Volume 6, Issue 2 (7-2024)                   sjamao 2024, 6(2): 8-17 | Back to browse issues page

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Alshami H, Bin Abdul Hamid M S R. An Insight into the Impact of Blockchain Characteristics and Applications on the Ship Management Companies. sjamao 2024; 6 (2) :8-17
URL: http://sjamao.srpub.org/article-7-210-en.html
An Insight into the Impact of Blockchain Characteristics and Applications on the Ship Management Companies
Hussien Alshami , Mohd Syaiful Rizal Bin Abdul Hamid *
Faculty of Technology Managment and Technopreneurship UniversitiTeknikal Malaysia Melaka (UTeM), Malaysia
Abstract:   (565 Views)
Blockchain techngology has recently started to be adoptedin the shipping industryand is still in the early stage of adoption for most shipping sectors. To boost the technology adoption, shipping companies need to be aware of the impact blockchain characteristics and applications can make on their business process and understand how they can enhance operational efficiency. Eventhough few studies have investigated the blockchain applications in the shipping industry, most of them cover the topic from a general perspective for the industry as a whole. Yet, these applications should be studied from each stakeholder's perspectivein the industry.This paper aims to investigate the impact of blockchain applications on the ship management companies in particular. A systematic literature review has been used as a method to identify and analyze the work related to the blockchain applications in the shipping industry and findings are classified into three categories; blockchain characteristics, blockchainapplications, and impact on ship management companies. The result revealed that most of the studies in this field address the blockchaintechnology in the shipping industry from a general perspective covering all stakeholders involved. In contrast, this study addresses the topic from the perspective of the ship management companies in particular. The finding of this paper indicates that ship management companies are the most beneficiary of the blockchain technology among the supply chain stakeholders. The impact of the technology can enhancetransparency, lower transaction costs, eliminateintermediaries, and reduce fraud. For ship management companies, blockchain applications include documents and updates exchange, eBill of Lading, smart contracts, ship history records, shipment and cargo tracking, and digitalizing and automating shipping documents and transactions.
Keywords: Blockchain, Applications, Characteristics, shipping, ship management companies
Full-Text [PDF 661 kb]   (204 Downloads)    
Type of Study: Research | Subject: Strategy and Management
Received: 2024/04/13 | Revised: 2024/06/28 | Accepted: 2024/06/30 | Published: 2024/07/2
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