0704-883-0675     |      dataprojectng@gmail.com

An Evaluation of the Impact of Blockchain Technology on Supply Chain Transparency in Fidelity Bank, Yobe State

  • Project Research
  • 1-5 Chapters
  • Abstract : Available
  • Table of Content: Available
  • Reference Style:
  • Recommended for :
  • NGN 5000

Background of the Study

Blockchain technology has gained widespread recognition for its ability to enhance transparency, security, and accountability in various sectors, including supply chain management (Narayan et al., 2023). In particular, blockchain offers a decentralized, immutable ledger that records transactions in real-time, making it an ideal solution for improving transparency in supply chains where trust and traceability are critical. For financial institutions such as Fidelity Bank in Yobe State, leveraging blockchain technology can streamline operations, enhance visibility, and reduce fraud, ultimately improving the management of resources and the relationship between the bank and its suppliers.

The integration of blockchain technology into supply chain processes has the potential to revolutionize how banks manage and track financial transactions related to procurement, inventory management, and logistics (Zhao & Li, 2024). As blockchain technology provides an encrypted, transparent record of every transaction within a supply chain, it reduces the risk of fraud and human error, providing banks with a more reliable method of tracking and auditing transactions (Makarov & Schoar, 2023). In the context of Fidelity Bank, Yobe State, the application of blockchain could significantly enhance supply chain operations by enabling the bank to monitor supplier performance and verify transactions more efficiently.

This study explores how blockchain technology impacts the transparency of Fidelity Bank's supply chain operations, focusing on factors such as data accuracy, supplier accountability, and operational efficiency. Given the growing interest in digital innovations in financial services, understanding the potential benefits of blockchain for improving supply chain transparency will contribute to the broader discourse on the digital transformation of the banking sector in Nigeria.

Statement of the Problem

While blockchain technology has been touted as a tool for enhancing supply chain transparency, its application within the banking sector, specifically at Fidelity Bank in Yobe State, remains underexplored. As a financial institution, Fidelity Bank faces significant challenges in managing its supply chain and ensuring transparency, particularly in the procurement of goods and services and the evaluation of supplier performance. Without proper visibility into the activities of suppliers and the flow of goods, Fidelity Bank could face operational inefficiencies, fraud, and other risks that could undermine its competitive edge. Thus, there is a need to evaluate how blockchain technology can address these challenges by offering a more transparent and efficient way to manage the bank's supply chain operations.

The gap in understanding the specific impacts of blockchain on supply chain transparency in Fidelity Bank necessitates further investigation. The findings of this study could provide valuable insights into the integration of blockchain in the banking sector, particularly for improving operational integrity and building trust in supplier relationships.

Objectives of the Study

1. To evaluate the impact of blockchain technology on the transparency of supply chain operations at Fidelity Bank, Yobe State.

2. To assess the benefits of blockchain in improving the accuracy and accountability of supply chain transactions at Fidelity Bank.

3. To recommend strategies for further integrating blockchain technology to enhance supply chain transparency in Fidelity Bank.

Research Questions

1. How does blockchain technology impact the transparency of supply chain operations at Fidelity Bank, Yobe State?

2. What are the benefits of using blockchain for improving accuracy and accountability in Fidelity Bank's supply chain?

3. What strategies can be implemented to fully integrate blockchain technology to improve supply chain transparency at Fidelity Bank?

Research Hypotheses

1. Blockchain technology has no significant impact on the transparency of supply chain operations at Fidelity Bank, Yobe State.

2. The use of blockchain technology does not significantly improve the accuracy and accountability of supply chain transactions at Fidelity Bank.

3. There are no significant strategies that can be implemented to integrate blockchain technology for enhancing supply chain transparency at Fidelity Bank.

Scope and Limitations of the Study

The research will focus on Fidelity Bank's supply chain operations in Yobe State, with an emphasis on evaluating the impact of blockchain technology on supply chain transparency. The study will involve reviewing internal records, conducting interviews with key personnel, and analyzing the bank's blockchain implementation. However, the study's limitations may include the availability of data, especially as blockchain technology is relatively new in the banking sector, and access to some confidential records may be restricted.

Definitions of Terms

• Blockchain Technology: A decentralized, digital ledger system that records transactions in a secure, transparent, and immutable manner.

• Supply Chain Transparency: The degree to which the components of a supply chain, including suppliers, processes, and transactions, are visible and verifiable to stakeholders.

• Financial Institution: An organization that provides services related to money management, such as loans, investments, and savings.

 





Related Project Materials

ECONOMICS OF FARM-GATE RICE MARKETING IN ENUGU STATE, NIGERIA

ABSTRACT

Rice has become a staple food, just like yam, garri and beans.  As a result, the marketing of rice has...

Read more
An Evaluation of the Effectiveness of Pain Management Strategies for Elderly Patients in Taraba State

Background of the Study

Pain in elderly patients is a significant healthcare challenge, particularly...

Read more
THE EFFECT OF SOCIAL MEDIA ON VOTING BEHAVIOUR IN NIGERIA [A CASE STUDY OF SOME SELECTED VOTERS IN LAGOS STATE]

Abstract

The advent of internet and technology has exposed majority of the global population to different interactive p...

Read more
INFLUENCE OF EXPOSURE TO ROMANTIC MOVIE ON DIGITAL MEDIA ON MARRIAGE EXPECTATIONS AMONG KWASU UNDERGRADUATE

​​​​​​​Background of the study

Digital media, often known as new media, is the 'lovebird' of to...

Read more
The Effect of Family Planning Education by Nurses on Contraceptive Uptake in Federal Medical Centre, Lafia

Background of the Study

Family planning remains a cornerstone of public health efforts to reduce maternal mortality, control population g...

Read more
An Evaluation of the Impact of Government Accounting on the Equitable Distribution of State Allocations: A Study of Akwa Ibom State

Background of the Study

The equitable distribution of state allocations is a critical aspect of resourc...

Read more
THE ROLE OF COST ACCOUNTING IN PRICING DECISIONS: A CASE STUDY OF NESTLE NIGERIA LTD.

Abstract: THE ROLE OF COST ACCOUNTING IN PRICING DECISIONS: A CASE STUDY OF NESTLE NIGERIA LTD.

This research explores the role of cost a...

Read more
The Challenges of Covering Election-Related Violence in Chikun LGA, Kaduna State

Background of the Study
Election-related violence is a recurrent issue in Nigeria's political landscape, often undermin...

Read more
Analysis of the Performance of Parallel Processing Algorithms in University Data Centers: A Case Study of Ahmadu Bello University, Zaria (Zaria LGA, Kaduna State)

Background of the Study
As universities continue to embrace digital technologies for administrative functions, research, an...

Read more
An evaluation of the role of forensic accounting in fraud detection in Nigerian banks: A case study of Access Bank Plc.

Background of the Study

Forensic accounting has gained significant attention in the financial sector, particularly in de...

Read more
Share this page with your friends




whatsapp