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The UK-based non-profit organization, named the Lloyd’s Register Foundation, unveiled a new project which will embrace the blockchain technology in order to change how the world’s waters are protected while shipment operations are carried out by sea.

The Foundation has announced yesterday, March 22, 2018, about the Maritime Blockchain Labs (MBL), which was launched with the help of Blockchain Labs for Open Collaboration (BLOC) based in Denmark. Thus, the new laboratory aims to seek and implement new solutions in order to streamline the logistics operations and to improve the security as well as the safety level of infrastructure and employees in the maritime industry.

Our objectives are twofold: to get real-world applications on the ground as soon as possible, and to share knowledge and methodologies among users. Blockchain is fundamentally a collaborative technology and will only truly transform the industry if we are all working from the same, or interlinked, systems, rather than competing.”, stated the CEO of BLOC, Deanna MacDonald.

The maritime security has become a widely discussed topic. The Maritime Blockchain Labs also aims to promote the collaboration between different companies in the logistics industry, including the business community. According to the announcement, this cooperation and the exchange of impressions could lead to eliminating or/and reducing the existing risks.

By fostering a collaborative approach we can de-risk the space. Demonstrate capacity and build the technical as well as educational foundations necessary for collectively developing and applying this emerging technology.”, added MacDonald.

Three demo projects will be developed over the next 18 months

Three projects are to be developed in the next 18 months by the Maritime Blockchain Labs. These will be provisional and will first pass through test steps. The purposes of the projects will be focused on the elements that cause risks and solutions to provide a high level of safety.

The three demonstrators will build, apply and model the use of distributed systems to create impacts that enhance safety of life and property at sea and serve as case examples to be shared with the community“, stated MacDonald.

In line with the Allianz Safety and Shipping Review 2017, the safety of maritime vessels is of key importance to the world economy, with transfers of about 90% of global trade. Only in 2016, there were 2.611 marine accidents, caused in most cases of technical problems.

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