Risks and Effects of Blockchain Technology Across the Maritime Sector

An increasingly linked and technologically reliant society introduces new risks. Examining marine cyber security challenges may help readers better understand how to protect both ship-based and shore-based systems. This article takes a look at cyberattacks that target systems that let ships move, navigate, and store cargo. Multiple scenarios illustrating possible assaults on damaged vessels and their repercussions highlight the possible severity of the situation. The shipping industry is notoriously bad for the environment. The findings of this study shed new light on the potential of blockchain technology to lessen environmental degradation. Based on our review of the literature, we propose blockchain technology for usage in the marine sector. Professionals in the marine sector are interested in learning how blockchain technology might improve ecological efficiency. Supply chain management (SCM) coordinates information between manufacturers, distributors, and retailers to generate and distribute products and services. SCM aims to reduce manufacturing costs and boost customer satisfaction. Supply chain management is a complicated and vast network of stakeholders from manufacture to delivery, including various middlemen. Possible benefits of the system include increased safety, reduced operating expenses for middlemen, and better supply chain connectivity, data exchange, and visibility of time-stamped verified data. This study examines how marine Blockchain improves supply chain management for intricate maritime logistics by making it more transparent, traceable, and efficient. Stakeholders in the marine industry now have a complete framework to make use of blockchain technology.