Contracting in the Age of Blockchain: Case of a Global Value Chain

Blockchain technology is a groundbreaking innovation that is being discussed in the literature and practice these days. Several blockchain consortiums are emerging rapidly across the globe as Blockchain offers innovative means of promoting collaborations in inter and intra-organizational contracts. Blockchain-based Smart Contracts are self-executable, tamperproof, immutable, peer-to-peer traceable, transparent, secure, and free of intermediaries. These are vital factors for cross-organizational workflows such as global value chains (GVCs) that have an ever-growing need to contract with their globally dispersed partners. Therefore, this study will conceptually examine the use of Blockchain-based contracting in GVCs to address Trust, Traceability, and Transparency (3T) concerns. It is expected that blockchain will be able to address the 3Ts of GVC contracting. The study\u27s findings will contribute to the body of knowledge and help policymakers devise plans to test Blockchain in other similar industries