Blockchain-Powered Incentive System for JIT Arrival Operations and Decarbonization in Maritime Shipping

Son Nguyen, Aengus Leman, Zhe Xiao (), Xiuju Fu (), Xiaocai Zhang, Xiaoyang Wei, Wanbing Zhang, Ning Li, Wei Zhang and Zheng Qin
Additional contact information
Son Nguyen: Institute of High Performance Computing (IHPC), Agency for Science, Technology and Research (A*STAR), 1 Fusionopolis Way, #16-16 Connexis, Singapore 138632, Singapore
Aengus Leman: Faculty of Science, National University of Singapore, 6 Science Drive 2, Singapore 117546, Singapore
Zhe Xiao: Institute of High Performance Computing (IHPC), Agency for Science, Technology and Research (A*STAR), 1 Fusionopolis Way, #16-16 Connexis, Singapore 138632, Singapore
Xiuju Fu: Institute of High Performance Computing (IHPC), Agency for Science, Technology and Research (A*STAR), 1 Fusionopolis Way, #16-16 Connexis, Singapore 138632, Singapore
Xiaocai Zhang: Institute of High Performance Computing (IHPC), Agency for Science, Technology and Research (A*STAR), 1 Fusionopolis Way, #16-16 Connexis, Singapore 138632, Singapore
Xiaoyang Wei: Institute of High Performance Computing (IHPC), Agency for Science, Technology and Research (A*STAR), 1 Fusionopolis Way, #16-16 Connexis, Singapore 138632, Singapore
Wanbing Zhang: Institute of High Performance Computing (IHPC), Agency for Science, Technology and Research (A*STAR), 1 Fusionopolis Way, #16-16 Connexis, Singapore 138632, Singapore
Ning Li: Institute of High Performance Computing (IHPC), Agency for Science, Technology and Research (A*STAR), 1 Fusionopolis Way, #16-16 Connexis, Singapore 138632, Singapore
Wei Zhang: Institute of High Performance Computing (IHPC), Agency for Science, Technology and Research (A*STAR), 1 Fusionopolis Way, #16-16 Connexis, Singapore 138632, Singapore
Zheng Qin: Institute of High Performance Computing (IHPC), Agency for Science, Technology and Research (A*STAR), 1 Fusionopolis Way, #16-16 Connexis, Singapore 138632, Singapore

Sustainability, 2023, vol. 15, issue 22, 1-22

Abstract: Efficiency and sustainability are undisputedly the most critical objectives for modern ports. Current exercises for port services still lack performance profiling for arriving vessels regarding their arrival punctuality and compliance with port resource schedule for Just-in-time (JIT) service, as well as their efforts contributing towards less emission through reduced turnaround time within port. As a result, a performance-based incentive is missing. Bringing in the incentive component may facilitate the objectives of achieving both port efficiency and sustainability. Blockchain technology, owning to its intrinsic features like immutability, traceability, governance and provenance, and in-built tokens (for most public chain platforms), allow for the establishment of system solutions to record key performance indicators (KPIs) and distribute incentives to good performers. This paper is the first to propose a blockchain-based system to incentivize JIT and green operations in ports. The platform system design and operating mechanisms are elaborated in detail, and a prototype system has been implemented based on the Solana blockchain to demonstrate the core features. The current system’s potential is substantial, considering the industry’s increasing awareness about its environmental footprint. Continuous developments can be facilitated by connecting to market-based measures such as carbon pricing and emission trading in the maritime sector.

Keywords: container shipping; JIT arrival; blockchain; decarbonization; port optimization; sustainability (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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