Blockchain Protocol for Ship Registry
The manual process of ship registration comprises of an endless bundle of documents need to be filled out one after another. Such onerous tasks are characterized by several inefficiencies which may cause ship owners to let go of transparent practices as they juggle the management and handling of documents. Registration of data during the sale and purchase of ships is another aspect which extensive modification of information before a transaction finally reaches its conclusion. In the midst of issues which surround present registry processes, the likelihood of errors may reach its peak. Enabling the digitalization of the ship registry procedure, Oceanus hopes to emerge as a visionary in the field by transfer– ring this process to the blockchain.
Oceanus platform will serve as a decentralized origin and authority agnostic ledger to facilitating digital registration processes and allowing easier data modification to help users escape the shackles of manual ship registry.
Due to the prevalence of scams and fraudulent practices in the shipping industry, it is fundamental for customers to be able to benefit from a feature that can allow them to verify the certificates of vessels, especially those that belong to nations that were previously subjected to sanctions or may have corrupt administrative practices. Therefore, Oceanus’ blockchain protocol proposes to establish a system through which users will be equipped with the ability to check the authenticity of vessel certificates by entering the Tracking Identification Number (TID), the vessel’s IMO number or the certificate’s date of issue. Oceanus’ dececentralized database will then help the user match this information against authentic records to verify information about flagged vessels.
Our team is already working closely with a ship registration authority to create a working demo. We develop this tool not with aim to commercialize it- but rather as a technology to work complimentary with our solutions and safeguard ship registration and ownership transfer backed by blockchain’s immutability and auditability. Our prototype will be available for maritime authotiries, while we are going to work closely with registration authorities to improve it.Paraskevi Kostopoulou - Finance
Do you represent a Ship Registry or a Maritime Authority?
Oceanus Blockchain Consultancy for Freight and 3PLS organizations
Oceanus Consultancy has a team of in-house blockchain consultants and blockchain developers that are dedicated to building applied blockchain solutions in the domain of freight and logistics. The team strives to share our expertise on applying blockchain’s potential, and we feel the key here is identifying how blockchain could best fit the client’s business model.
All engagements are initiated with a complimentary consultation phase to explore the business proposition and the use case for blockchain. Drop us a message using the Contact Us page to realize your blockchain ambitions.