Tag: antwerp

Will blockchain lead to a new maritime revolution?



The name may seem odd, but it is currently the subject of several discussions in the logistics sector. The blockchain could revolutionize operation management in several areas, including transport and logistics. Given its growing popularity, many are talking about a new internet revolution.

Napster, and later LimeWire, pioneers of music file sharing services already use the technology. Bitcoin is another example. Because digital money is also based on peer-to-peer distribution, exchanges are made directly between individuals as it is the case for paper money.

There are many advantages for using blockchain technology and this is why several large transport projects are now in the experimental phase. The results of these tests will give us more precise information on this subject.

1-Main blockchain’s characteristics

While most computer systems are built as client-server systems, peer to peer directly distributes data to all users of a network without intermediate servers. The different components of the network interact, but without hierarchical structure, making the management of this network autonomous. It is the duplication of data to all members of the network that eliminates the need for centralized system.

The blocks

Blockchain is in fact an application of a peer-to-peer exchange system which integrates added value services. These transactional services are called “intelligent contracts”. They are directives for conditional execution of certain tasks and are incorporated in blocks of instructions.

The process

The process is as follows. After registering recent transactions, a new block is generated, new transactions are validated by consensus of network partners and then added to a long string of previously created blocks.

The ledger

All blocks are registered in ledger that is distributed in the network. Content is encrypted and accessible by members, but can not be edited or deleted. This guarantees the authenticity and security of the network and Lire la suite