Page 16: of Maritime Reporter Magazine (June 2018)

Green Marine Technology

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DIGITALIZATION

Time

About the Author

Bill Dobie is Founder & CEO of SEDNA, a

Shipping’s Most Valuable Commodity cloud-based communication and trans- action management platform purpose- designed for the shipping sector to help reduce operating costs and improve team ef? ciency.

The shipping industry – not for the ? rst Similarly, ‘the blockchain’ is, contrary to required trade documentation to process Bad Peanut Butter?’ put it: “while [the] time and certainly not for the last – is ? rst impressions, a means of unblocking; and administer many of these goods is containers themselves can be loaded on having to learn new words and phrases while it’s not a chain at all, and certainly estimated to reach one-? fth of the actual a ship in a matter of minutes, a container that, we are reliably informed, mean not a paper one. physical transportation costs”. Given the can be held up in port for days because something that will hugely impact the Interest in these new phrases peaked context – that more than $4 trillion in a piece of paper goes missing, while the sector; even if no one yet seems sure with news in January that global technol- goods are shipped each year, and more goods inside spoil. The cost of moving how. ogy giant IBM and world-leading ship- than 80 percent of the goods consumers and keeping track of all this paperwork

When it comes to interpreting these ping company Maersk had entered a joint use daily are carried by the ocean ship- often equals the cost of physically mov- phrases, particularly those of a tech- venture. The announcement heralded an ping industry – the potential savings are ing the container around the world.” nological leaning, commonly held as- era of “paperless trade” to help “reduce almost beyond comprehension. IBM and Maersk have given us a sumptions don’t apply. ‘Disruption’, the time and cost for clearance and car- glimpse at a world offering “paperless for example, is not at all related to port go movement”, with blockchain-based Trade documentation…is esti- trade” to help reduce the time and cost delays, strikes, or any other limitation to smart contracts ensuring that all required mated to reach one-

Maritime Reporter

First published in 1881 Maritime Reporter is the world's largest audited circulation publication serving the global maritime industry.