Who are the Beneficiaries and Stakeholders of Blockchain Commercialization in the Shipping Industry?
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In the field of logistics, the maritime shipping industry plays a critical role as the backbone of global trade activities. Nevertheless, previous studies on the commercialization and benefits of blockchain technology are limited in the field of marine logistics. Thus, the purpose of this study was to predict the benefit for each group involved in marine logistics when blockchain technology is applied. As such, 21 factors of benefits were selected for seven major logistics groups (financial institutions, freight forwarders, inland transportation, ocean carriers, port operators, port–related government authorities, and shippers) to study the benefit expected for each through the commercialization of blockchain technology. Based on the results, a different benefit level is expected for each group when blockchain technology is used. In order, ocean carriers (0.155), inland transportation (0.150), financial institutions (0.153), port operators (0.145), freight forwarders (0.142), port-related government authorities (0.129), and shippers (0.126) were found to benefit most from the use of blockchain technology. This study has industrial implications in that it presents the benefits expected when blockchain technology is realized and used in marine logistics by groups involved in logistics transactions.
Abstract
In the field of logistics, the maritime shipping industry plays a critical role as the backbone of global trade activities. Nevertheless, previous studies on the commercialization and benefits of blockchain technology are limited in the field of marine logistics. Thus, the purpose of this study was to predict the benefit for each group involved in marine logistics when blockchain technology is applied. As such, 21 factors of benefits were selected for seven major logistics groups (financial institutions, freight forwarders, inland transportation, ocean carriers, port operators, port–related government authorities, and shippers) to study the benefit expected for each through the commercialization of blockchain technology. Based on the results, a different benefit level is expected for each group when blockchain technology is used. In order, ocean carriers (0.155), inland transportation (0.150), financial institutions (0.153), port operators (0.145), freight forwarders (0.142), port-related government authorities (0.129), and shippers (0.126) were found to benefit most from the use of blockchain technology. This study has industrial implications in that it presents the benefits expected when blockchain technology is realized and used in marine logistics by groups involved in logistics transactions.
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