Please use this identifier to cite or link to this item:
https://hdl.handle.net/10356/154511
Title: | The key challenges and critical success factors of blockchain implementation : policy implications for Singapore's maritime industry | Authors: | Zhou, Yusheng Soh, Ying Shan Loh, Hui Shan Yuen, Kum Fai |
Keywords: | Engineering::Civil engineering | Issue Date: | 2020 | Source: | Zhou, Y., Soh, Y. S., Loh, H. S. & Yuen, K. F. (2020). The key challenges and critical success factors of blockchain implementation : policy implications for Singapore's maritime industry. Marine Policy, 122, 104265-. https://dx.doi.org/10.1016/j.marpol.2020.104265 | Journal: | Marine Policy | Abstract: | Blockchain has the potential to improve the efficiency and transparency of maritime businesses and operations. Nevertheless, few studies have been conducted to identify the key challenges and critical success factors (CSFs) of blockchain implementation in the maritime industry. A case study approach based on Singapore's maritime industry is adopted. Four interviews are conducted to establish the face validity of the survey questionnaire before data are collected from 30 maritime professionals from Singapore's maritime industry. In addition to analytic hierarchical process (AHP), a fishbone diagram and PESTEL analysis are also adopted to organize and discuss the results. The results show that there are six key challenges and six CSFs for blockchain implementation. Using a fishbone diagram, the six identified challenges along with 13 personal concerns are categorized into five dimensions related to people, methods, organization, external environment, and technology. The CSFs are sufficient capital, staff training, ease of local legislation, support from the shipping community, support from the senior management, and professional consultation and assistance. This study implicates marine policy formulation in relation to subsidies and investments, blockchain talent and knowledge acquisition, and workforce training and education to accelerate blockchain implementation in the maritime industry. | URI: | https://hdl.handle.net/10356/154511 | ISSN: | 0308-597X | DOI: | 10.1016/j.marpol.2020.104265 | Schools: | School of Civil and Environmental Engineering | Rights: | © 2020 Elsevier Ltd. All rights reserved. | Fulltext Permission: | none | Fulltext Availability: | No Fulltext |
Appears in Collections: | CEE Journal Articles |
SCOPUSTM
Citations
5
82
Updated on Mar 23, 2024
Web of ScienceTM
Citations
5
54
Updated on Oct 25, 2023
Page view(s)
171
Updated on Mar 28, 2024
Google ScholarTM
Check
Altmetric
Items in DR-NTU are protected by copyright, with all rights reserved, unless otherwise indicated.