Lloyd & # 39; s Register (LR), a British technology and business maritime classification firm, created a model of a blockchain-class register, according to an official press release published on September 4.
The new register of classes of LR is reportedly "the first demonstrator able to register ships in the classroom" through the use of blockchain technology. Originally, LR published the first "Register of Ships" in 1764 in order to provide subscribers and traders with information on the condition and quality of the ships that were insured and chartered.
In order to transform the system that was introduced in the eighteenth century, LR has partnered with Applied Blockchain, based in London. By applying the new "Class Register", the company intends to increase the classification and registration of new ships, as well as launch a blockchain-based register service prototype.
The prototype log is currently demonstrated at the leading international maritime trade fair SMM takes place in Hamburg, Germany, from 4 to 7 September.
LR Marine & Offshore Director Nick Brown commented that the company successfully tested the blockchain recording technology for ships, finding that the blockchain-enabled register provides "immutability and verifiability" which in turn allows "greater trust "between merchants and underwriters, as well as facilitating data sharing to be available" up-to-the-minute. "
Brown added that the company is now developing methods to promote the value of the recent project "to other stakeholders in the maritime supply chain".
Blockchain technology has been implemented by various transport spheres around him world. On 20 August, China's largest electric bus operator, the National Transportation Capacity Co Ltd (NTS), worked with the US technology company Seven Stars Cloud Group (SSC) to replace all conventional buses with electric vehicles as soon as 2021 using blockchain technology.
At the beginning of July, Lotte Global Logistics' principal logistics and shipping company joined the Blockchain in Transport Alliance (BiTA), which develops and promotes blockchain applications in the transport sector and of logistics.