Singapore waves the flag for blockchain registries

Singapore waves the flag for blockchain registries

The Singapore Shipping Association (SSA) has detailed work it is carrying out with with the world’s largest business organisation, the International Chamber of Commerce (ICC) and local tech startup Perlin to build an advanced digital blockchain ship registration preparation system for international adoption.

Called the International E-Registry of Ships (IERS), it is an entirely new digital blockchain-based solution to streamline and standardise the ship registration and renewal process.

“The Singapore flag is already a nexus for global maritime trade and innovation. The Singapore Shipping Association has been actively encouraging and promoting the adoption of new technologies to navigate the future of shipping. This opportunity to collaborate with the ICC and Perlin to co-create the world’s first blockchain system for preparation of ship registration not only brings solid efficiency gains and cost savings for our members but also the wider global maritime community,” said Steen Brodsgaard Lund, SSA council member and chairman of the digital transformation committee.

The IERS will be powered by Perlin’s Wavelet Protocol to create a blockchain e-register powered by self-executing smart contracts, a streamlined relationship management platform, and simplified data entry user systems.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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