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Rise, Fall, and Recovery of Blockchains in the Maritime Technology Space

1
Faculty of Technology, Natural and Maritime Sciences, University of South-Eastern Norway, 3184 Horten, Norway
2
Ocean Dynamex Inc., Ottawa, ON K2L 4G7, Canada
3
Center for Mathematical and Data Sciences, Kobe University, Kobe 657-8501, Japan
*
Author to whom correspondence should be addressed.
Academic Editor: Bruce Hartman
J. Mar. Sci. Eng. 2021, 9(3), 266; https://doi.org/10.3390/jmse9030266
Received: 31 December 2020 / Revised: 17 February 2021 / Accepted: 23 February 2021 / Published: 2 March 2021
(This article belongs to the Special Issue Computational Maritime Economics and Technology)
Blockchain technology, since its introduction, has been expected to be implemented in many areas. Cryptocurrency is one unique example that established a functioning application. On the other hand, blockchain technology is not immune to various challenges related to the nature of itself, privacy management, and antitrust laws, among others. This study lays out the nature of blockchain and applications in the maritime industry, while highlighting the bottlenecks. Potential resolutions and anticipated developments are proposed. To do this, we adopt a systematic approach and present an overview of blockchain in maritime literature. In addition, the fundamental problems with blockchain are investigated, beginning from their essentials to the pain points that are claimed to need improvement. For establishing a legitimate and practically meaningful blockchain platform, stakeholders need to achieve pluralism (consensus validation), privacy, and security of the system. View Full-Text
Keywords: blockchain; maritime; shipping; internet of things; interoperability blockchain; maritime; shipping; internet of things; interoperability
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MDPI and ACS Style

Munim, Z.H.; Duru, O.; Hirata, E. Rise, Fall, and Recovery of Blockchains in the Maritime Technology Space. J. Mar. Sci. Eng. 2021, 9, 266. https://doi.org/10.3390/jmse9030266

AMA Style

Munim ZH, Duru O, Hirata E. Rise, Fall, and Recovery of Blockchains in the Maritime Technology Space. Journal of Marine Science and Engineering. 2021; 9(3):266. https://doi.org/10.3390/jmse9030266

Chicago/Turabian Style

Munim, Ziaul H., Okan Duru, and Enna Hirata. 2021. "Rise, Fall, and Recovery of Blockchains in the Maritime Technology Space" Journal of Marine Science and Engineering 9, no. 3: 266. https://doi.org/10.3390/jmse9030266

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