Connecting Chains: An AI-Blockchain Ecosystem for the Shipping Industry

In a world where various technological advancements have influenced the way humans interact on a global scale, a few disruptive technologies have cleared the path for a new chapter in global affairs. Among these technologies is the blockchain technology which is a distributed ledger technology (DLT) and artificial intelligence. Global logistics, which remains to be the backbone of the entire global supply chain, describes the importance of ensuring the optimization of the shipping industry challenges. However, the shipping industry is going through some challenges that force the industry to reconsider their business model. The shipping industry has a lack of visibility due to the opaqueness created by the complex structure of the industry, with numerous agents and intermediaries, filing heaps of paperwork, which continues to plague the smooth and efficient functioning of the shipping industry. Through this book, we are focusing on these aspects of the evolved technologies and their applications in the global shipping industry. Emerging and disruptive technologies such as blockchain and AI, has been implemented in parts, within the shipping industry, however, due to certain challenges, a fully-functional implementation has not taken place. This book would be exploring how the integration of blockchain technology and artificial intelligence would impact the shipping sector and examines the benefits of an integrated ecosystem for the industry.