Global: Marine industry could save trillions of dollars by using blockchain
29.05.2017 Global: Marine industry could save trillions of dollars by using blockchainInsuranceNEWS, 29 May 2017, online:-
According to a report from Marsh, the marine industry could save trillions of dollars in processing fees by using blockchain technology. The software platform for digital assets may save USD 300 (EUR 268.32) in labour and processing per container. For a vessel carrying 18,000 containers, this translates to around USD 5.40mn saving. Marsh revealed that blockchain, however, requires a system of governance as well as consideration of the technology's implications in very poor nations where automation would replace jobs. According to another study by Maersk, around 30 people, on average, 'touched' a product shipped by container. This results in over 200 separate transactions.
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