Title: Anchoring Efficiency: The Impact of Blockchain on Supply Chain and Logistics in the Maritime Industry. A case of Tanzania's Maritime industry
Authors: Frank James Somanga
Volume: 8
Issue: 7
Pages: 388-406
Publication Date: 2024/07/28
Abstract:
As Tanzania's maritime sector deals with challenges such as inefficiencies, fraud, and fragmented communication, blockchain emerges as a promising solution to address these issues. The aim of the study was to investigate the transformative potential of blockchain technology in enhancing the efficiency and transparency of maritime supply chains. The research employed qualitative and quantitative methodologies, including interviews with industry stakeholders and an examination of existing literature, to assess the perceived benefits and limitations of blockchain integration. Findings revealed that blockchain technology significantly improves supply chain visibility, reduces operational costs, and enhances data security. However, challenges such as technological adoption barriers, regulatory uncertainties, and infrastructure limitations were also identified. The study concluded that while blockchain offers substantial potential for optimizing maritime logistics, its successful implementation requires overcoming several obstacles. Recommendations include capitalization on blockchain's benefits, significant investment in infrastructure is essential, encouragement of collaboration among maritime industry players so as to facilitate the sharing of best practices and experiences related to blockchain implementation and investing in stakeholder training and engagement. The research underlines the need for further studies to explore scalability, investigating factors influencing user adoption and resistance to blockchain technology within the maritime industry and examining how blockchain technology affects relationships among stakeholders in the maritime supply chain, including shippers, port authorities, customs officials, and end-users.