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Blockchain in the maritime industry
Source publication
Seaborne trade plays a vital role in global trade by facilitating the movement of cargo across the globe. However, maritime transactions are characterized by inherent complexity and frequently exhibit deficiencies in transparency and operational efficiency. This is due to primary factors such as substantial amount of paperwork, ineffective data sha...
Citations
... This is particularly important in a complex and globalised supply chain where multiple parties are involved. By adopting blockchain, logistics companies can streamline operations, improve data accuracy, and enhance collaboration among stakeholders (Li, Lee & Gharehgozli 2024). Park (2020) and Treiblmaier (2019) indicate that the logistics industry is well-positioned for BCT implementation, which is expected to enhance efficiency by 40% and competitiveness by 35% through increased visibility, dependability, and financial viability within the supply chain ecosystem. ...
... Efficiency gains emerge as a significant benefit of BCT implementation in logistics, as evidenced by studies by Wang et al. (2022) and Li et al. (2024). Through the automation of processes via smart contracts and decentralised ledgers, BCT reduces the need for manual intervention and paperwork, leading to fewer errors and delays (Al-Jaroodi & Mohamed 2019). ...
Background: Blockchain technology is recognised in logistics and supply chain research for its ability to enhance transparency and traceability, offering real-time tracking and authentication of goods. However, constraints persist in the implementation of blockchain technology (BCT) in the logistics industry.
Objectives: The purpose of this article is to provide insight into the benefits of BCT and the constraints hindering the logistics industry from implementing it.
Method: Data were collected through a systematic literature review. The study followed the six steps of the PRISMA framework. A total of 56 journal articles published between 2018 and 2024 were included in the study.
Results: The findings reveal seven constraints that hinder the implementation of BCT in the logistics industry. These include the following: organisational constraints; technological constraints; environmental constraints; implementation risks and costs; interoperability; supply chain fragmentation; and data issues. In addition, we highlight how the implementation of BCT could benefit the logistics industry.
Conclusion: While the logistics industry faces many constraints in blockchain implementation, this technology is a digital solution for improved communication and collaboration with suppliers in the industry.
Contribution: In addition to filling a gap in existing literature, this article serves as a valuable resource for driving BCT implementation in the logistics industry. The practical strategies presented for overcoming the identified barriers can assist stakeholders and policymakers in the adoption of BCT.
... This is particularly important in a complex and globalised supply chain where multiple parties are involved. By adopting blockchain, logistics companies can streamline operations, improve data accuracy, and enhance collaboration among stakeholders (Li, Lee & Gharehgozli 2024). Park (2020) and Treiblmaier (2019) indicate that the logistics industry is well-positioned for BCT implementation, which is expected to enhance efficiency by 40% and competitiveness by 35% through increased visibility, dependability, and financial viability within the supply chain ecosystem. ...
... Efficiency gains emerge as a significant benefit of BCT implementation in logistics, as evidenced by studies by Wang et al. (2022) and Li et al. (2024). Through the automation of processes via smart contracts and decentralised ledgers, BCT reduces the need for manual intervention and paperwork, leading to fewer errors and delays (Al-Jaroodi & Mohamed 2019). ...
Background: Blockchain technology is recognised in logistics and supply chain research for its ability to enhance transparency and traceability, offering real-time tracking and authentication of goods. However, constraints persist in the implementation of blockchain technology (BCT) in the logistics industry.Objectives: The purpose of this article is to provide insight into the benefits of BCT and the constraints hindering the logistics industry from implementing it.Method: Data were collected through a systematic literature review. The study followed the six steps of the PRISMA framework. A total of 56 journal articles published between 2018 and 2024 were included in the study.Results: The findings reveal seven constraints that hinder the implementation of BCT in the logistics industry. These include the following: organisational constraints; technological constraints; environmental constraints; implementation risks and costs; interoperability; supply chain fragmentation; and data issues. In addition, we highlight how the implementation of BCT could benefit the logistics industry.Conclusion: While the logistics industry faces many constraints in blockchain implementation, this technology is a digital solution for improved communication and collaboration with suppliers in the industry.Contribution: In addition to filling a gap in existing literature, this article serves as a valuable resource for driving BCT implementation in the logistics industry. The practical strategies presented for overcoming the identified barriers can assist stakeholders and policymakers in the adoption of BCT.
