Journal of Navigation and Port Research (한국항해항만학회지)

Korean Institute of Navigation and Port Research (한국항해항만학회)
권호 표지
DOI QR코드

DOI QR Code

Who are the Beneficiaries and Stakeholders of Blockchain Commercialization in the Shipping Industry?

  • Nga, Pham Thi Hang (Graduate School of Logistics, Incheon National University) ;
  • Park, Young Il (Graduate School of Logistics, Incheon National University) ;
  • Park, Sung Hoon (Graduate School of Logistics, Incheon National University) ;
  • Yeo, Gi Tae (Graduate School of Logistics, Incheon National University)
  • Received : 2020.01.10
  • Accepted : 2020.03.26
  • Published : 2020.04.30
Download PDF
⟨ Previous Next ⟩

Abstract

In the field of logistics, the maritime shipping industry plays a critical role as the backbone of global trade activities. Nevertheless, previous studies on the commercialization and benefits of blockchain technology are limited in the field of marine logistics. Thus, the purpose of this study was to predict the benefit for each group involved in marine logistics when blockchain technology is applied. As such, 21 factors of benefits were selected for seven major logistics groups (financial institutions, freight forwarders, inland transportation, ocean carriers, port operators, port-related government authorities, and shippers) to study the benefit expected for each through the commercialization of blockchain technology. Based on the results, a different benefit level is expected for each group when blockchain technology is used. In order, ocean carriers (0.155), inland transportation (0.150), financial institutions (0.153), port operators (0.145), freight forwarders (0.142), port-related government authorities (0.129), and shippers (0.126) were found to benefit most from the use of blockchain technology. This study has industrial implications in that it presents the benefits expected when blockchain technology is realized and used in marine logistics by groups involved in logistics transactions.

