Singapore Shipping Association building e-registry based on blockchain
System, intended for global adoption, aims to cut time, costs, errors
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Singapore
A BLOCKCHAIN-BASED ship registration preparation system for international adoption is in the works, with hopes that it could reduce time, costs and the incidence of error and fraud in the ship registration process.
The Singapore Shipping Association (SSA) is working with the International Chamber of Commerce (ICC) and Singapore tech startup Perlin to build the International E-Registry of Ships (IERS) system, which they hope will "drastically improve the currently laborious ship registration and renewal process", a joint press release said on Monday.
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