Abstract No.F180131-162
Author name(s): Gary R. Pogson1, Deanna MacDonald2
Company: 1. LloydĄ¯s Register, Marine and Offshore Innovation and LloydĄ¯s Register Foundation UK; 2. BLOC (Blockchain Labs for Open Collaboration) ,UK
Distributed ledger and blockchain technologies, a subset of distributed computing systems, pervade news articles and social media. They are special types of database, spread over multiple locations that use cryptographic techniques to provide an auditable and permanent record of activities between parties within a network. Whilst digitalization is having a profound effect on the maritime sector as we seek to improve performance, safety, and reliability, it can also lead to new types of vulnerability, with risks needing to be managed in both the physical and digital domains. Distributed computing technologies such as distributed ledgers and blockchain present an opportunity for innovation in helping to address challenges of the maritime industry.
KEY WORDS: maritime; distributed ledger; blockchain; decentralized; safety; reliability; supply chain; sustainability
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