Analysis of Blockchain\u2019s Impacts On and Applicability to the Maritime Industry May 2019 to August 2020

University Transportation Centers Programhttp://doi.org/10.5281/zenodo.41936762020PDFTech ReportKruse, C JamesVilla, Juan CarlosMileski, Joan P.Galvao, CassiaTexas A&M Transportation InstituteTexas A & M University at GalvestonMaritime Transportation Research and Education Center (MarTREC)United States. Department of Transportation. Office of the Assistant Secretary for Research and TechnologyUnited States. Department of Transportation. University Transportation Centers (UTC) ProgramMaritime Transportation Research and Education Center (MarTREC)MexicoUnited StatesTexasCase studiesData sharingImplementationInformation technologyLessons learnedLiterature reviewsLogisticsMaritime industryPortsShippingSurveysBlockchains69A3551747130Final Research ReportBlockchain is, in simple terms, a growing list of records, called blocks, that are linked using cryptography. It is a distributed ledger system that can record transactions between two parties efficiently and in a verifiable and permanent way. Over the last few years, blockchain has been touted as a technology that will totally revolutionize the way many businesses function. This report will test that assumption for the maritime industry. This report addresses several questions: (1) Does blockchain meet the needs and requirements of logistics operations? (2) Is the information technology (IT) infrastructure in the logistics environment ready for this new technology? (3) What lessons have been learned from prior implementations that might make blockchain more effective for the marine shipping environment? In this report: Chapter 2 provides a summary of an extensive literature review that offers an understanding of what blockchain is, what its limitations and advantages are, and how it is being used. Chapter 3 provides the findings from a survey of the Port of Houston user community. The survey probed their understanding of blockchain technology and their level of implementation of the technology. Chapter 4 provides a case study of the implementation of blockchain in the maritime/port environment. The case study focuses on the project undertaken by the Port of Veracruz, Mexico, to move its export functions to blockchain. Chapter 5 summarizes interviews and investigation into TradeLens, a blockchain system developed by Maersk and IBM to facilitate container logistics across all the various users involved in the supply chain. Chapter 6 summarizes key findings and recommendations for further research.140