{"title":"Improving Shipping Efficiency Industry-Led Consortium Blockchain Smart Contact","authors":"Harshvardhan, Sayyen Teoh","doi":"10.4018/jgim.313035","DOIUrl":null,"url":null,"abstract":"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.","PeriodicalId":46306,"journal":{"name":"Journal of Global Information Management","volume":null,"pages":null},"PeriodicalIF":4.5000,"publicationDate":"2022-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"7","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Global Information Management","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.4018/jgim.313035","RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"INFORMATION SCIENCE & LIBRARY SCIENCE","Score":null,"Total":0}
引用次数: 7
Abstract
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.
期刊介绍：
Authors are encouraged to submit manuscripts that are consistent to the following submission themes: (a) Cross-National Studies. These need not be cross-culture per se. These studies lead to understanding of IT as it leaves one nation and is built/bought/used in another. Generally, these studies bring to light transferability issues and they challenge if practices in one nation transfer. (b) Cross-Cultural Studies. These need not be cross-nation. Cultures could be across regions that share a similar culture. They can also be within nations. These studies lead to understanding of IT as it leaves one culture and is built/bought/used in another. Generally, these studies bring to light transferability issues and they challenge if practices in one culture transfer.
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