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>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 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 1

Eastern Mediterranean Offshore Conference and Exhibition (EMC) 2020

EMC 2020 conference will arm delegates with technical and commercial knowledge to capitalise…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >