The Application of Blockchain Technology in the Maritime Industry

Czachorowski, Karen V.; Solesvik, Marina; Kondratenko, Yuriy

doi:10.1007/978-3-030-00253-4_24

Cited by 53 publications

(26 citation statements)

References 27 publications

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“…In addition, blockchain can be attacked by different threats which are connecting with the Proof-of-Work and Power-over-Ethernet protocols. The concern of data safety and privacy also have also raised much concerns [12] , especially after several frequent cybersecurity issue that happened in the maritime industry recently.…”

Section: Literature Reviewmentioning

confidence: 99%

“…In addition, the maritime industry’s willingness to bear the risk of adopting undeveloped new technology is low and the old -fashioned culture makes the decision makers inclined to be conservative [38] . The maritime industry is regarded as a late adopter of new technology, lacking digital innovation in the process of operation [12] . Besides, from the policy perspective, the threat of overregulation prevents many companies from investing in the blockchain technology.…”

Section: Literature Reviewmentioning

confidence: 99%

“…terminal operators, shipping companies, freight forwarders and shippers), information can be accessed much more easily and timely via blockchain instead of taking extra time exploring the respective home page of multiple institutions [11] . Third, blockchain can accelerate the process of green innovation in the maritime industry [12] . With the help of blockchain and other sensors, the regulators (e.g.…”

Section: Introductionmentioning

confidence: 99%

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The key challenges and critical success factors of blockchain implementation: Policy implications for Singapore’s maritime industry

et al. 2020

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Blockchain has the potential to improve the efficiency and transparency of maritime businesses and operations. Nevertheless, few studies have been conducted to identify the key challenges and critical success factors (CSFs) of blockchain implementation in the maritime industry. A case study approach based on Singapore’s maritime industry is adopted. Four interviews are conducted to establish the face validity of the survey questionnaire before data are collected from 30 maritime professionals from Singapore’s maritime industry. In addition to analytic hierarchical process (AHP), a fishbone diagram and PESTEL analysis are also adopted to organize and discuss the results. The results show that there are six key challenges and six CSFs for blockchain implementation. Using a fishbone diagram, the six identified challenges along with 13 personal concerns are categorized into five dimensions related to people, methods, organization, external environment, and technology. The CSFs are sufficient capital, staff training, ease of local legislation, support from the shipping community, support from the senior management, and professional consultation and assistance. This study implicates marine policy formulation in relation to subsidies and investments, blockchain talent and knowledge acquisition, and workforce training and education to accelerate blockchain implementation in the maritime industry.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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The key challenges and critical success factors of blockchain implementation: Policy implications for Singapore’s maritime industry

et al. 2020

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“…Due to this, among other things paperless processes develop. In this context, there are interesting projects on the use of Blockchain for the digitalization of logistics, Smart Port, Smart City [14]. Blockchain, when properly applied, provides security, transparency and decentralization of processes.…”

Section: Existing Digital Technologies For Smart Portmentioning

confidence: 99%

Digital Technology Implementation for Smart City and Smart Port Cooperation

Ilin¹,

Jahn²,

Weigell³

et al. 2019

Proceedings of the International Conference on Digital Technologies in Logistics and Infrastructure (ICDTLI 2019)

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A promising direction for the development of society, especially in the conditions of the industry 4.0 paradigm, a of is the Smart City. The purpose of the Smart City is to optimize resources, monitor security, and maximize the level of services for the population. For the successful development of the concept of the Smart City, the integration of various systems and technologies is required. One part of the Smart City concept in particular to consider is the Smart Port. This article examines the existing digital solutions for the automation of Smart Ports, the direction of technology development, the existing problems and prospects for the digitalization of port terminals and transport logistics operators.

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“…Yang (2019) investigate maritime organisations' intention to use blockchain. Besides, a few papers point out some potential use cases of blockchain in the industry, mainly about tracking and tracing information and digitising documents (Gausdal, Czachorowski, and Solesvik 2018;Jabbar and Bjørn 2018;Wang and Qu 2019;Maydanova, Ilin, and Lepekhin 2019;Czachorowski, Solesvik, and Kondratenko 2019).…”

Section: Introductionmentioning

confidence: 99%

Blockchain adoptions in the maritime industry: a conceptual framework

Lam

2020

Maritime Policy & Management

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Blockchain technology has become one of the emerging technologies set to disrupt the maritime industry. Maritime companies are increasingly exploring to adopt blockchain to stay ahead of competition. However, studies on blockchain applications in the maritime sector have been scarce and most of them are confined to a specific sector like the maritime shipping sector. Therefore, this study is motivated to provide a thorough analysis of blockchain applications from the perspectives of different sectors in the industry. It also aims to develop a novel conceptual framework to provide a holistic view of blockchain adoption in the industry and guide future research. The implication analysis of blockchain adoption indicates that for industry organisations, a good understanding of blockchain and their own specific problems and requirements is key before adopting the technology. For government agencies, technical code for blockchain can be utilised to govern blockchain innovation with the same effects as legal code. Lastly, recommendations are provided to various maritime stakeholders to seize the emerging opportunities provided by blockchain and mitigate relevant risks.

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The Application of Blockchain Technology in the Maritime Industry

Cited by 53 publications

References 27 publications

The key challenges and critical success factors of blockchain implementation: Policy implications for Singapore’s maritime industry

The key challenges and critical success factors of blockchain implementation: Policy implications for Singapore’s maritime industry

Digital Technology Implementation for Smart City and Smart Port Cooperation

Blockchain adoptions in the maritime industry: a conceptual framework

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