tl;dr
A growing number of global companies, particularly in the transportation and maritime sectors, are leveraging blockchain technology and other emerging technologies to enhance operational efficiency. This includes initiatives such as facial recognition and blockchain-based digital IDs for ticketing i...
FIRMS FLAUNT BLOCKCHAIN’S UTILITY IN TRANSPORTATION, MARITIME
A growing number of global companies, particularly in the transportation and maritime sectors, are leveraging blockchain technology and other emerging technologies to enhance operational efficiency. This includes initiatives such as facial recognition and blockchain-based digital IDs for ticketing in railway operations in Japan, France, and Indonesia. Additionally, there are efforts to utilize blockchain for hazardous cargo documentation in the shipping industry, aiming to streamline safety procedures and prevent the use of fake documents.
The adoption of blockchain technology is seen as a significant trend in both transportation and maritime industries, with potential for widespread impact on operational processes.
Transportation Sector Advancements:
Railway operators in Japan, France, and Indonesia are incorporating QR codes, artificial intelligence (AI), and near-field communication (NFC) technology to improve ticketing processes. SNCF in France has conducted tests involving blockchain-based digital IDs for ticketing using the France Identité mobile app. Similar initiatives in Japan and Indonesia are focused on enhancing the ticketing process through facial recognition technology, aiming to improve efficiency and reduce paper ticket usage.
Furthermore, there is a growing emphasis on the need for decentralization to protect passengers’ personal data due to the surge in data collection and privacy concerns. Venture capital firm Key State Capital advocates for blockchain solutions, citing Zero-Knowledge Proofs (ZKP) systems and blockchain’s immutability as reasons for the industry-wide switch. Additionally, the University of Birmingham's study recommends on-chain ticketing systems for cost-efficiency and transparency.
Maritime Sector Evolution:
In the shipping industry, blockchain technology is being explored for hazardous cargo documentation. COSCO Shipping Lines and the Global Shipping Business Network (GSBN) have initiated a pilot program to leverage blockchain for hazardous cargo documentation, aiming to streamline safety procedures and reduce the risk of using fake documents. By using blockchain-based certification models, the industry aims to prevent unexpected incidents and ensure the authenticity of safety certifications for hazardous materials.
Additionally, shipping operators in Hong Kong have embraced blockchain-based electronic bills of lading (eBL) to replace traditional paperwork, with over 200,000 on-chain eBLs recorded since their rollout in 2023.
Overall, the transportation and maritime industries are witnessing a migration towards blockchain technology, signaling a significant shift towards digitization and operational efficiency.