# Leveraging the Internet of Things and Blockchain Technology in Supply Chain Management
## 5 Combining IoT with Blockchain Technology: Emerging Research Areas
### Effectiveness and Efficiency of Information Flows  
Blockchain applications create new opportunities with respect to tracking physical assets and goods in multi-party supply chains. Verified supply chain exchange partners will be informed about relevant assets, products or merchandise, whether online, in-transit, or in-store [77]. When informed about the movement of physical assets (totes, pallets, shipping containers), raw materials or ingredients, components or end consumer products, firms attain better control of their supply chains. Subsequently, firms are increasingly facilitating consumer access to product related information online or through mobile devices. For instance, consumers can use a smartphone to scan a barcode or QR code on the primary packaging of a food product and access relevant data and information recorded on a Blockchain system. This could include information such as product and brand information, allergens, ingredients, product origin (provenance), traceability, processing method, transportation and its route to market. The product supplier's ability to assure transaction authenticity and record and provide an open report on the transfer of ownership remains one of the core benefits of Blockchain technology [115]. As an illustration, the use of IoT along with Blockchain in the cold chain for the storage and distribution of perishable food products is proving to be critical in reflecting the leverage achieved by utilizing IoT sensors and Blockchain technology together. For example, companies such as OriginTrail and ZetoChain use an open, standards-based Blockchain platform for the supply chain. The former company aligns with the global industry standards body GS1 to ensure its open source Blockchain protocol integrates and interoperates with the globally recognized and utilized industry-standard used to uniquely identify products, physical locations such as farms, factories or distribution centers and a firm's unique global identification. The latter company monitors every link of the cold chain based on the usage of IoT devices [116]. Any problem that occurs is immediately identified, and the supply chain exchange partners are notified accordingly to enable swift action to be taken. Sensors combining the usage of GPS, temperature data and smart contracts are harnessed to automate the process and update a product's digital profile whenever anomalies are detected during the distribution phase. Accordingly, mobile apps are increasingly being used by consumers to scan labels on products in order to locate a product's history [117].  
Equally important, the combination of Blockchain technology and IoT provides a reliable infrastructure for improving supply chain information management, arranging legal agreements and securing the storage of IoT device identities throughout the product's life-cycle stages [118]. Critical threshold data captured with sensors and stored on the Blockchain are useful for managing plant equipment, predicting failures, and scheduling appropriate proactive repair and maintenance before breakdowns occur. Regulators, suppliers of machinery and spare parts,, as well as repair and maintenance service providers, could gain shared access to equipment records and provide inspections and certifications to achieve high equipment availability and utilization [119]. Therefore, it is anticipated that the integration of Blockchain technology with IoT will be a catalyst for increased remote machine diagnostics, reciprocal data analytics, and machine-to-supplier interactions resulting in improved spare parts replacement and overall maintenance practices [120]. We therefore propose:  
* RP4: Blockchain technology positively impacts the effectiveness, efficiency, and integrity of information flows in IoT solutions.