Keywords

References

  1. AlTawy, R., ElSheikh, M., Youssef, A. M. and Gong, G.(2017), August. "Lelantos: A blockchain-based anonymous physical delivery system", In 2017 15th Annual Conference on Privacy, Security and Trust (PST), IEEE, pp. 15-1509.
  2. Atlam, H., Walters, R. and Wills, G.(2018), "Fog computing and the internet of things: A review. Big Data and Cognitive Computing", Vol. 2, No. 2, p. 10. https://doi.org/10.3390/bdcc2020010
  3. Banerjee, A.(2018), "Blockchain technology: supply chain insights from ERP", In Advances in Computers, Vol. 111, pp. 69-98.
  4. Buyukozkan, G. and Cifci, G.(2012), "A novel hybrid MCDM approach based on fuzzy DEMATEL, fuzzy ANP and fuzzy TOPSIS to evaluate green suppliers", Expert Systems with Applications, Vol. 39, No. 3, pp. 3000-3011. https://doi.org/10.1016/j.eswa.2011.08.162
  5. Casado-Vara, R., Gonzalez-Briones, A., Prieto, J. and Corchado, J. M.(2018), Smart contract for monitoring and control of logistics activities: pharmaceutical utilities case study. In The 13th International Conference on Soft Computing Models in Industrial and Environmental Applications pp. 509-517.
  6. Chen, G., Xu, B., Lu, M. and Chen, N. S.(2018), "Exploring blockchain technology and its potential applications for education", Smart Learning Environments, Vol. 5, No. 1, p. 1. https://doi.org/10.1186/s40561-017-0050-x
  7. Cheng, E. C., Le, Y., Zhou, J. and Lu, Y.(2018), "Healthcare services across China-on implementing an extensible universally unique patient identifier system", International Journal of Healthcare Management, Vol. 11, No. 3, pp. 210-216. https://doi.org/10.1080/20479700.2017.1398388
  8. Cheng, J. C., Lee, N. Y., Chi, C. and Chen, Y. H.(2018), "Blockchain and smart contract for digital certificate", In 2018 IEEE international conference on applied system invention pp. 1046-1051.
  9. Chetrit, N., Danor, M., Shavit, A., Yona, B. and Greenbaum, D.(2018), "Not Just for Illicity Trade in Contraband Anymore: Using Blockchain to Solve a Millennial-Long Problem with Bills of Lading. Va. JL & Tech., 22, p.ii.
  10. Chod, J., Trichakis, N., Tsoukalas, G., Aspegren, H. and Weber, M.(2018), "Blockchain and the value of operational transparency for supply chain finance. Mack Institute for Innovation Management, Working Paper Series.
  11. Doan, T. M. A.(2018), "Switching paper to electronic bills of lading: legal perspective and reform options for Vietnam"
  12. Dobrovnik, M., Herold, D., Furst, E. and Kummer, S.(2018), "Blockchain for and in Logistics: What to Adopt and Where to Start", Logistics, Vol. 2, No. 3, p. 18. https://doi.org/10.3390/logistics2030018
  13. Hasan, H. R. and Salah, K.(2018), "Blockchain-based proof of delivery of physical assets with single and multiple transporters, IEEE Access, 6, pp. 46781-46793. https://doi.org/10.1109/ACCESS.2018.2866512
  14. Herrera-Viedma, E., Herrera, F., Chiclana, F. and Luque, M.(2004), "Some issues on consistency of fuzzy preference relations", European journal of operational research, Vol. 154, No. 1, pp. 98-109. https://doi.org/10.1016/S0377-2217(02)00725-7
  15. HMM, 2017. HMM (Hyundai Merchant Marine) HMM Completes its First Blockchain Pilot Voyage https://www.hmm21.com/cms/company/engn/introduce/prcenter/news/1202833_7540.jsp
  16. Huckle, S., Bhattacharya, R., White, M. and Beloff, N.(2016), "Internet of things, blockchain and shared economy applications", Procedia computer science, Vol. 98, pp. 461-466. https://doi.org/10.1016/j.procs.2016.09.074
  17. IBM and Maersk, 2018, http://www.nsweek.com/wpcontent/uploads/2018/10/Luca-Amato_ibm.pdf
  18. Khan, M. A. and Salah, K.(2018), "IoT security: Review, blockchain solutions, and open challenges", Future Generation Computer Systems, Vol. 82, pp. 395-411. https://doi.org/10.1016/j.future.2017.11.022
  19. Kiviat, T. I.(2015), "Beyond bitcoin: Issues in regulating blockchain tranactions. Duke LJ, Vol. 65, pp. 569.
  20. Kshetri, N.(2017), "Blockchain's roles in strengthening cybersecurity and protecting privacy", Telecommunications policy, Vol. 41, No. 10, pp. 1027-1038. https://doi.org/10.1016/j.telpol.2017.09.003
  21. Li, Z., Guo, H., Wang, W. M., Guan, Y., Barenji, A. V., Huang, G. Q., McFall, K. S. and Chen, X.(2019), "A Blockchain and AutoML Approach for Open and Automated Customer Service", IEEE Transactions on Industrial Informatics.
  22. Min, H.(2019), "Blockchain technology for enhancing supply chain resilience", Business Horizons, Vol. 62, No. 1, pp. 35-45. https://doi.org/10.1016/j.bushor.2018.08.012
  23. Minoli, D. and Occhiogrosso, B.(2018), "Blockchain mechanisms for IoT security", Internet of Things, Vol. 1, pp. 1-13. https://doi.org/10.1016/j.iot.2018.05.002
  24. Nakasumi, M.(2017), Information sharing for supply chain management based on block chain technology. In 2017 IEEE 19th Conference on Business Informatics Vol. 1, pp. 140-149
  25. Nguyen, Q. K.(2016), Blockchain-a financial technology for future sustainable development. In 2016 3rd International Conference on Green Technology and Sustainable Development, IEEE, pp. 51-54.
  26. Papadopoulos, G.(2015), "Blockchain and Digital Payments: An Institutionalist Analysis of Cryptocurrencies. In Handbook of Digital Currency pp. 153-172. Academic Press.
  27. Peters, G., Panayi, E. and Chapelle, A.(2015), "Trends in cryptocurrencies and blockchain technologies: a monetary theory and regulation perspective", Journal of Financial Perspectives, Vol. 3, No. 3.
  28. Reyna, A., Martin, C., Chen, J., Soler, E. and Diaz, M.(2018), "On blockchain and its integration with IoT. Challenges and opportunities", Future Generation Computer Systems, Vol. 88, pp. 173-190. https://doi.org/10.1016/j.future.2018.05.046
  29. Sadouskaya, K.(2017), "Adoption of Blockchain Technologyin Supply Chain and Logistics"
  30. Santy, T. L.(1980), "The analytical hierarchy process: Planning, priority setting, resource allocation"
  31. Schwab, K.(2017), "The fourth industrial revolution. Currency"
  32. Takahashi, K.(2016), "Blockchain technology and electronic bills of lading", The Journal of International Maritime Law Published by Lawtext Publishing Limited, Vol. 22, pp. 202-211.
  33. Tian, F.(2016), An agri-food supply chain traceability system for China based on RFID & blockchain technology", In 2016 13th international conference on service systems and service management pp. 1-6.
  34. Turk, Z. and Klinc, R.(2017), "Potentials of blockchain technology for construction managemen", Procedia engineering, Vol. 196, pp. 638-645. https://doi.org/10.1016/j.proeng.2017.08.052
  35. Wang, W. M., Guo, H., Li, Z., Shen, Y. and Barenji, A. V.(2018), "Towards Open and Automated Customer Service: A Blockchain-based AutoML Framework", In Proceedings of the 2nd International Conference on Computer Science and Application Engineering.
  36. Watanabe, H., Fujimura, S., Nakadaira, A., Miyazaki, Y., Akutsu, A. and Kishigami, J. J.(2015), "Blockchain contract: A complete consensus using blockchain", In 2015 IEEE 4th global conference on consumer electronics, pp. 577-578.
  37. Yiannas, F.(2018), "A new era of food transparency powered by blockchain. Innovations: Technology", Governance, Globalization, Vol. 12, No. 1-2, pp. 46-56. https://doi.org/10.1162/inov_a_00266
  38. Zheng, Z., Xie, S., Dai, H., Chen, X. and Wang, H., 2017, June. An overview of blockchain technology: Architecture, consensus, and future trends", In 2017 IEEE International Congress on Big Data (BigData Congress), IEEE, pp. 557-564.