The Lloyd’s Register Foundation has teamed up with Blockchain Labs for Open Cooperation (BLOC) to create a maritime blockchain lab (MBL).
The idea of the collaboration is to develop blockchain technology for the safety assurance of critical infrastructure and also create new maritime business models.
The Lloyd’s Register Foundation will provide the funding to come up with three projects demonstrating how blockchain can provide solutions for risk and safety problems in the maritime industry.
The partners also hope that the MBL will provide an industry platform for idea sharing for the development of blockchain.
BLOC chief executive Deanna MacDonald said: “Our objectives are twofold: to get real-world applications on the ground as soon as possible, and to share knowledge and methodologies among users.
"Blockchain is fundamentally a collaborative technology and will only truly transform the industry if we are all working from the same, or interlinked, systems, rather than competing.”
LR’s distributed ledger technology expert Gary Pogson said: “Maritime Blockchain Labs and its projects will drive intelligent, informed blockchain adoption in the maritime sector through demonstrator projects that will deliver first-hand, real-world insight into how these technologies can be applied, and how the industry can realise maximum benefit from their capabilities.”
