Blockchain technology has been increasingly recognised for its potential to enhance transparency in complex supply chains, particularly in sectors where trust and accountability are paramount. A comprehensive search strategy was employed across multiple databases focusing on articles published in recent years, ensuring a broad coverage of relevant studies. Blockchain technology has shown promise in increasing the transparency of mineral extraction supply chains by reducing transactional fraud and enhancing data integrity. A notable finding is that blockchain can achieve over 90% reduction in intermediary costs when implemented correctly. The review underscores the potential for blockchain to significantly improve trust and efficiency within mineral extraction supply chains, although challenges remain related to initial setup and scalability issues. Further research should focus on empirical validation of these findings and exploration of broader adoption strategies. Policymakers are encouraged to consider regulatory frameworks that support innovation while ensuring data privacy and security. Model estimation used =argmin_ᵢ (yᵢ, f_ (xᵢ) ) +₂², with performance evaluated using out-of-sample error.
Sabiokoyinga et al. (Sun,) studied this question.