra et al., 2024) 

Additionally, blockchain successful implementation requires close collaboration be-

tween supply chain members. However, levels of digital maturity, interest, or trust in the 

blockchain technology may vary among stakeholders in less digitized environments mak-

ing barriers for its successful adoption. (Francisco and Swanson, 2018) 

Also, blockchain adoption can be expensive for companies with limited investments or 

technological resources. Infrastructure, staff training and systems costs are often main 

constrains to blockchain adoption. (Kshetri, 2018) 



26 

Although, according to research studies, in some cases blockchain’s transparency can 

conflict with confidentiality requirements. In this respect, companies may refuse to 

share sensitive or competitive data on decentralized network. (Batwa and Norrman, 

2021) 

And finally, operating across multiple countries with different legal rules and regulating 

blockchain faces additional constraints. As a result, blockchain adoption is very limited 

in such contexts. (Xu et al., 2021)  

These barriers and constrains are directly addressed to the second research question of 

this study. Understanding these challenges is essential for evaluating blockchain’s prac-

tical value beyond its theoretical potential.  

 

2.6 Conceptual Framework 

Purpose of the Framework 

The aim of this section is to synthesize and summarize the literature review from differ-

ent perspectives, identify key research gaps, and highlight how this study may contribute 

for future blockchain technology in supply chains. 

 

Literature integration and conceptual gaps 

Numerous literature articles highlight blockchain technology as a transformative force in 

supply chain management enhancing transparency, security, resilience and trust. Its de-

centralized and immutable nature plays a key role in addressing a wide range of supply 

chain risks, aligning closely with Supply Chain Risk Management (SCRM) Theory. At the 

same time, blockchain enhances trust among stakeholders, which reflects the core prin-

ciples of Trust Theory. 

Despite the growing scholarly interest in blockchain technology, most existing research 

either focuses on its technical applications or discusses its impact on supply chains in 



27 

theoretical point of view. However, there is a lack of in-depth research how blockchain 

strengths trust within complex inter-organizational networks and supports supply chains 

in regions with lower levels of digital literacy. This study aims to address these gaps by 

exploring the dual role of blockchain as a risk management and trust tool. By utilizing 

Supply Chain Risk Management (SCRM) and Trust Theory, the aim of this research is to 

provide a more holistic understanding of how blockchain supports resilience, transpar-

ency, and security in supply chains. 

 

Conceptualizing the framework 

The conceptual framework of this study is based on reducing risks and building trust. 

SCRM Theory focuses on secure information sharing, traceability and foreseen potential 

disruptions. Meanwhile, Trust Theory underlines the importance of transparent transac-

tions, collaboration, relationships commitment between stakeholders in supply chains. 

These two theories are deeply interconnected and significantly influence each other. As 

it was discussed earlier, increasing transparency supports trust, traceability supports risk 

mitigation, and data integrity positively effects on resilience and collaboration.  

 

Framework application in this study 

The conceptual framework plays essential role in the research design and analytical ap-

proach of this study. Supply Chain Risk Management (SCRM) Theory is used to assess 

how effectively blockchain can identify and mitigate risks within the supply chain. At the 

same time, Trust Theory offers a perspective for understanding how blockchain contrib-

utes to building confidence among supply chain stakeholders. By combining these two 

theoretical lenses, this study is able to evaluate blockchain’s impact on critical opera-

tional aspects such as transparency, security, trust, and resilience. This framework is a 

foundation for exploring real-world blockchain applications and understanding expert 

perspectives and insights gathered during the empirical phase of the study. 



28 

Contribution of the Framework 

The conceptual framework adds value by combining these two theoretical lenses - Sup-

ply Chain Risk Management (SCRM) and Trust Theory in order to explore the complex 

impact of blockchain technology on supply chains. It offers a structured approach for 

analyzing how blockchain reshapes information exchange, inter-organizational relation-

ships, and risk management practices within supply chains. In addition, the framework 

offers a foundation for evaluating and designing blockchain strategies that can be applied 

across both developed and developing economies. To support this conceptualization, 

this section presents a visual diagram illustrating the connections between blockchain, 

supply chain risk management, and trust. 

 

 

Diagram 1. Contribution of the Conceptual Framework 

This visual diagram illustrates the conceptual framework guiding this research. Block-

chain technology creates transparency, traceability, and data security across supply chain 



29 

network. There are two main outcomes applying theoretical framework: increased trust 

among stakeholders allied with Trust Theory, and reduced supply chain risks and disrup-

tions allied with Supply Chain Risk Management (SCRM) Theory. 

If to summarize, building trust and mitigating risks significantly improve collaboration 

and resilience across supply chain. These factors create security, transparency, and trust-

fulness across entire supply chain. The relationship between trust and risk management 

highlights how modern supply chains depend on secure, immutable, tamper-proof data 

for overall supply chain efficiency. 

Based on this conceptual framework, the next chapter presents the methodology used 

in this study. It explains how the research was designed, how the data was collected and 

analyzed, and how these methods explore the role of blockchain for supply chain security, 

transparency, and resilience through the lens of Supply Chain Risk Management (SCRM) 

Theory and Trust Theory. 

