The Impact of Blockchain Technology on Supply Chain Management Efficiency in the Maritime Industry

Abstract

Blockchain technology has emerged as a disruptive force in various industries, promising enhanced transparency, security, and efficiency in business operations. In the maritime industry, characterized by complex supply chains and multiple stakeholders, blockchain holds significant potential for streamlining processes and reducing costs. This paper explores the impact of blockchain technology on supply chain management efficiency in the maritime industry. Through a comprehensive review of relevant literature and case studies, we examine how blockchain facilitates improved transparency, traceability, and automation of transactions in maritime logistics. Furthermore, we analyze the challenges and opportunities associated with the adoption of blockchain technology in maritime supply chains, including issues of interoperability, scalability, and regulatory compliance. By highlighting successful implementations and potential future developments, this research contributes to a deeper understanding of the transformative potential of blockchain technology in revolutionizing supply chain management practices within the maritime industry.