scholarly journals Distributed Ledger Technology as a Tool for Environmental Sustainability in the Shipping Industry

2020 ◽  
Vol 8 (5) ◽  
pp. 366
Author(s):  
Srdjan Vujičić ◽  
Nermin Hasanspahić ◽  
Maro Car ◽  
Leo Čampara
Keyword(s):  
Supply Chain ◽  
Real Time ◽  
Environmental Sustainability ◽  
Digital Systems ◽  
Maritime Transport ◽  
Smart Contracts ◽  
New Wave ◽  
Shipping Industry ◽  
Distributed Ledger ◽  
Distributed Ledger Technology

In recent years, many industries have adopted technology and digital systems to automate, expedite and secure specific processes. Stakeholders in maritime transport continue to exchange physical documents in order to conduct business. The monitoring of supply chain goods, communication among employees, environmental sustainability and longevity control, along with time framing, all create challenges to many industries. Everyday onboard work, such as cargo operations, navigation and various types of inspections in shipping, still requires paper documents and logs that need to be signed (and stamped). The conversion of traditional paper contracts into smart contracts, which can be digitalized and read through automation, provides a new wave of collaboration between eco systems across the shipping industry. Various data collected and stored on board ships could be used for scientific purposes. Distributed ledger technology (DLT) could be used to collect all those data and improve shipping operations by process expediting. It could eliminate the need to fill in various documents and logs and make operations safer and more environmentally friendly. Information about various important procedures onboard ships could be shared among all interested stakeholders. This paper considers the possible application of distributed ledger technology as an aid for the control of overboard discharge of wastewater from commercial ships. The intended outcome is that it could help protect the environment by sending data to relevant stakeholders in real time, thus providing information regarding the best discharge areas. The use of a structured communal data transference would ensure a consistent and accurate way to transmit data to all interested parties, and would eliminate the need to fill in various paper forms and logs. Wastewater overboard discharges would be properly monitored, recorded and measured, as distributed ledger technology would prevent any possibility of illegal actions and falsification of documents, thus ensuring environmental sustainability.

scholarly journals Distributed Interoperable Records: The Key to Better Supply Chain Management

Computers ◽  
2021 ◽  
Vol 10 (7) ◽  
pp. 89
Author(s):  
Annegret Henninger ◽  
Atefeh Mashatan
Keyword(s):  
Supply Chain ◽  
Supply Chain Management ◽  
Gap Analysis ◽  
Global Supply Chain ◽  
Full Potential ◽  
Chain Management ◽  
Current State ◽  
Future State ◽  
Distributed Ledger ◽  
Distributed Ledger Technology

The global supply chain is a network of interconnected processes that create, use, and exchange records, but which were not designed to interact with one another. As such, the key to unlocking the full potential of supply chain management (SCM) technologies is achieving interoperability across participating records systems and networks. We review existing research and solutions using distributed ledger technology (DLT) and provide a survey of its current state of practice. We additionally propose a holistic solution: a DLT-based interoperable future state that could enable the interoperable, efficient, reliable, and secure exchange of records with integrity. Finally, we provide a gap analysis between our proposed future state and the current state, which also serves as a gap analysis for many fractional DLT-based SCM solutions and research.

scholarly journals Regulating Blockchain, DLT and Smart Contracts: a technology regulator’s perspective

ERA Forum ◽  
2020 ◽  
Vol 21 (2) ◽  
pp. 209-220
Author(s):  
Joshua Ellul ◽  
Jonathan Galea ◽  
Max Ganado ◽  
Stephen Mccarthy ◽  
Gordon J. Pace
Keyword(s):  
Regulatory Framework ◽  
Smart Contracts ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Regulatory Frameworks

Abstract Blockchain, Smart Contracts and other forms of Distributed Ledger Technology provide means to ensure that processes are verifiable, transparent, and tamper-proof. Yet the very same enabling features that bring decentralisation also pose challenges to providing protection for the various users and stakeholders. Most jurisdictions which have implemented regulatory frameworks in this area have focused on regulating the financial aspects of cryptocurrency-based operations. However, they have not addressed technology assurance requirements. In this paper we present a world-first technology regulatory framework.

scholarly journals A Game Model for Incentive Mechanism of Distributed Nodes in Supply Chains

2021 ◽  
Vol 2021 ◽  
pp. 1-10
Author(s):  
Jingjing Jiang ◽  
Aobo Lyu
Keyword(s):  
Supply Chain ◽  
Incentive Mechanism ◽  
Operation Mode ◽  
Game Model ◽  
The Public ◽  
Digital Currency ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
The Incentive Mechanism ◽  
Reward Mechanism

