Improving Shipping Efficiency Industry-Led Consortium Blockchain Smart Contact

Autor:	null Harshvardhan, Say Yen Teoh
Rok vydání:	2022
Předmět:	Information Systems and Management Strategy and Management Management Science and Operations Research Business and International Management Computer Science Applications
Zdroj:	Journal of Global Information Management. 30:1-32
ISSN:	1533-7995 1062-7375
DOI:	10.4018/jgim.313035
Popis:	COVID-19 has recently affected global trade flows, and the primary reason is that shipping failed to adapt rapidly to meet the need for on-time delivery. Given blockchain's “revolutionary” potential, this paper aims to understand how blockchain can address longstanding inefficiencies and challenges in the shipping industry. This analysis proposes a model of how an industrywide blockchain-based consortium powered by smart contracts could resolve end-to-end contract issues with trustworthiness, thus improving efficiency in terms of time and cost. A mixed-method approach was conducted. That included 27 surveys and 20 interviews with representatives of shipping industry members. This study contributes to the blockchain and shipping supply chain literature by offering empirical data about the application of an industry-led consortium blockchain with cost, scalability, and volatility perspectives. As for the managerial implications, incentives and education are required to stimulate collaboration and commitment to blockchain for more efficient and effective global shipping trade flows.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::94aff5b91e9feefa28e7fb85533f3fdf https://doi.org/10.4018/jgim.313035 Zobrazit plný text záznamu