Zeaborn, BlocBox to Use Blockchain for Maritime Safety

BlockchainIllustration; Image Courtesy: Pixabay under CC0 Creative Commons license

Zeaborn Ship Management (Singapore) has signed a Memorandum of Understanding (MOU) with BlocBox, the developer of a blockchain protocol for aviation and maritime safety.

The parties would collaborate on a blockchain-based project to ensure the safety of ships at sea.

Under the deal, BlocBox would collect VDR data from a test ship allocated by Zeaborn Ship Management that can be stored and distributed in a blockchain network. The said data will then be converted into BlocBox encryption format.

BlocBox would build an immutable distributed ledger with blockchain technology to solve the challenges of retrieval of black box data, transparency, predictions and ownership in the maritime and aviation industry. A prototype of the interface has been developed by the team and is in its testing phases, the parties explained.

and Capt. Ninad Mhatre, Deputy MD of Zeaborn Ship Management (Singapore).

“Blockchain technology is the future and needs to be maximised to its full potential. In 2017 alone there were 2,712 maritime incidents, causing insured losses of over 16.2 billion USD. Also, despite internationally agreed upon safety and security standardizations, there are still instances considered as disaster level events resulting in loss of lives,” Saurish Nandi, Co-Founder & CTO of BlocBox, said.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

The 5th CWC China LNG & Gas International Summit

Gain Access to Global LNG & Gas Decision Makers in China

Take a peek inside our 2019 Introductory Brochure and stay on top of this rapidly developing market.

See who is already working with us this year as Speakers, Sponsors and Partners – download your Preview Brochure today and meet them in Beijing on 15-16 October 2019.

As the world’s second largest LNG importer, China will remain the biggest contributor to global LNG demand growth in the foreseeable future. Network with global LNG & gas decision makers, buyers, NOCs and Government Officials at the industry’s leading international event in China.

More info

read more >

CEDA Dredging Days 2019

CEDA Dredging Days programme will follow its successful format of contributed peer-reviewed…

read more >

Offshore Wind Europe 2019

#OWEU19 is a meeting place for governments, developers and suppliers to grow the confidence in wind power. Perfect to grow your business by securing new customers, meeting officials and industry heads.

read more >