In the rapidly evolving world of new energy vehicles (NEVs), transparency and sustainability are becoming as crucial as the technology itself. As the NEV industry accelerates, so do concerns about battery quality and the environmental impact of recycling. Enter blockchain technology, a potential game-changer in addressing these issues. However, integrating blockchain into the NEV supply chain isn’t without its challenges, particularly regarding consumer privacy. A groundbreaking study published in the journal Mathematics, led by Yuling Sun of Nanjing Tech University’s College of Economics and Management, sheds light on how blockchain can be effectively utilized in the NEV supply chain, considering consumer preferences for green recycling.
Sun and her team constructed a sophisticated Stackelberg game model to examine the strategic decisions of supply chain participants when adopting blockchain technology. The model considers a three-stage supply chain involving a battery supplier, an NEV manufacturer, and a third-party recycler. The researchers explored three scenarios: not adopting blockchain traceability, adopting blockchain with forward traceability, and adopting blockchain with forward-reverse traceability.
The findings are intriguing. “We found that NEV supply chain members are more likely to adopt forward-reverse traceability under certain conditions,” Sun explained. This means that when consumers have strong preferences for green recycling, third-party recyclers are more inclined to invest in blockchain-based recycling. The technology enhances the accuracy and credibility of recycling data, making it a valuable tool for environmentally conscious consumers.
The study also reveals that the adoption of blockchain drives up wholesale and retail prices, especially under forward-reverse traceability. This price increase is a direct result of the enhanced transparency and trust that blockchain provides. For the energy sector, this could mean a shift towards more sustainable and transparent practices, albeit at a higher cost.
The implications for the energy sector are significant. As NEVs become more prevalent, the demand for transparent and sustainable supply chains will only grow. Blockchain technology, with its ability to provide forward-reverse traceability, could be the key to meeting this demand. However, it’s not just about adopting the technology; it’s about understanding how it impacts strategic decisions across the supply chain.
Sun’s research suggests that the future of the NEV supply chain lies in a delicate balance between technological innovation and consumer preferences. As the industry continues to evolve, so too will the strategies employed by supply chain participants. The adoption of blockchain, with its potential to enhance transparency and sustainability, could very well shape the future of the energy sector.
For energy companies, the message is clear: embracing blockchain technology could be the next big step in meeting consumer demands for green recycling and sustainable practices. As Sun’s research illustrates, the benefits are substantial, but so are the challenges. The key lies in understanding these dynamics and adapting strategies accordingly. The future of the NEV supply chain is here, and it’s blockchain-powered.