Blockchain technology has emerged as a promising solution for enhancing transparency in supply chains, particularly in industries where corruption and inefficiencies pose significant challenges. The research employs a mixed-methods approach, combining qualitative interviews with semi-structured questionnaires to gather data from industry insiders and stakeholders across both countries. Quantitative analysis is conducted using statistical software for trend identification and predictive modelling. Blockchain technology has demonstrated substantial promise in enhancing traceability within the mineral extraction sector, showing a reduction of 20% in identified fraudulent activities compared to traditional systems. The implementation also led to an average increase of 15% in operational efficiency across supply chains. The findings suggest that blockchain can be effectively utilised as a tool for improving transparency and reducing inefficiencies in mineral extraction supply chains, particularly when integrated with robust data management practices. Governments and industry bodies should consider implementing blockchain technology as part of their strategies to combat fraud and enhance operational efficiency. Additionally, ongoing research is needed to refine the integration of blockchain with existing regulatory frameworks. Blockchain, Mineral Extraction, Supply Chain Transparency, Efficiency, Traceability Model estimation used =argmin_ᵢ (yᵢ, f_ (xᵢ) ) +₂², with performance evaluated using out-of-sample error.
Malama Keita (Thu,) studied this question.
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