Blockchain Technology
eLog: Raytheon Anschütz Launches Electronic Logbook
Raytheon Anschütz, a business of Raytheon Technologies, has launched an electronic logbook for ships. Dubbed eLog, it is designed to provide secure, quality logbook data and is positioned by the company as a step toward paperless shipping and improved efficiency of onboard processes.Featuring automatic data entry from navigation systems such as the automatic identification system (AIS) or the integrated navigation system (INS), at defined intervals, eLog also enables data input by crews via laptop or mobile devices…
“Blockchain” and the World of Marine Insurance
If you’ve been working in the marine insurance industry lately, you will have heard about “blockchain” at some point; it is the electronic, distributed ledger, notoriously known for enabling the use of cryptocurrencies such as Bitcoin and Ether. But the blockchain technology’s utility goes beyond cryptocurrencies, potentially offering creative ways to solve other real-world problems. Within blockchain ledgers, the use of ‘smart’ contracts essentially converts contractual obligations into lines of computer protocols, which facilitate, verify, or enforce its performance.
