Blockchain conceptual framework in shipping and port management

Abstract

The purpose of the paper is to present a conceptual framework of blockchain (BC) deployment in shipping and port management, which encompasses distributed relational database (DB) and crypto-currency payment mechanism as main constructs. The core of the model is TradeLens platform. The document workflow management, financial processes and device connectivity are key scenarios in the proposed framework. The stakeholders play the role of traditional intermediaries in goods, accompanied data, and documents flows, including overall supervision of the processes between end-nodes, that is shippers (consignees) and customers (consumers). The paper identifies some strengthens and frailty of blockchain-based maritime supply chain system and proposes further investigation in this domain, towards better understanding prospective development of blockchain across maritime cluster.