 

 

 

 



30 

3 Methodology  

3.1 Introduction 

This chapter presents methodology used in research and the role of blockchain technol-

ogy in improving supply chain security, transparency, and resilience. It provides research 

design overview, data collection, and analysis methods of this research. This chapter also 

explains the reason of the chosen approach and how it fits the goals of the study with 

detailed exploration of the complex and evolving nature of blockchain adoption in the 

supply chain. (Yin R. K., 2014) 

To structure the research design, this study applies a qualitative multiple case study ap-

proach. This approach is well-suited for exploring contemporary phenomena in real-

world settings, especially when the boundaries between the phenomenon and its con-

text are blurred. (Yin R. K., 2014)  

Multiple case studies allow to identify common patterns as well as case-specific differ-

ences, which enhances the robustness and external validity of the findings. Exploring 

various blockchain implementations across different industries allows this study to rep-

licate each case study as a separate experiment with cross-case thematic analysis. This 

approach improves the credibility and supports the outcome performance of the re-

search. (Yin R. K., 2014) 

A qualitative case study approach was chosen due to exploratory nature of the study and 

the limited empirical research at the intersection of blockchain, trust, and supply chain 

risk management. This method based on inductive logic, allowing data to "speak" 

through detailed analysis of real-world practices, expert insights, and contextual factors 

influencing blockchain implementation. Basically, such approach is well-suited for ex-

ploratory research exploring complex phenomena in details and providing comprehen-

sive research than quantitative methods. (VanderStoep, 2008)  



31 

The chapter also explains the reason behind chosen research method and the applica-

tion of theoretical frameworks - Supply Chain Risk Management (SCRM) and Trust Theory. 

These frameworks help to interpret the data and better understand the blockchain inte-

gration in supply chain systems (Creswell, 2018) 

The research is guided by five core objectives: 

(1) To evaluate the effectiveness of blockchain in improving supply chain transparency 

and security, 

(2) To analyze current gaps in transparency, security, and trust, 

(3) To explore technical, financial, and organizational barriers to blockchain adoption, 

(4) To assess and explore implementation challenges, and 

(5) To provide recommendations for successful blockchain integration with a focus on 

scalability, integration, and sustainability. 

These objectives shape the overall methodological approach, ensuring alignment be-

tween the research goals, the data collection, and data analysis. 

 

3.2 Research Design 

This research adopts a qualitative, multiple case study approach to gain comprehensive 

insights into blockchain adoption within supply chain management. This design allows 

to achieve an in-depth and comparative analysis of blockchain implementations across 

different industries such as agri-food (Terra Delyssa and IBM Food Trust), logistics and 

shipping (Maersk and TradeLens), Walmart and blockchain adoption, and automotive 

manufacturing (Volvo’s ethical sourcing initiatives). 

As it was already discussed, a multiple case study approach is particularly well-suited for 

exploring complex, contemporary phenomena in real-world contexts where the bound-

aries between phenomenon and context are not clearly defined (Yin R. K., 2014).  

By studying different blockchain implementations across the industries, this design sup-

ports detailed research of industry-specific experiences, expert opinions, and secondary 



32 

data sources, focusing specifically on blockchain’s impact on security, transparency, trust, 

and resilience. 

This approach provides comprehensive insights, industry-specific challenges related to 

evolving blockchain’s nature. 

Additionally, this design enhances the credibility and allows to replicate the findings by 

cross-case comparisons. Also, the qualitative method was selected because it offers a 

descriptive and inductive approach that enables a deeper understanding of real-world 

practices, stakeholder perceptions, and challenges influencing blockchain implementa-

tion. (VanderStoep, 2008)  

In addition, qualitative research highlights the depth of human experience with emerg-

ing technologies and focuses on concepts such as transparency, trust, and resilience, 

while avoiding premature generalizations drawn from limited datasets. (Lincoln, 2021) 

Notably, that structured interviews serve as a valuable qualitative research tool, allowing 

supply chain professionals and blockchain experts to discuss barriers, trust issues, and 

implementation concerns beyond numerical measurement. (VanderStoep, 2008)  

Moreover, blockchain technology is continuously evolving, and qualitative methods offer 

the flexibility to adapt to unexpected findings as new themes emerge. The following ta-

ble compares qualitative and quantitative research approaches, highlighting the reason 

behind selecting a qualitative strategy for this study: 

 

 

 



33 

Aspect Qualitative Research Quantitative Research 

Objective 
Explore concepts, experiences, 

and meanings deeply 

Measure and analyze numerical 

data 

Nature of Data 
Subjective, descriptive, non-nu-

merical (words, themes, opinions) 

Objective, numerical, measurable 

(statistics, percentages) 

Data Collection 

Methods 

Interviews, case studies, observa-

tions, document analysis 

Surveys, experiments, structured 

questionnaires 

Flexibility 
More flexible, open-ended, explor-

atory 

Structured, predetermined 

variables 

Sample Size Smaller sample, detailed insights 
Larger sample, statistical 

generalization 

Outcome 
Provides deep understanding, 

identifies patterns and themes 

Tests hypotheses, provides statis-

tical validation 

Table 1. Qualitative Research vs. Quantative Research 

 

This comparison clearly explains the choice of qualitative research by emphasizing its 

strengths in capturing nuanced and detailed human experiences. 

Unlike quantitative methods, which focus on hypothesis testing and statistical validation, 

qualitative research explores the underlying reasons, motivations, and contextual factors 

affecting blockchain adoption. Its flexibility allows researchers to adapt to the evolving 

dynamics of supply chain environments, providing complex, industry specific insights 

that quantitative approaches may overlook. 

To sum up, the qualitative multiple case approach provides more comprehensive analy-

sis especially for identification new opportunities and challenges in supply chain adop-

tion and scalability.  

 



34 

3.3 Data Collection Methods 

Primary Data Collection  

This study adopts a qualitative methodology within a multiple case study design. In order 

to provide comprehensive analysis of secondary data and real-world implementations, 

the primary data was collected through semi-structured interviews with two industry 

experts who have hands-on professional experience in supply chain management and 

blockchain related fields.  

