The Impact of Covid-19 on Blockchain Adoption Time of Shipowners
Shuyi Pu, Jasmine Siu Lee Lam · 2021 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM) · 2021
The outbreak of Covid-19 has accelerated the need for digitalisation in maritime supply chains. Blockchain is a promising digital technology for post-Covid-19 recovery because of its immutability, transparency, traceability and security. This paper aims to analyse the impact of Covid-19 on blockchain adoption time among shipowners. A game theoretical model is built to solve the problem. In numerical applications, the impact of Covid-19 is observed by comparing the results to those without Covid-19. It is found that Covid-19 has a positive effect on accelerating blockchain adoption for a few small shipowners. This indicates that Covid-19 provides a good business opportunity for blockchain developers to market their products.