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Lloyd’s Register Foundation funds blockchain study

23 Mar 2018

Lloyd's Register Foundation (the Foundation) and Blockchain Labs for Open Collaboration (BLOC) have announced a funding partnership to set up Maritime Blockchain Labs (MBL).

MBL will explore the use of blockchain for the assurance and safety of critical infrastructure over the next 18 months through three demonstrator projects. The projects, focused on aspects of risk and safety for the maritime sector, will be announced soon.

“The three demonstrators will build, apply and model the use of distributed systems to create impacts that enhance safety of life and property at sea and serve as case examples to be shared with the community,” says Deanna MacDonald, CEO, BLOC.

“By fostering a collaborative approach we can derisk the space, demonstrate capacity and build the technical as well as educational foundations necessary for collectively developing and applying this emerging technology.”

Another objective of MBL is to establish an ecosystem within the sector to foster innovation and collaboration between blockchain practitioners and industry actors.

“In our recent Insight Report on Distributed Ledger Technologies, we conclude that distributed ledger and blockchain technologies have a potentially wide range of applications related to engineered systems and supply chains, particularly in helping to address safety challenges of sectors such as maritime,” notes Gary Pogson, the author of Lloyd's Register Foundation and the Alan Turing Institute's Insight Report on Distributed Ledger technologies.

“Maritime Blockchain Labs and its projects will drive intelligent, informed blockchain adoption in the maritime sector through demonstrator projects that will deliver first-hand, real-world insight of how these technologies can be applied, and how the industry can realise maximum benefit from their capabilities.”

Published: 23 March, 2018

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