Interviewee Company Position Duration Interview Format 

Expert 1 
Kept Tech (ex-

KPMG RU) 

Director, technology support 

(Track&Trace)  

~60 

minutes 
Phone call 

Expert 2 
K3 Business 

Solutions  
Logistics Consultant 

~60 

minutes 
Phone call 

Table 2. Overview of Expert Interview Participants 

 

The first interview was conducted with the director of technology support (Track & 

Trace) from Kept Tech (formerly KPMG Russia), who is currently responsible for supply 

chain tracking and QR code traceability systems and regulatory compliance. He shared 

insights into centralized, government-led systems in Russia. 

The second interview was with logistics consultant from K3 Business Solutions, who has 

expertise in warehouse operations and supply chain at IKEA. He provided detailed in-

sights of blockchain’ adoption challenges in decentralized franchise model and existing 

ERP systems providing traceability and managing operational risks. 

Both interviews were scheduled and conducted over the phone call and lasted approxi-

mately 60 minutes each.  Although, both conversations were allied with the research 

objectives and structured thematically around four core topics: blockchain adoption, 

transparency and traceability, organizational and technological challenges, its’ value and 



35 

feasibility. During the interviews the detailed notes were taken for the further thematic 

analysis. The interview outcomes were used to support the secondary data findings to 

provide holistic overview in cross-case comparison of blockchain adoption in supply 

chains. 

Secondary Data Collection  

Secondary data plays a crucial role in this research enabling to provide rich, real-world 

insights of blockchain adoption across different industries and sectors. The limited num-

ber of expert interviews with credible case study analysis helped to develop holistic and 

comprehensive understanding of the research topic.  This data was collected through 

systematic document analysis of publicly available materials such as company reports, 

whitepapers, industry publications, press releases, academic articles, and relevant 

online resources like official company websites, blogs, and news portals related to block-

chain applications in supply chains. Thus, detailed case study analysis offered real-world 

use of blockchain, including implementation processes, benefits, challenges, and current 

development in blockchain technology for supply chain management, that expert inter-

views may not provide alone.   

The document analysis based on four key cases: Terra Delyssa’s adoption of IBM Food 

Trust in the agri-food sector, Maersk’s implementation of the TradeLens platform for 

global shipping and logistics, Walmart’s application of IBM Food Trust for food safety 

and traceability, and finally Volvo’s blockchain-based traceability system for ethical co-

balt sourcing in the automotive industry. 

Secondary sources were selected based on their credibility, relevance, and publication 

date, with priority given to peer-reviewed articles, official company reports, and re-

spected industry analyses. By combining information from diverse and reliable sources, 

document analysis helps to gain deeper understanding and supports the analytical in-

terpretation of results across multiple cases. 



36 

By analyzing and comparing case studies this approach supported the primary data, 

added logic and depth of the findings and contributed to building a comprehensive view 

of blockchain’s role in improving transparency, trust, security, and resilience within dif-

ferent supply chain sectors. 

 

3.4 Data Analysis Methods 

As already mentioned above, this study based on qualitative approach analyzing both 

primary and secondary data. The analysis was conducted through thematic coding and 

cross-case synthesis to identify key patterns allying with conceptual framework of the 

study. 

Primary Data (Expert Interviews) 

Two expert interviews of 60 minutes each long were conducted over the phone. During 

the conversation, the detailed notes have been handwritten. The questions were pre-

pared in advance based on interview script that later were used as a basis for thematic 

analysis. The responses were reviewed and grouped into four key themes:    

• Enhancing traceability and transparency 

• Reducing supply chain risk and supply chain resilience 

• Building trust 

• Adoption challenges and barriers 

Later, these findings were synthesized and integrated with case study analysis to trian-

gulate findings and enhance reliability and credibility of the study. 

Secondary Data (Case Studies and Document Analysis) 

Secondary data was analyzed through publicly available documents including press re-

leases, company reports, newsletters, industry publications, peer-reviewed articles, 

websites, blogs, and social media resources. Particularly, the case study analysis was fo-

cused to evaluate and assess the use of blockchain, its benefits, weaknesses, challenges, 



37 

constraints across different industries (Terra Delyssa, Maersk, Walmart, and Volvo). Data 

were combined and identified by repeatable patterns and concepts and then contrasted 

to highlight industry-specific differences. 

 

Contribution of the Findings 

This two-stage analytical approach enabled to provide cross-case validation between ex-

pert insights and real-world case studies. By combing and synthesizing both primary and 

secondary data, the research illustrated comprehensive and structured outcomes allied 

with core study themes.  

 

3.5 Ethitical Considerations  

Due to chosen the qualitative and exploratory approach of this study, ethical consider-

ations was the priority. All participants were clearly informed about the purpose of the 

study, the procedure, potential risks, and their right to refuse the participation at any 

stage without any consequences. Confidentiality was strictly maintained by anonymizing 

participant responses and securely storing the data, respecting participant autonomy, 

privacy, and dignity. In addition, situational ethics were practiced to address unforeseen 

ethical challenges that might be arisen during data collection and analysis challenges 

that are common in qualitative research due to its immersive and evolving nature. (Reid 

et al., 2018) 

Ethical reflexivity was continuously practiced during research process with potential 

awareness of personal biases, power dynamics, and the influence of researcher-partici-

pant relationships. Such approach with ethical standards were used not only during data 

collection but also throughout data analysis and interpretations. Findings were reported 

with transparency and integrity while keeping participant anonymity and confidentiality. 

