Automation and Digitalization of Agreements in the Maritime Sector: A Blockchain Based Approach
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Abstract
In the maritime sector there are many procedures that rely on exchange of documents amongstakeholders and that require manual validation and processing. This is both an ineffectiveand error prone practice that can be improved with the use of blockchain technology. Byutilizing blockchain to digitalize these procedures we can improve the efficiency from manualoperation to automatic processing and resolve many of the security concerns that are presentwhen using paper printed or PDF documents. In this project we propose a blockchain basedsolution for agreement automation and for sharing of documents and information relatedto the maritime sector. As a validation of the concept, a proof-of-concept system thatfacilitates an automatic process of a canal transit has been designed and implemented withthe permissoned blockchain technology Hyperledger fabric. The developed proof-of-conceptvalidates with success that blockchain technologies can be utilized to improve agreementprocedures in the maritime sector and provide both efficiency and security.