Conference Paper

Blockchain Technology for Transparency and Fraud Prevention in Supply Chain Management

Abstract A quantitative study involving 145 supply chain professionals at Shell Lagos, Nigeria, analyzed the impact of blockchain technology on supply chain transparency and fraud prevention. The findings revealed a strong positive correlation (R = 0.949) between blockchain adoption and transparency, with blockchain factors accounting for 90% (R² = 0.900) of the variance in transparency. The model was statistically significant (F = 288.9, p < 0.000). Regression coefficients indicated significant contributions from blockchain project count (B = 0.315), investment (B = 1.977e-05), patents (B = 0.511), and adoption rate (B = 1.200) to improving transparency. Positive correlations were observed between supply chain transparency and blockchain investment (r = 0.700), project count (r = 0.400), and patents (r = 0.385), while a weak negative correlation was revealed with adoption rate (r = -0.063), suggesting potential challenges in the adoption process. The study however recommends an increased investment in blockchain projects and the encouragement of blockchain-related patents should be prioritized in enhancing supply chain transparency and reducing fraud. Keywords: Blockchain, Fraud Prevention, Supply Chain Management, Transparency