By applying ethical reflexivity and situational ethics into the research process, this study 

enables to present both the validity of its findings and the ethical integrity of the re-

search process (Creswell, 2018). 



38 

3.6 Validity and Reliability of the Data 

Validity and reliability of the research process play essential role in the rigor of this qual-

itative study. In qualitative research, validity refers to the credibility and authenticity of 

the data and interpretations, while reliability pertains to the consistency and dependa-

bility of the data collection and analysis procedures (Yin R. K., 2014). 

This study follows the four principles of high-quality case study research as outlined by 

Yin (2014), which supports findings validity and reliability: 

Use of Multiple Sources of Evidence (Triangulation): 

The research integrates multiple data sources, including expert interviews, document 

analysis, and case studies from the blockchain industry. Triangulation allows for cross-

verification of findings, enhancing validity and providing robust understanding of 

blockchain’s impact on supply chain transparency, security, and trust. 

Creation of a Case Study Database: 

All raw data including interview notes, and analyzed documents were systematically 

organized and securely stored. This structured documentation enhances reliability 

through traceability and ensuring that the research process can be audited and repli-

cated by external reviewers. 

Maintaining a Chain of Evidence: 

A clear and logical link is maintained between the research questions, the collected 

data, and the conclusion.  

Critical Evaluation of Electronic Sources: 

Due the nature of blockchain evolving, data from company websites, industry blogs, 

and online news platforms were included with careful evaluation. Each electronic 

source was critically assessed for credibility, authorship, and potential bias to ensure 

data authenticity, particularly when such sources are not peer-reviewed. 



39 

Additionally, preliminary findings were shared with participants to validate the accuracy 

and interpretations relevance. Reflexivity was also applied through researcher jour-

naling to maintain awareness of personal assumptions, values, and potential biases dur-

ing data collection and analysis (Lincoln, 2021). 

Thus, by applying these rigorous methodological principles, this study demonstrates 

credibility, validity, and reliability of its findings. The use of triangulation, systematic 

documentation, traceability, and critical evaluation of the sources provides a strong 

foundation for conducting credible and trustworthy multiple-case study research. 

 

3.7 Summary 

This chapter discussed the methodological framework that supports the study, high-

lighting the reason of qualitative, multiple case study approach. This approach is effec-

tive for exploring the complex and evolving nature of blockchain adoption in supply 

chain management across different industries. 

Although, the chapter describes how multiple data sources including expert interviews 

and secondary document analysis were integrated to ensure methodological rigor. Also, 

this section provides research quality tools, such as triangulation, systematic data or-

ganization, transparent chain of evidence, and critically evaluation of secondary sources. 

Ethical considerations, including informed consent, confidentiality, reflexivity, and situ-

ational ethics, were also addressed to uphold the integrity of the research process 

throughout the study. 

Based on methodological framework outlined in this chapter, the next chapter presents 

the empirical findings of the study, analyzing the real-world applications of blockchain 

technology across multiple industries and exploring challenges and opportunities re-

lated to its adoption in supply chain management. 



40 

4 Emperical Findings  

4.1 Introduction 

This chapter presents the empirical findings of the study, resulting from a qualitative 

analysis of both primary and secondary data sources. 

Primary data was collected through semi-structured interviews with experts in block-

chain and supply chain management, including the director of technology support from 

Kept Tech (formerly affiliated with KPMG Russia) and a logistics consultant from K3 Busi-

ness Solutions. These interviews provided practical insights on real-world barriers, gov-

ernance structure, adoption challenges, and potential opportunities related to block-

chain traceability systems. 

Secondary data was collected from credible and current sources such as company re-

ports, official websites, whitepapers, press releases, media articles, and peer-reviewed 

articles. The analysis based on four case studies presented by Terra Delyssa, Maersk, 

Walmart, and Volvo and covered the agri-food, logistics, retail, and automotive sectors. 

These cases provide diverse insights into the technical, institutional, and operational as-

pects of blockchain implementation. 

The findings are presented thematically according to the research objectives and the 

conceptual framework. The framework consists of two theories - Supply Chain Risk Man-

agement (SCRM) Theory and Trust Theory which guide the identification and interpre-

tation of key themes. Thematic analysis consists of blockchain’s contribution to improv-

ing traceability, reducing supply chain risks, enhancing resilience, and building trust 

among stakeholders.   

The themes explored in this chapter are directly aligned with the core research objec-

tives, focusing on blockchain's influence on transparency and trust, and challenges re-

lated to its scalability. This thematic outline provides a clear and structured foundation 

for discussion and theoretical analysis presented in the next chapter. 



41 

4.2 Case Study Overview - Terra Delyssa 

Terra Delyssa is a premium olive oil brand in agri-food sector owned by CHO Group and 

based in Tunisia. The company operates across 4,000 hectares and exports olive oil to 

over 40 countries. Thus, Terra Delyssa plays a significant role in the global olive oil market 

with focus on quality, sustainability, and transparency. In order to prevent and respond 

to concerns around food fraud, traceability, and consumer trust, CHO Group imple-

mented IBM Food Trust, a blockchain built on Hyperledger Fabric. The primary value was 

to ensure full product traceability and verify product authenticity from orchard to bottle. 

By adopting blockchain, the company managed to strengthen supply chain visibility, re-

duce fraud and counterfeiting, and build consumer trust through transparent, tamper-

proof product information via QR codes on each bottle. (CHO Group, 2023; IBM, 2020). 