This study aims to solve the credit problems in the supply chain commodity and currency circulation links from the perspective of the ledger, while the game model method has been adopted. The research firstly reviews the relationship between distributed ledger technology and the essential functions of currency. Then, by constructing two-agent single-period and multi-period game models in the entire supply chain, the researchers analysed the incentive mechanism and equilibrium solution of distributed nodes of Central Bank Digital Currency (CBDC). The results of this study include the incentive mechanism and optimization of distributed nodes based on licensed distributed ledger technology, which is an important issue that CBDC faces when performing currency functions. The implications of this study mainly cover the limitations of the underlying technology of the public chain and its reward mechanism in the supply chain management and provide support for the rationality of the CBDC issuance mechanism based on state-owned commercial banks, which provides a reference for the CBDC practice. The main value of the research not only serves the decision-making department of the CBDC issuance but also provides ideas on the operation mode of digital currency for the field of digital currency research.

scholarly journals ‘‘Blocks of Lading"

2019 ◽  
Vol 18 (2) ◽  
pp. 306
Author(s):  
Jake Michael Herd
Keyword(s):  
New Technology ◽  
Shipping Industry ◽  
Commercial Practice ◽  
Bill Of Lading ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Maritime Shipping ◽  
Industry Practice ◽  
Model Law ◽  
The Right

The bill of lading has, for centuries, been an integral component in the maritime shipping industry. However, the stagnation in the development of this legal instrument is contrasted with the exponential rate of development in other areas of commercial practice, which highlights the financial costs and delays associated with the use of bills of lading. The purpose of this paper is to present a modern alternative to the current paper-based bill of lading system that accounts for the practical and legal requirements of the incumbent instrument and also overcomes the deficiencies inherent in paper-based bills of lading. In the context of the regulatory uncertainty of bills of lading based on distributed ledger technology, this paper discusses approaches to regulating this new technology so as to achieve the same legal effects that the traditional, paper-based bill of lading provides. This paper presents two methods for regulating distributed ledger technology when applied to maritime shipping: the first is based on the principle of functional equivalence, which can be employed in domestic legislation, and the second is based on the Model Law on Electronic Transferable Records. I conclude that, while both approaches represent steps in the right direction, the latter would imbue this technology with sufficient legal certainty so as to spark a marine cargo carriage revolution and facilitate a productive disruption of the current industry practice. 

scholarly journals Overview on the Blockchain-Based Supply Chain Systematics and Their Scalability Tools

2021 ◽  
Vol 4 ◽  
pp. 45-69
Author(s):  
Houssein Hellani ◽  
Layth Sliman ◽  
Abed Ellatif Samhat ◽  
Ernesto Exposito
Keyword(s):  
Supply Chain ◽  
Supply Chains ◽  
Data Storage ◽  
Cost Optimization ◽  
Supply Chain System ◽  
Time To Market ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Transaction Fees ◽  
Tools And Techniques

Modern IT technologies shaped the shift in economic models with many advantages on cost, optimization, and time to market. This economic shift has increased the need for transparency and traceability in supply chain platforms to achieve trust among partners. Distributed ledger technology (DLT) is proposed to enable supply chains systems with trust requirements. In this paper, we investigate the existing DLT-based supply chain projects to show their technical part and limitations and extract the tools and techniques used to avoid the DLT scalability issue. We then set the requirements for a typical DLT-based supply chain in this context. The analyses are based on the scalability metrics such as computing, data storage, and transaction fees that fit the typical supply chain system. This paper highlights the effects of Blockchain techniques on scalability and their incorporation in supply chains systems. It also presents other existing solutions that can be applied to the supply chain. The investigation shows the necessity of having such tools in supply chains and developing them to achieve an efficient and scalable system. The paper calls for further scalability enhancements throughout introducing new tools and/or reutilize the current ones. Doi: 10.28991/esj-2021-SP1-04 Full Text: PDF

scholarly journals Application of “blockchain” and “smart contract” tehnology in international payments – the case of reimbursement banks

Pomorstvo ◽  
2020 ◽  
Vol 34 (1) ◽  
pp. 166-177
Author(s):  
Mario Pečarić ◽  
Ivan Peronja ◽  
Mislav Mostarac
Keyword(s):  
Digital Technology ◽  
Trade Credit ◽  
International Exchange ◽  
Maritime Transport ◽  
Distributed Ledger ◽  
Smart Contract ◽  
Distributed Ledger Technology ◽  
International Payment ◽  
Potential Impact ◽  
Modern Technologies

