The whirling hype of blockchain and the race to benefit from its
instant click efficiency and spiralling profitability continues to
generate truckloads of excitement. It is rocking captains of
industry and the maritime sector is on the frontline of all the
buzz.
But what really lies behind the seductive spin?
As a decentralised ledger database recording the history of
transactions via encryption, blockchain does away with a deluge of
paperwork and the reliance on go-betweens. This are its two most
appealing attributes providing music to the ears of shippers who
for centuries on end have had to contend with the myriad
intricacies and inherent fragmented nature of transporting goods
across rivers, seas and oceans. Blockchain speeds up and secures
documentation (particularly the costly yet invaluable Bill of
Lading) contracts and payments (especially in relation to VGM
messages) and the ability for all stakeholders to communicate with
each other in real time and track