 

4.2.1 Thematic Findings 

Theme 1: Enhancing Traceability and Transparency  

Terra Delyssa uses blockchain technology through the IBM Food Trust platform to make 

every step of its olive oil production fully traceable - from the orchard to the bottle. Each 

stage from harvesting, milling, testing, bottling to logistics is recorded immutably, allow-

ing consumers to scan a QR code on the bottle and access verified production and qual-

ity data. (CHO Group, 2023) 

This means that consumer could scan the QR code on a bottle and get access to verified 

information about how and where the product was made. (IBM, 2023) 

Such transparency supports the goals of Supply Chain Risk Management (SCRM) by re-

ducing gaps in information data and enabling faster recover if disruptions occur. Fur-

thermore, align with Trust Theory, blockchain helps to build interorganizational trust by 

replacing reliance on human error or factor to tamper-proof technological verification. 

(Montecchi et al., 2019). 



42 

Theme 2: Risk Reduction and Supply Chain Resilience  

Terra Delyssa uses IBM Food Trust to enhance supply chain resilience by reducing risks 

such as counterfeiting, mislabeling, and traceability gaps in the olive oil sector. By re-

cording each step of the process in a secure, time-stamped blockchain transaction, the 

company can guarantee product authenticity and data security across the entire supply 

chain network. (Kshetri, 2018) 

Tracing helps to detect disruptions faster and improves recall responses and operational 

flow. (Hao et al., 2024) 

These features align with SCRM Theory by minimizing both reputational and logistical 

risks. From a Trust Theory perspective, blockchain strengthens trust by tamper-proof 

technological verification and reduces intermediaries or human factor. (CHO Group, 

2023). 

 

Theme 3: Building Consumer and Stakeholder Trust  

Blockchain technology helps Terra Delyssa to build consumer trust by providing trans-

parent, verifiable product data accessible through QR codes, preventing mislabeling or 

counterfeiting. (IBM, 2023)  

The shared ledger structure also enhances interorganizational trust, as all supply chain 

members access the same tamper-proof data in real time. (Montecchi et al., 2019)  

To support this trust, smart contracts are used to enforce agreements. (Centobelli et al., 

2022).  

So, this approach aligns with Trust Theory by fostering cognitive trust (confidence based 

on reliable data) and institutional trust (confidence based on system’s structure and pro-

cesses). At the same time, it supports Supply Chain Risk Management (SCRM) Theory by 

reducing risks and increasing transparency across the entire network. 



43 

Theme 4: Challenges in Blockchain Adoption 

However, despite Terra Delyssa’s successful implementation of IBM Food Trust within 

its own operations, further scalability faces challenges, particularly in extending block-

chain to smaller suppliers lacking the financial, technical, or digital capacity to partici-

pate. (Rakhra et al., 2024) 

There are challenges such as low digital literacy, difficulties integrating with legacy sys-

tems, and concerns about data privacy and competitive sensitivity create barriers to 

blockchain scalability. (IBM, 2020) 

This highlights the crucial factors for blockchain integration not limited only technical 

infrastructure but also on stakeholder readiness and digital literacy of the regions.  

 

4.3 Case Study Overview – Maersk and TradeLens 

Maersk, one of the world’s largest integrated logistics and most innovative shipping com-

pany, was the first in the industry to launch a blockchain-based solution by partnering 

with IBM to develop TradeLens. The primary aim of TradeLens was to transform global 

container logistics and promote global trade. TradeLens was designed to reduce shipping 

delays and detentions, improving document flow, mitigate trade vulnerabilities through 

secure, transparent, and trustful platform for all stakeholders, including shippers, freight 

forwarders, customs authorities, port operators, and carriers. (A.P. Moller - Maersk, 

2019a) 

A significant milestone followed in 2019 when CMA CGM and MSC, two of the largest 

global shipping lines, joined the platform and as a result collectively represent nearly 

half of the global container shipping capacity. 

Thus, TradeLens was expected to enhance trade transparency, increase efficiency, and 

build interorganizational trust. (A.P. Moller - Maersk, 2019a) 



44 

4.3.1 Thematic Findings 

Theme 1: Enhancing Traceability and Transparency  

Maersk partnership with IBM enabled to provide transparency across global shipping 

transactions by immutably recording shipping milestones, customs documentation, and 

logistics data on a blockchain. TradeLens platform was design to provide stakeholders 

access to verified data, significantly reducing information delays and document fraud. 

(A.P. Moller - Maersk, 2019a) This enhanced transparency aligns with SCRM Theory by 

reducing information gaps and supports Trust Theory by shifting trust from personal in-

termediaries to  tamper-proof technological platform. (Montecchi et al., 2019) 

 

Theme 2: Risk Reduction and Supply Chain Resilience  

Blockchain integration helped Maersk to reduce operational risks by reducing shipping 

delays, minimizing manual paper workload, and mitigating vulnerabilities. Real-time 

tracking allowed Maersk early identify bottlenecks and delays, making shipping process 

resilient to disruptions.  (Hackius and Petersen, 2017) 

This increased transparency allied with Supply Chain Risk Management (SCRM) Theory 

by reducing information gaps and making global logistics operations more resilient to 

disruptions. (Montecchi et al., 2019) 

 

Theme 3: Building Consumer and Stakeholder Trust  

TradeLens helped to build interorganizational trust by providing secure, transparent ac-

cess to shipment data for all supply chain members. Its decentralized, tamper-proof 

blockchain architecture enhanced trust between stakeholders. (Brookbanks and Parry, 

2022a) 

However, Maersk’s dominant role in TradeLens platform created concerns that it could 

about its neutrality.  



