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
Rights: © 2020 Elsevier Ltd. All rights reserved.
Fulltext Permission: none
Fulltext Availability: No Fulltext
Appears in Collections:CEE Journal Articles

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