... The rise of blockchain technology in SC management (Jabbar et al., 2022;Vidhate et al., 2023) has offered SMEs enhanced security and trust in their transactions and SC processes. The immutable and transparent nature of blockchain has the potential to significantly reduce the risk of fraud and counterfeit products in the SC (Li et al., 2024), which builds SMEs' trust and credibility in their market. Cloud-based technologies have played a pivotal role in enabling SMEs to access scalable and cost-effective SC management solutions (Herzog and Herzog, 2024;Ilahi et al., 2024). ...
Purpose
This study presents the impact of Economic Policy Uncertainty (EPU)-induced Trade Supply Chain Vulnerability (TSCV) on the Small and Medium-Sized Enterprises (SMEs) in India by leveraging the World Bank Enterprise Survey data for 2014 and 2022. Applying econometric techniques, it examines firm size’ influence on productivity and trade participation, providing insights for enhancing SME resilience and trade participation amid uncertainty.
Design/methodology/approach
The econometric techniques focus on export participation, along with variables such as total exports, firm size, productivity, and capital intensity. It addresses crucial factors such as the direct import of intermediate goods and foreign ownership. Utilizing the Cobb-Douglas production function, the study estimates Total Factor Productivity, mitigating endogeneity and multicollinearity through a two-stage process. Besides, the study uses a case study of North Indian SMEs engaged in manufacturing activities and their adoption of mitigation strategies to combat unprecedented EPU.
Findings
Results reveal that EPU-induced TSCV reduces exports, impacting employment and firm size. Increased productivity, driven by technological adoption, correlates with improved export performance. The study highlights the negative impact of TSCV on trade participation, particularly for smaller Indian firms. Moreover, SMEs implement cost-based, supplier-based, and inventory-based strategies more than technology-based and risk-based strategies.
Practical implications
Policy recommendations include promoting increased imports and inward foreign direct investment to enhance small firms’ trade integration during economic uncertainty. Tailored support for smaller firms, considering their limited capacity, is crucial. Encouraging small firms to engage in international trade and adopting diverse SC mitigation strategies associated with policy uncertainty are vital considerations.
Originality/value
This study explores the impact of EPU-induced TSCV on Indian SMEs’ trade dynamics, offering nuanced insights for policymakers to enhance SME resilience amid uncertainty. The econometric analysis unveils patterns in export behavior, productivity, and factors influencing trade participation during economic uncertainty.
... Furthermore, the identification of key journals and countries contributing to blockchain research in the maritime sector corroborates existing literature on publication patterns and geographical distribution [36]. Similarly, countries like China, the United Kingdom, and the United States maintain their prominence as leading contributors to maritime blockchain research, reflecting a global interest and collaboration in advancing knowledge in this field [44]. ...
Blockchain technologies, heralded as a transformative force reshaping numerous industries, have recently garnered significant attention within the maritime sector. This study conducts a thorough bibliometric review of 107 scholarly papers authored by 310 scholars, exploring the convergence of blockchain and maritime across 74 reputable scientific journals sourced from the Web of Science databases. Utilizing the powerful R software and Bibliometrix tool, a comprehensive analysis of bibliographical data is undertaken to extract insightful findings. Traversing the scholarly landscape, this research elucidates the multifaceted perspectives and discoveries emerging within the maritime blockchain domain. Through the application of bibliometric techniques, the aim is to uncover prevalent patterns, trends, and crucial themes, thereby offering a comprehensive overview of the academic discourse. In addition to mapping out key contributors and influential journals, this study delves into the interdisciplinary nature of blockchain applications in maritime contexts, showcasing collaborative efforts among scholars from diverse backgrounds. The temporal evolution of scholarly contributions is meticulously examined, providing nuanced insights into the dynamic nature of the field and identifying periods of heightened activity. This research not only serves as a valuable resource for maritime and blockchain scholars but also lays the groundwork for future research endeavors. By integrating bibliometric rigor, diverse scholarly perspectives, and advanced analytical tools, a holistic understanding of the current state and future trajectories of blockchain technology in the maritime industry is facilitated.