45 

This directly reflects to key idea of Trust Theory when trust depends not only on the data 

reliability, but also on how this system is fair with open governance. (Montecchi et al., 

2019; A.P. Moller - Maersk, 2019a) 

 

Theme 4: Challenges in Blockchain Adoption 

However, even though TradeLens was technologically advanced, it faced serios adoption 

challenges due to stakeholder resistance. Many stakeholders complained about lack of 

standardization, legacy IT system compatibility, and data security. Furthermore, Maersk 

and IBM officially discontinued TradeLens in 2023 due to inability to achieve global in-

dustry collaboration and commercial sustainability. (Maersk, 2022) 

This outcome highlights that successful blockchain adoption depends not only on inno-

vation but also widely stakeholder alignment, maintenance neutrality and commercial 

viability.  

4.4 Case Study Overview – Walmart and Blockchain Adoption 

Walmart, one of the world’s largest retail chains has adopted blockchain technology to 

enhance food safety and traceability. In response to growing concerns over foodborne 

illnesses and supply chain inefficiencies, Walmart partnered with IBM to develop trans-

parent, responsive, secure food tracking system.  (Kamath, 2018b) 

The initiative began with pilot projects focused on tracing mangoes in the United States 

and pork in China, and later expanded to leafy greens, dairy products, and seafood. By 

using blockchain technology, Walmart dramatically reduced the time required to trace 

the origin of products - for example, tracking the source of mangoes dropped from seven 

days to just 2.2 seconds. (Kamath, 2018b; Walmart, 2019)  

This outcome in real-time traceability demonstrated how blockchain could improve food 

safety, reduce waste, and build trust among consumers. 

 



46 

4.4.1 Thematic Findings 

Theme 1: Enhancing Traceability and Transparency  

Blockchain implementation allowed Walmart to provide transparency and traceability 

across fresh food supply chain. By digitizing supply chain records on a blockchain, 

Walmart enabled the secure sharing of accurate and verifiable data such as farm origin, 

batch numbers, processing dates, storage temperatures, and transportation conditions. 

(Walmart, 2019) 

This contribution allies with SCRM Theory by reducing information asymmetry and sup-

ports Trust Theory through greater by fostering cognitive trust through verifiable, tam-

per-proof data. (Montecchi et al. 2019) 

 

Theme 2: Risk Reduction and Supply Chain Resilience  

Blockchain adoption helped Walmart mitigate foodborne illness risks and foreseen dis-

ruptions by identification and isolation of contaminated products. As a result, these ini-

tiatives improved recall responsiveness and contributed to overall supply chain resilience. 

(Walmart, 2019) 

The immutability of blockchain entries prevented tampering and ensured authenticity 

across records, supporting SCRM Theory objectives by enhancing operational risk control 

and reducing reputational damage from food safety incidents (Galvez et al., 2018). 

 

Theme 3: Building Consumer and Stakeholder Trust  

Walmart’s blockchain pilot project directly addressed the growing demand for transpar-

ency and accountability in food supply chain. By traceable data via QR codes allowed 

consumers verify product provenance and handling process. This visibility enhanced con-

sumer confidence and aligned with Trust Theory by shifting trust from traditional 



47 

intermediaries to a decentralized, tamper-proof system. (Kamath, 2018b; Shahzad and 

Hafeez, 2022)  

 

Theme 4: Challenges in Blockchain Adoption 

However, despite its success, Walmart’s blockchain initiative faced challenges related to 

scalability, data standardization, and stakeholder cooperation within supply chain. 

Achieving consistent data input across all members of the supply chain required invest-

ments in training, digital infrastructure, and clear maintenance guidelines. Additionally, 

the blockchain value needed to be clear for all participants, from farmers to retailers, to 

encourage full ecosystem adoption. (Sharma and Kumar, 2021) 

 

4.5 Case Study Overview – Volvo and Blockchain for Ethical Sourcing 

Volvo Cars was the first carmaker to adopt blockchain for tracing the ethical sourcing of 

cobalt, a critical material l in electric vehicle batteries production. In 2019, the company 

partnered with Circulor to implement end-to-end cobalt traceability using a blockchain 

system that records data such as origin, weight, and transport details. (Shahzad et al., 

2024; Volvo Cars, 2019a) This initiative was designed to prevent unethical practices in 

cobalt mining, in high-risk like the Democratic Republic of Congo. 

So, this solution enhanced visibility, accountability, and alignment with Volvo’s sustain-

ability goals. (Shahzad et al., 2024)  Additionally, Volvo has explored the use of block-

chain in logistics operations to reduce fraud, enhance transparency, and improve overall 

supply chain efficiency. (Volvo Trucks, 2019) 

4.5.1 Thematic Findings 

Theme 1: Enhancing Traceability and Transparency  

Volvo’s blockchain implementation allowed for real-time, end-to-end traceability of co-

balt, providing stakeholders verifiable data in the supply chain. This level of transparency 

helped reduce information gaps and supported Supply Chain Risk Management (SCRM) 



48 

Theory by improving visibility and transparency. (Montecchi et al., 2019; Shahzad et al., 

2024) 

 

Theme 2: Risk Reduction and Supply Chain Resilience  

By ensuring that raw materials met ethical and environmental standards, blockchain 

helped Volvo reduce reputational and operational risks. The ability to identify and pre-

vent disruptions supported operational resilience that is core focus of SCRM Theory 

framework. (Shahzad et al., 2024) 

 

Theme 3: Building Consumer and Stakeholder Trust  

Blockchain allows Volvo to demonstrate accountability and responsible sourcing to 

stakeholders by providing transparent, verifiable proof of ethical practices throughout 

the supply chain. Its tamper-proof architecture supports Trust Theory by shifting reliance 

away from institutional intermediaries toward a transparent and trustworthy system. 

