Blockchain adoption from the Shipping industry: An empirical study

Kapnissis, George; Vaggelas, George K.; Leligou, Helen C.; Panos, Apostolis; Doumi, Maria

doi:10.1016/j.martra.2022.100058

Cited by 22 publications

(12 citation statements)

References 39 publications

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“…The successful application of blockchain technology in the maritime industry can be achieved through certain considerations (Kapnissis et al , 2022; Peronja et al , 2020), it may need changing the business model and governance and not just replace the new technology with the traditional one as this may have a negative value on the company (Martin, 2018). The required business model structure requires decentralization; governance frameworks; enterprise-grade security; native compatibility of legal, tax and accounting systems; and scalability.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Peronja et al (2020) show that by implementing blockchain technology savings in time and money could be generated by presenting costs of container freights and rates in the previous years and assumes possible future costs of container freights and rates. Kapnissis et al (2022) investigated the willingness of shipping companies to adopt Blockchain technology using a survey study of Greek bulk shipping businesses.…”

Section: Literature Reviewmentioning

confidence: 99%

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Toward a model to enhance the applicability of blockchain in maritime shipping: a qualitative study from the Middle East

Abushaikha,

Albahsh,

Alsayes

et al. 2023

MBE

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Purpose Existing literature is still lacking field works that reflect the implications and applications of blockchain in supply chain management. This paper aims to explore the role of blockchain technology in improving the performance of maritime shipping and develop a model to enhance blockchain applicability. Design/methodology/approach Qualitative data were collected through 28 semi-structured interviews from several supply chain actors in the Middle East and were analyzed based on a thematic analysis approach using NVivo software. Findings An emerging model for improving the performance of the maritime shipping industry through blockchain technology has been developed. The findings suggest that there are transparency and process efficiency–related improvements as an outcome of Blockchain implementation in the maritime shipping industry. Practical implications As shipping industry is largely fragmented, small players find it difficult to achieve great benefits such as those achieved by larger players in the sector. The authors’ model provides guidance for the implementation of Blockchain. Originality/value To the best of the authors’ knowledge, this is one of the first scholarly works to investigate Blockchain applicability in shipping industry in the Middle East. The lack of a universal standard is a considerable challenge which is still hindering the development of blockchain applications that integrate the different actors.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Toward a model to enhance the applicability of blockchain in maritime shipping: a qualitative study from the Middle East

Abushaikha,

Albahsh,

Alsayes

et al. 2023

MBE

View full text Add to dashboard Cite

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“…Blockchain LC dapat meningkatkan efisiensi proses melalui proses digitalisasi dokumen, otomatisasi pengecekan dokumen, serta otomatisasi pembayaran melalui smart contract (Bhat & Nor, 2021;Fridgen et al, 2021;Kapnissis et al, 2022;Larson, 2018;Takahashi, 2018). Fitur dalam blockchain meningkatkan kemanan dan visibilitas atau transparansi transaksi bagi para pihak yang terlibat (Al-Amaren et al, 2020;Chang et al, 2019).…”

Section: Gambar 5 Persilangan Topik Literaturunclassified

“…Adopsi teknologi baru secara umum dapat tercipta apabila ada kesadaran bahwa perusahaan lain sudah menggunakan teknologi baru tersebut (Kapnissis et al, 2022), atau dikenal dengan nama pendekatan "follow-the leader". Selain itu keinginan mengadopsi teknologi baru akan semakin kuat apabila ada kepercayaan bahwa performa akan meningkat setelah adopsi teknologi baru tersebut terjadi (Kapnissis et al, 2022). Akan tetapi, persepsi mengenai blockchain mungkin mempengaruhi kecepatan adopsi teknologi blockchain LC.…”

Section: Gambar 5 Persilangan Topik Literaturunclassified

“…Akan tetapi, persepsi mengenai blockchain mungkin mempengaruhi kecepatan adopsi teknologi blockchain LC. Sangat memungkinkan persepsi datang dari pengetahuan yang kurang memadai mengenai teknologi blockchain (Kapnissis et al, 2022). Patut disadari bahwa sejarah dapat berulang ketika internet pertama kali muncul di tahun 1990 dan diremehkan potensinya.…”

Section: Gambar 5 Persilangan Topik Literaturunclassified

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Blockchain Letter of Credit: Apakah Sekarang Saatnya?

Ruslan¹

2022

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Blockchain Letter of Credit (LC) is cutting-edge technology in international trade. It opens many opportunities to eliminate the deficiencies of current LC aspects. The research aims to answer how blockchain technology disrupts the LC workflow and whether now is the best time to adopt the blockchain LC. This research employed a narrative review approach. The result revealed that out of 226 articles from ScienceDirect, IEEE Xplore, Springer Open, Emerald insight, Research Gate, and Google Scholar, 26 articles were found to be relevant to answer the research questions. Significant findings from the research are that blockchain LC and smart contracts disrupt the LC workflow to become more efficient, secure from fraud and alterations, lower cost, and provide better visibility. Another finding is that adopting the technology is relevant provided that the cost to adopt has become affordable and when many banks and companies have adopted the blockchain LC. The process of adoption should be gradual.

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