Innovative Maritime Operations Management Using Blockchain Technology & Standardization

Abstract

Modern economy faces one of its’ greatest challenges of all times and disruptive innovations are available to corporations as solutions to major business drawbacks (e.g., traceability, communication, data exchange, information modelling etc.). The Maritime Industry combines multiple supply chain stakeholders and operations, globally, generating critical data and exchanging important documents. Mostly, these are paper-based and proprietary. For this industry, digitally exchanged data, must be unambiguous, semantically aligned between trading partners and shared with resilience in real-time using a common operational language. This could be achieved through the prominent from Bitcoin Cryptocurrency Blockchain Technology as a digital verification mechanism complying with global identification, technical and data exchange standards. Acknowledging the difficulties faced in the Maritime Business Operations’ Management, this paper examines the strategic impact of Standards and Blockchain Technology in the industry’s processes.

Leveraging Blockchain for Maritime Port Supply Chain Management through Multicriteria Decision Making

“…In port management, blockchain technology offers significant enhancements in cargo tracking and administrative efficiency but faces implementation hurdles such as stakeholder reluctance, technological complexity, and the need for cross-sector collaboration [21][22][23]. While blockchain standardizes maritime documentation and ensures real-time data access, challenges remain in data traceability and establishing governance models [24,25].…”

“…Addressing the lack of blockchain expertise and developing security protocols and risk assessments is crucial for enhancing scalability and performance in the maritime supply chain [24,31]. Promoting blockchain awareness, education, and standardization is key to overcoming resistance to change and ensuring economic viability [17,32,33].…”

“…Efficient information management through blockchain in port operations requires stakeholder participation and commitment to continual improvement [21,22]. Exploring blockchain's potential in port logistics involves deploying permissioned architectures and conducting SWOT analysis for operational clarity and compliance with global standards [24,25,34].…”