How TradeLens Delivers Business Value With Blockchain Technology

Jensen, Thomas Wiben; Hedman, Jonas; Henningsson, Stefan

doi:10.17705/2msqe.00018

Cited by 104 publications

(81 citation statements)

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“…As there are plenty of scenarios in which blockchain technology might finally turn out to be an enabler of the further digitization of processes, the increase in energy consumption of a specific blockchain must always be weighed against the savings it provides. For example, by enabling the digitization of supply-chain processes, blockchain can substantially reduce the amount of paperwork and transport, including air-freight (Jensen et al 2019), or allow for more targeted recalls, leveraging many opportunities to reduce carbon emissions. However, we still lack reliable information on the detailed energy consumption of different non-PoW blockchains.…”

Section: Resultsmentioning

confidence: 99%

The Energy Consumption of Blockchain Technology: Beyond Myth

et al. 2020

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When talking about blockchain technology in academia, business, and society, frequently generalizations are still heared about its-supposedly inherent-enormous energy consumption. This perception inevitably raises concerns about the further adoption of blockchain technology, a fact that inhibits rapid uptake of what is widely considered to be a groundbreaking and disruptive innovation. However, blockchain technology is far from homogeneous, meaning that blanket statements about its energy consumption should be reviewed with care. The article is meant to bring clarity to the topic in a holistic fashion, looking beyond claims regarding the energy consumption of Bitcoin, which have, so far, dominated the discussion.

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Section: Resultsmentioning

confidence: 99%

The Energy Consumption of Blockchain Technology: Beyond Myth

et al. 2020

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“…As for logistics and shipping, blockchain will be able to speed up cross-border shipping processes [43], reducing bureaucracy and paperwork at customs through the use of smart contracts and guaranteeing the origin and provenance of the products [44]. Several projects have been launched including Tradelens [45] for maritime logistics and Mediledger [46] for the drug supply chain.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

The Unknown Potential of Blockchain for Sustainable Supply Chains

et al. 2020

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The growing attention to emerging technologies has raised several doubts regarding the sustainability aspects. Among the new technologies, blockchain has laid the foundations for a revolution in the financial field but also in the energy, tourism, medical, industrial and supply chains sectors. Through a systematic literature review, 37 documents were analyzed to describe the sustainable aspects generated using blockchain in supply chains. Therefore, the results achieved provide two levels of analysis. The former highlights the impact of the adoption of blockchain in supply chains based on the three dimensions of sustainability: environmental, economic and social. The latter shows the positive and negative impacts of each form of sustainability. The purpose of the work is to summarize the current state of the art in order to propose a future development agenda based on the need to simulate and define a measurability for each dimension of sustainability. Finally, the study provides a broad overview of practical and managerial implications for entrepreneurs and researchers. On the one hand, the work shows how the use of blockchain improves the profits and reputation of companies. On the other hand, it highlights several research gaps to be investigated and considered by researchers.

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“…As a method of transition, White (2018) said that by setting up the API based technology system, there will be much more transparency and visibility to all the elements of the supply chain. While digitalization helps to reduce paper work and improve documentation that can enable parties across boundaries to share documents freely and quickly using the digital platform (Vogt and Paul, 2011;Jensen et al (2019)).…”

Section: Research Significancementioning

confidence: 99%

“…While selecting the right blockchain kit for adoption, there seems to be a confusion among the minds of shippers, carriers and other stakeholders existing in the shipping eco-system (Jensen et al 2019).…”

Section: Research Problem Statementmentioning

confidence: 99%

“…Interestingly, the annual cost of global trade is around $1.8 trillion which includes saving of around 10% from some well managed global trade processes. According to Jensen et al (2019), overall cost of the total trade in the international shipping industry has witnessed an increase in trend due to many challenges. In the year 2018, 13.5 trillion employees have been recruited in the shipping industry to handle $4 trillion value of goods (Liu et al 2018).…”

Section: Introductionmentioning

confidence: 99%

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Assessing Blockchain Technology application for freight booking business: a case study from Technology Acceptance Model perspective

Tan

Sundarakani

2020

JGOSS

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Purpose The purpose of this study is to develop a framework for a freight consolidation company to adopt blockchain for the shipping community. Our research critically examine the challenges faced by a global shipping company that offer freight consolidation businesses and explore the use of Blockchain technology to enhance the competitiveness and sustainability of freight booking operations. Design/methodology/approach This paper is a case study, ECU Worldwide, with focus on transforming their operations using blockchain technology for the freight booking industry. As the case is explorative in nature, the research aim to unearth the complex blockchain adoption phenomenon in the industry as the technology is very nascent at present. The research is primarily grounded on Technology Acceptance Model (TAM) theory. Findings The research finds that blockchain technology supports solving many issues and inefficiencies of global shipping operations but there are some barriers that they need to overcome. The research provides a framework and recommendations for global company to consider when considering Blockchain technology for implementation. Our research finding shows that smart contracts can be set up at critical points along with the shipment route namely the storage, customs, carrier, transporters and consignee stage to ensure greater security and transparency. Research limitations/implications The research provides recommendations to key stakeholders involved in freight forwarding segment of logistics industry while adopting blockchain technology. Apart from the methodological limitation of the research, the research is limited to Singapore in terms of geographical coverage. Practical implications The drivers and barriers identified in the study can give practitioners insight of using blockchain for the industry. The proposed framework can assist companies in the shipping industry to prepare themselves to adopt blockchain for the community. Originality/value This case study is the first of its kind to examine the use of blockchain to explore the adoption in logistics Industry in Singapore and perhaps worldwide.

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How TradeLens Delivers Business Value With Blockchain Technology

Cited by 104 publications

References 0 publications

The Energy Consumption of Blockchain Technology: Beyond Myth

The Energy Consumption of Blockchain Technology: Beyond Myth

The Unknown Potential of Blockchain for Sustainable Supply Chains

Assessing Blockchain Technology application for freight booking business: a case study from Technology Acceptance Model perspective

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