The aim of this paper is to find alternative method of executing reimbursement loan, as a form of documentary loan, that is, to investigate new digital technology methods (fintech) to improve the efficiency of the international exchange. Reimbursement loans are often used to credit the trade of overseas goods. The reason of such case is that the shipment of goods by the maritime transport requires a significant amount of time and those trades are often associated with high financial amounts. Since international trade (exchange) is a kind of a generator of society’s progress, it is necessary to explore the possibilities for making international payment cheaper, more efficient and more secure. In this case, we based our research on the implementation of modern technologies, more precisely “blockchain”/DLT (Distributed Ledger Technology) and “smart contracts”. The new reimbursement loan model presented in the paper is based on the aforementioned technologies. It could potentially change not only the documentary lending techniques, but also, eventually, overall financial paradigm. The effectiveness of the application of modern technologies is proven comparing the results of the so called conventional and unconventional reimbursement credit model on a real case involving two companies in Indonesia and Singapore. The paper also tackles on the further implementation of “smart contract” technology and “blockchain”/DLT, thus considering the potential impact of these technologies on overseas trade, credit markets and financial institutions. Finally, the paper argues on the limitations in implementing this new technique (e.g. legal, political and technical challenges).

scholarly journals The distributed ledger technology as a measure to minimize risks of poor-quality pharmaceuticals circulation

2020 ◽  
Vol 6 ◽  
pp. e292
Author(s):  
Aleksandr Erokhin ◽  
Konstantin Koshechkin ◽  
Ilya Ryabkov
Keyword(s):  
Supply Chain ◽  
Pharmaceutical Industry ◽  
Current Model ◽  
Poor Quality ◽  
Modern World ◽  
Scientific Publications ◽  
Medical Products ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Google Search

Background In the modern world, millions of people suffer from fake and poor-quality medical products entering the market. Violation of the rules of transportation of drugs makes them ineffective and even dangerous. The relationship between the various parts of the supply chain, production and regulation of drugs is too hard and has many problems. Distributed ledger technology is a distributed database, the properties of which allow us to track the entire path of medical products from the manufacturer to consumer, to improve the current model of the supply chain, to transform the pharmaceutical industry and prevent falsified drugs reach the market. Objective The aim of the article is to analyze the distributed ledger technology as an innovative means of poor-quality pharmaceuticals prevention to reach the market as well as their forehanded detection. Methods Content analysis of web sites of companies developing distributed ledger technology solutions had been performed. Five examples found with a google search engine by keywords “distributed ledger technology”, “blockchain”, “pharmaceuticals” and “supply chain” were examined. Analysis of relative scientific publications had been made. With the help of generalization and systematization methods, services provided by these companies were analyzed. The visual model of the supply chain was created with Microsoft Visio software. Results The analysis results contain a principle scheme of distributed ledger technology implementation to achieve the objectives. The analysis of present-day pharmaceuticals supply chain structure and the distributed ledger technology capacities to improve pharmaceutical companies has been carried out and presented. Furthermore, the article allows getting acquainted with today’s projects released to the market as well as the prognosis of the distributed ledger technology in pharmaceutical industry enhancement in the future.

Use of blockchain in designing smart city

2020 ◽  
Vol 9 (4) ◽  
pp. 695-709 ◽  
Author(s):  
Surbhi Dewan ◽  
Latika Singh
Keyword(s):  
Smart Cities ◽  
Smart Contracts ◽  
Proof Of Concept ◽  
Revolutionary Change ◽  
Content Type ◽  
Decentralized System ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Wide Range

PurposeA blockchain is a shared distributed ledger technology that stores the information of every transaction in the network. The blockchain has emerged with a huge diversity of applications not only in the economic but in the non-economical domain as well. Blockchain technology promises to provide a wide range of solutions to the problems faced during implementation of smart cities. It has the potential to build smart contracts more secure, thus eliminating the need for centralized authority.Design/methodology/approachThis paper presents a proof-of-concept for a use case that uses an Ethereum platform to build a blockchain network to buy, sell or rent a property.FindingsThe findings of this study provide an opportunity to create novel decentralized scalable solutions to develop smart cities by enabling paperless transactions. There are enormous opportunities in this distributed ledger technology which will bring a revolutionary change in upcoming years.Originality/valueThe concept of blockchain along with smart contracts can be used as a promising technology for sharing services which is a common requirement in smart cities. All the blockchain transactions are stored in decentralized shared database. The transaction recorded in decentralized system is immutable, it cannot be altered and hence chance of forgery is negligible.

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