With the growing popularity of cryptocurrencies, Blockchain systems have found a new audience within the business environment. The decentralized ledger technology that allows the creation of verifiable transactions has extraordinary applications within business. In this paper the authors have attempted to identify the core benefits of using Blockchain technology to improve Supply Chain Management (SCM). With industry 4.0 transformation in its preliminary stages, a discussion on how Blockchain systems can benefit SCM is important. Like any other information system, Blockchain implementation is not just limited to infrastructure changes but also requires organisational wide changes to reap the benefits of the new system. The inherent technological issues associated with Blockchain are preventing many organizations from adopting Blockchain systems at a large scale. The authors have presented a model to guide the implementation of the Blockchain based systems using the industry accepted Capability Maturity Model (CMM) as the reference.