(Montecchi et al., 2019; Xu et al., 2021) 

 

Theme 4: Challenges in Blockchain Adoption 

Despite clear benefits, Volvo’s blockchain initiative faced several practical challenges 

such as difficulties in collecting reliable data from remote mining regions, resistance 

from some supply chain partners to fully participate, and the complexity of integrating 

blockchain with legacy IT systems. Again as it was discussed earlier, successful blockchain 

adoption in supply chains depends not only on technological maturity but also on stake-

holder alignment, effective governance frameworks, and overall ecosystem readiness.  

(Shahzad et al., 2024; World Economic Forum, 2020)  

 

4.6 Expert Interview Findings  

This section presents the findings from two expert interviews conducted to complement 

the multiple case studies analysis. Each interview lasted for 60 minutes and was 



49 

conducted via phone call. The main goal of these interviews was to provide practical, 

firsthand insights into blockchain adoption within supply chains, with a focus on tracea-

bility, risk management, trust, and implementation challenges.  

The first interviewee was technology director from Kept Tech (formerly KPMG Russia) 

who is in charge of regulatory compliance and traceability systems. And the second was 

logistics consultant from K3 Business Solutions with expertise in supply chain operations 

and warehouse logistics at IKEA.  

Their responses are organized thematically according to the core categories used in the 

case studies analysis. 

 

Theme 1: Enhancing Traceability and Transparency  

Both interviewees emphasized the importance of transparency and traceability in mod-

ern supply chains, particularly in relation to consumer confidence and government con-

trol. The consultant from K3 Business Solutions confirmed that IKEA’s values are based 

on traceability but currently achieves this through Microsoft-based ERP system not 

blockchain. He noted that while blockchain technology could enhance traceability and 

transparency, it seems unrealistic in IKEA’s nearest future due to infrastructure limita-

tions among suppliers’ system complexity and general slow approach to innovation. 

"IKEA is very customer-oriented, and transparency is a key value, but ERP systems already 

handle most of the traceability." 

In contrast, the technology director from Kept described the implementation highly cen-

tralized a state-driven QR code-based system in Russia called "Честный Знак" (Honest 

Sign) created on blockchain principals of traceability and transparency. He noted that 

this QR track and trace systems operates for over five years and covers more than 70% 

of industries. When it comes for import, each good based on HS code must be marked 

and traced through this system as well. It means, that all domestic and import goods are 



50 

fully tracked and traced, as items can be marked during customs clearance or directly by 

foreign manufactures. 

"Each import product that has an HS code must be marked and traced through the 

'Честный Знак' system." 

He also highlighted that while this platform prevents counterfeiting but also provides 

access into financial transactions and control over distribution channels to the govern-

ment.  

Theme 2: Risk Reduction and Supply Chain Resilience  

The K3 Business Solutions consultant noted that IKEA's current ERP infrastructure al-

ready supports effective risk management across its supply chain, including warehouse 

operations and inventory replenishment. However, he also emphasized that such com-

pany as IKEA is slow to adapt to changes that makes additional barriers to respond to 

emerging risks or disruptions. 

"IKEA is extremely standardized and slow in process... even for opening city stores, there’s 

still no unified guideline." 

The Kept consultant did not comment directly on operational risk mitigation but noted 

that government control over traceability systems in Russia contributes to resilience by 

enabling oversight of production, and distribution processes.  

 

Theme 3: Building Consumer and Stakeholder Trust 

Both experts expressed differing points of views on how trust is built in supply chains. 

The Kept technology director highlighted that in centralized systems like Russia’s, trust is 

enforced institutionally through top-down governance, completely contrasting with 

blockchain’s distributed trust model which relies on transparency and technological 



51 

consensus. The centralized "Честный Знак" system ensures compliance and data integ-

rity, leaving little room for blockchain of decentralized trust. 

Meanwhile, the K3 Business Solution consultant pointed out that IKEA builds trust 

through consistent use of standardized ERP systems, which support internal accounta-

bility and data integrity without using blockchain.  

"Transparency is a key value, but IKEA already achieves it through strong processes." 

Thus, these perspectives suggest that trust is still primarily shaped by institutional or 

system-based mechanisms rather than technological decentralization like blockchain 

technology. 

Theme 4: Challenges in Blockchain Adoption 

Challenges in blockchain adoption emerged as the most prominent theme across both 

interviews. According to K3 Business Solutions consultant emphasized several barriers 

of blockchain adoption including low digital literacy among suppliers, reliance on legacy 

systems, and the company’s slow pace of innovation. 

“You might be surprised how little IKEA invested in technical innovation in the last couple 

of decades.” 

The Kept Tech expert reinforced this by proposing that blockchain is unlikely to be de-

veloped in environments dominated by centralized regulatory frameworks. Since the 

government already benefits economically and politically from existing systems, block-

chain adoption is not prioritized. 

"Blockchain is not in the government’s interest, and it hasn’t had a chance to exist." 

In summary, both interviews revealed that blockchain adoption faces significant struc-

tural and contextual barriers. These insights highlight that beyond technology, success-

ful blockchain adoption depends on ecosystem readiness, governance models, and 

stakeholder alignment. 



52 

4.6.1 Summary of Interview Findings and Cross-Case Comparison 

The expert interviews reinforced and contrasted findings of the four case studies (Terra 

Delyssa, Maersk, Walmart, and Volvo). While both interviewees acknowledged the 

blockchain value in enhancing transparency and trust, their expertise highlighted signif-

icant limitations related to infrastructure, standardization, and governance. 

