Reinforcing Strategic Capabilities Trust and Reliability in the Container Shipping Business Using the Blockchain Technology

Janez Kriznar & Emmanouil Psoma

Student thesis: Master thesis

Abstract

The content of this report is centred on the main research question which is to determine “How can Blockchain Reinforce Strategic Capabilities, Trust and Reliability in the Container Shipping Business?”. The reason this question is deemed important lies within the current state container shipping industry. There is a strong need and even expectation for radical change in the industry, which is why this report takes key areas of improvement and determines how blockchain can address them. The research question was supplemented with four sub-questions to elaborate on the strategies within container shipping, the innovative technologies and blockchain implementation. Since blockchain is still a novelty technology, there was a limited amount of literature which could be used to address the areas of research, but no lack of web articles and discussions about the technology itself and its implications and potential. In addition to that, four interviews were conducted to gather the insights and validations about the connections between the literature and the industry. Theories about technology disruption, management and road-mapping were used to create a theoretical framework for analysis to serve the adoption of blockchain. At the end of the analysis, the roadmap was produced with major milestones in the adoption of blockchain in the container shipping industry. The effort to answer the research question was guided by the constructed theoretical framework, and produced insight about the state of the industry and how the processes of the big companies leading the industry are very engrained. One of the aspects of discovery is that these processes are finally changing in response to a pressing need to accept innovation. The research also explored ways in which blockchain can contribute to the industry growth and prepare it for the future. The analysis revealed how it gradually enhances the processes towards business standardisation. Through the analysis of the shipping industry and the impact that blockchain has and is expected to have in the future, the conclusion was drawn on the best approach for the companies in the container shipping industry to take when implementing blockchain. The research question is set to address the future and a way for the big players in the industry to remain relevant in that future. The use cases need to be continuously explored and companies should find ways to enable that. Blockchain can be an enabler in reaching a consensus for the standardisation of processes in the industry which is an important milestone.

EducationsMSc in Applied Economics and Finance, (Graduate Programme) Final Thesis
LanguageEnglish
Publication date2018
Number of pages142