The first BLOC’s bunker transaction using blockchain technology was made to a Samskip vessel via a Reinplus Vanwoerden bunker barge in Rotterdam on September 7, reports Bunker Index
With this, the digital solutions provider Blockchain Labs for Open Collaboration (BLOC) announced the completion of its first bunker transaction – and resulting delivery – using blockchain technology.
How does it work?
Using a decentralised, distributed and public digital ledger, the BLOC system is designed to provide end-to-end traceability of marine bunkering transactions – from storage, to the barge or jetty, and on to the vessel’s fuel tank.
A first among firsts
In addition to being BLOC’s first blockchain transaction, the Samskip delivery was also the first for Maritime Blockchain Labs (MBL) – an initiative by BLOC of blockchain pilot projects conducted in collaboration with blockchain practitioners and industry actors.
Furthermore, it was the first low-carbon marine fuel delivery as part of the GoodShipping Program – a project that aims to drive the use of truly sustainable fuels, and which requires shippers to commit to a reduction in their sea freight CO2 emissions by purchasing biofuel.
The Importance of Blockchain
Deanna Macdonald, CEO of BLOC, said: “This project not only allows us to validate the value of blockchain technology in the marine fuels supply chain, but also to identify incentives to ensure that users input correct information into systems, and that any technology and systems created can be used as widely as possible.”
How does the bunker industry benefit?
“The bunker industry – with its multiple large volume transactions, and history of fraudulent claims – provides an ideal platform to examine where blockchain’s digital platform can be utilised to increase transparency, and create better compliance and strong governance. The fact that the first transaction was for low-carbon fuel makes both the project and the opportunity for the future all the more exciting.”
Did you subscribe for our daily newsletter?
It’s Free! Click here to Subscribe!
Source: Bunker Index
I every time emailed this website post page to all my associates, as if like to read it then my contacts will too.
Some dating sites are more expensive than others, so it’s important to consider your budget and desired subscription length while looking for the right site for you. http://www.directory8.org/details.php?id=269076 Indicatori sulla dating si deve sapere
@eerwq