Abstract
With the advent of blockchain-facilitated transactions, it is anticipated that major structural changes will occur in the maritime field. The impact of these changes is global; however, major transaction issues and standards still must be agreed upon and enacted. This chapter investigates the use of blockchain technology, its limitations, and the potential impact of blockchain on the maritime industry. We suggest that sustainability issues in the form of transaction attributes will need to be defined and accepted worldwide before blockchain can be fully realized as a significant step in development of the future shipping industry.
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