Blockchain Technology Implementation in Malaysian Retail Market

Mahadi Hasan Miraz, Mohamad Ghozali Hasan and Kamal Imran Sharif

Blockchain technology involves an essential activity such as retail transaction, secure money transfer and swift authentication specially in retail market industry Malaysia. In this industry, it is important to have a better management of monetary transaction by assigning it to proper blockchain orders. This can help to achieve the main goal in blockchain implementation in retail market, which is to make secure, safe and fast transaction for retail customer. In addition, the management of risks is considered as a key discipline of blockchain requirement model. Nevertheless, studies related to retail blockchain technology in supply chain management are still scares for the benefits of reducing the possibility of losing investment in industrial supply chain expenditure. Thus, this study aims to produce a retail blockchain technology requirement model for increasing customer benefits to improve the industrial supply chain activities. To achieve the main aim, this study comprises of four main phases, which are theoretical study, development of industrial supply chain risk quantification program, development of the requirement model and evaluation of the proposed requirement model. It is hoped that the proposed requirement model will be able to determine the best option for blockchain implementation in retail market. By having this model, project manager will be able to plan, monitor and make strategic decision regarding blockchain implementation in any organization, company or industry.

Volume 11 | 05-Special Issue

Pages: 991-994