The purpose of the study is to identify and explore different applications of blockchain technology in supply chain management and suggest a framework for their analysis. The study addresses researchers’ conflicting opinions regarding the hype of blockchain and clarifies which minor applications are hyped and which are currently more applicable. That helps supply chain practitioners appraise the different applications of blockchains before it is too late to revise a decision regarding their use. The framework was developed based on a systematic literature review of blockchain-related articles, and it was examined with semi-structured interviews with four companies that applied the technology. Findings from the study suggested that traceability and supply chain finance seemed to be the most applicable applications of blockchain technology in supply chain management. But, light was also shed on other applications such as: compliance with standards, supply chain integration and digitalization of the transactions. This study was restricted by the availability of applied cases, as blockchain remains an emerging technology. Therefore, this study cannot be considered a case research, but a literature review followed by a limited number of interviews. However, the study resulted in a conceptual framework that forms the basis for further exploratory studies with more empirical data.