A blockchain refers to a digital ledger of transactions that is duplicated and distributed across the network of computers in blocks. This study attempts to present Blockchain Technology (BCT) as an effective tool for managing risks inherent in supply chain. Based on extant literature and experts’ opinion collected through in-depth interviews, a general impression is drawn on the current state of BCT as an application in supply chains of organizations. A qualitative study based on Interpretivism theory was conducted where experts from related domain were interviewed on various themes related to BCT and its role in Supply Chain Risk Management (SCRM). It was discovered that the concept of Blockchain is relatively new and is mostly unexplored in the Supply Chain Management (SCM). Moreover, there exists confusion among people regarding the distinction between blockchain and bitcoin. This leads to unwillingness to adopt BCT in managing risks in supply chain. All the experts collectively agreed that traceability, immutability, and transparency features of blockchain can improve the risk management of supply chains.