A survey of blockchain with applications in maritime and shipping industry

Abstract

Arrival of blockchain is set to transform supply chain activities. Scholars have barely begun to systematically assess the effects of blockchain on various organizational activities. This paper first summarizes the research articles published between year 2015 and year 2018 into four areas: hardware, software, emerging technology, and business applications. The paper then discusses the key enabling technologies applied in blockchain and three types of blockchain structures. Finally, seven case studies of blockchain projects in the maritime and shipping industry are discussed. This paper examines how blockchain is likely to affect key supply chain management objectives such as cost, quality, speed, and risk management. The paper illustrates various mechanisms by which blockchain can help achieve the above supply chain objectives. The paper presents early evidence linking the use of blockchain in supply chain activities to increasing transparency and accountability. Special emphasis has been placed on the degree of deployment of blockchain to validate individuals’ and assets’ identities.