The feasibility of Blockchain solutions in the maritime industry

• Purpose / ValueThe concept of Blockchain technology in supply chain management is well discussed, yetinadequately theorized in terms of its applicability, especially within the maritime industry,which forms a fundamental node of the entire supply chain network. More so, the assumptivegrounds associated with the technology have not been openly articulated, leading to unclearideas about its applicability.Design/methodology/approachThe research is designed divided into two Stages. This paper (Stage one) enhancedliterature review for data collection in order to gauge the properties of the Blockchaintechnology, and to understand and map those characteristics with the Bill of Ladingprocess within maritime industry. In Stage two an online questionnaire is conducted toassess the feasibility of Blockchain technology for different maritime use-cases.FindingsThe research that was collected and analysed partly from deliverable in theConnect2SmallPort Project and from other literature suggests that Blockchain can be anenabler for improving maritime supply chain. The use-case presented in this paper highlightsthe practicality of the technology. It was identified that Blockchain possess characteristicssuitable to mitigate the risks and issues pertaining to the paper-based Bill of Lading process.Research limitationsThe study would mature further after the execution of the Stage Two. By the end of bothStages, a framework for Blockchain adoption with a focus on the maritime industry wouldbe proposed.Practical implicationsThe proposed outcome indicated the practicality of technology, which could be beneficialfor the port stakeholders that wish to use Blockchain in processing Bill of Lading orcontracts.Social implicationsThe study may influence the decision makers to consider the benefits of using the Blockchaintechnology, thereby, creating opportunities for the maritime industry to leverage thetechnology with government’s support.

Subject headings

TEKNIK OCH TEKNOLOGIER  -- Elektroteknik och elektronik -- Annan elektroteknik och elektronik (hsv//swe)

ENGINEERING AND TECHNOLOGY  -- Electrical Engineering, Electronic Engineering, Information Engineering -- Other Electrical Engineering, Electronic Engineering, Information Engineering (hsv//eng)

Keyword

Digitalization

Blockchain

Maritime

Bill of Lading

Feasibility study

Publication and Content Type

vet (subject category)

kon (subject category)