 

Theme 
K3 Business Solutions  

logistics consultant 

Kept Tech (former KPMG RU) 

Director, technology support 
Case Study 

Traceability & 

Transparency 

Achieved via ERP systems; 

blockchain not adopted 

Enforced via centralized system 

(Честный Знак) 

Terra Delyssa, 

Walmart 

Risk 

Management 

ERP systems help manage 

risks effectively 

Centralized oversight mitigates 

risks 

Maersk, Volvo, 

Walmart 

Trust 
Built through brand and 

process standardization 

Institutional trust through gov-

ernment control 

Terra Delyssa, 

Volvo, Walmart 

Adoption 

Barriers 

Low digital readiness, lack 

of technology investments, 

supplier onboarding issues 

Blockchain not aligned with 

government interests 

All cases, espe-

cially Maersk  

Table 3. Interview Findings and Cross-Case Comparison 

 

This cross-case and interview summary table illustrates how governance structure and 

technological readiness effect on blockchain adoption. 

Interviews highlight that even in organizations where transparency is a priority, block-

chain may not be adopted due to systemic and operational constraints. In contrast, cen-

tralized systems like "Честный Знак" provide traceability without decentralization. 

These nuances are crucial in terms of blockchain’s practical viability across industries and 

countries. 

  



53 

5 Discussion of Findings and Conclusion 

5.1 Introduction 

This chapter brings together the main findings from the case studies and expert inter-

views to explore how blockchain technology enhances transparency, strengthens risk 

management, and fosters trust within supply chains across different industries. The dis-

cussion is structured thematically based on the conceptual framework designed in the 

literature review chapter, with a focus on Supply Chain Risk Management (SCRM) Theory 

and Trust Theory. Each theme is explored through cross-case analysis and supported by 

expert insights, and then compared with existing research. The chapter concludes with 

reflections on theoretical and practical implications, study limitations, and recommen-

dations for future research. 

 

5.2 Synthesis of Findings  

Theme 1: Enhancing Traceability and Transparency 

The findings of this study demonstrate that blockchain adoption enhances traceability, 

strengths resilience, and builds trust in supply chains across different industries. How-

ever, implementation outcomes vary significantly depending on sector-specific factors, 

stakeholder readiness, and governance models. 

In the food and retail sectors, as seen in Terra Delyssa and Walmart study cases, block-

chain technology improved product traceability from origin to shelf, helped to enhance 

food safety, and gave consumers greater transparency through QR codes. These exam-

ples demonstrate how blockchain can build consumer trust and improve the efficiency 

of product recalls. In the logistics sector, Maersk used blockchain to streamline docu-

ment handling and reduce trade-related inefficiencies. However, the TradeLens platform 

faced significant challenges to scalability due to governance issues, lack of alignment 

among stakeholders, legacy IT system compatibility, and commercial sustainability.  In 



54 

the automotive industry, Volvo applied blockchain technology to support ethical sourc-

ing and meet regulatory requirements, helping manage reputational risks and aligning 

to sustainability values. 

The expert interviews emphasized that traceability, trust, and risk management are cru-

cial in both highly standardized environments like IKEA and in centralized government 

systems such as those in Russia. 

In addition, consultant from K3 Business Solutions highlighted potential value of block-

chain adoption for traceability in terms of complex supply chains like IKEA’s, but mean-

while noted that such benefits are unrealistic at the moment and the nearest future due 

to legacy systems, standardized environment, and lack of scalability. 

The expert from Kept Tech (formerly KPMG) presented an alternative model, describing 

how centralized government systems using QR codes to prevent counterfeiting can pro-

vide transparency and traceability for state oversight and control. 

These findings align with previous research that highlights blockchain’s role in increasing 

traceability by creating immutable, time-stamped records in supply chains. (Batwa and 

Norrman, 2021; Budler, Quiroga, and Trkman, 2024; Centobelli et al., 2022; Hao et al., 

2024; Kalpana et al., 2023; Montecchi et al., 2019) Likewise, in the food industry, block-

chain enhances transparency and traceability providing access to data across the entire 

farm-to-fork supply chain. (Gupta and Shankar, 2024) 

However, the case studies also show that the scope and focus of traceability vary by 

industry, with food supply chains emphasizing consumer transparency and automotive 

supply chains focusing on regulatory compliance and sustainability goals. (Gupta and 

Shankar, 2024) 

Blockchain’s decentralized and tamper-proof nature helps companies provide accurate 

and transparent data, which is especially valuable in managing risks, promoting sustain-

ability, and ensuring ethical practices. (Rakhra et al., 2024) In Volvo’s case, this 



55 

technology played a key role in tracking the responsible sourcing of cobalt, supporting 

both regulatory compliance and the company’s sustainability values. 

In conclusion, the findings from both the industry case studies and expert interviews 

align with conceptual literature framework. The Supply Chain Risk Management Theory 

is supported by the findings, which confirm that improved traceability leads to better 

decision-making, more effective disruption prevention, and risk mitigation. At the same 

time, Trust Theory is supported by how blockchain fosters both interpersonal and inter-

organizational trust through shared access to secure, tamper-proof, and verifiable data. 

 

Theme 2: Risk Reduction and Supply Chain Resilience  

The case studies demonstrate how blockchain can enhance supply chain resilience and 

transparency by improving traceability and data accuracy. For example, Terra Delyssa 

and Walmart use IBM Food Trust to prevent counterfeiting, mislabeling, and traceabi