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The (non-)application of blockchain technology in the Greek shipping industry

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  • Papathanasiou, Angeliki
  • Cole, Rosanna
  • Murray, Philip

Abstract

The implementation of blockchain technology (BCT) is gaining traction in supply chain networks, revolutionising the operation of contemporary supply chains and reshaping the potential of business relationships. Empirical studies on blockchain adoption are scant because implementation across networks is in fairly early phase of development, yet evidence from empirical studies is highly desirable. This is one of the first studies of blockchain adoption in the Greek shipping industry, which has not so far been examined by the literature, in direct comparison to early adopters in other European countries such as Norway. The research examined eight Greek shipping companies using workshops with experienced supply chain personnel. Qualitative analysis identified the current position of these organisations in terms of blockchain adoption, by considering possible benefits and inhibitors to implementation. Despite benefits of automated processes and reduced paperwork as a result of smart contracts, findings show a reluctance to adopt BCT. That is, enterprise resource planning (ERP) transformations have left organisations fatigued and disinclined towards further systems development and resistant to subsequent change. Also, the exposure of shared information in the shipping nexus is considered to cause a threat to competitive survival.

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  • Papathanasiou, Angeliki & Cole, Rosanna & Murray, Philip, 2020. "The (non-)application of blockchain technology in the Greek shipping industry," European Management Journal, Elsevier, vol. 38(6), pages 927-938.
    • Handle: RePEc:eee:eurman:v:38:y:2020:i:6:p:927-938
    DOI: 10.1016/j.emj.2020.04.007
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    3. Schnelle, Johannes & Schröder, Meike & Kersten, Wolfgang, 2022. "Framework for the adoption of blockchain in maritime cold chains," Chapters from the Proceedings of the Hamburg International Conference of Logistics (HICL), in: Kersten, Wolfgang & Jahn, Carlos & Blecker, Thorsten & Ringle, Christian M. (ed.), Changing Tides: The New Role of Resilience and Sustainability in Logistics and Supply Chain Management – Innovative Approaches for the Shift to a New , volume 33, pages 121-148, Hamburg University of Technology (TUHH), Institute of Business Logistics and General Management.
    4. Huizhu Ju & Qingcheng Zeng & Xiang Chu & Yimeng Li, 2024. "Cooperative investment strategies of ports and shipping companies in blockchain technology," Operational Research, Springer, vol. 24(2), pages 1-33, June.
    5. Stavros Kalogiannidis & Dimitrios Kalfas & Efstratios Loizou & Olympia Papaevangelou & Fotios Chatzitheodoridis, 2023. "Smart Sustainable Marketing and Emerging Technologies: Evidence from the Greek Business Market," Sustainability, MDPI, vol. 16(1), pages 1-21, December.
    6. Arranz, Carlos F.A. & Arroyabe, Marta F. & Arranz, Nieves & de Arroyabe, Juan Carlos Fernandez, 2023. "Digitalisation dynamics in SMEs: An approach from systems dynamics and artificial intelligence," Technological Forecasting and Social Change, Elsevier, vol. 196(C).
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    8. Surucu-Balci, Ebru & Iris, Çağatay & Balci, Gökcay, 2024. "Digital information in maritime supply chains with blockchain and cloud platforms: Supply chain capabilities, barriers, and research opportunities," Technological Forecasting and Social Change, Elsevier, vol. 198(C).
    9. Balci, Gökcay, 2021. "Digitalization in container shipping: Do perception and satisfaction regarding digital products in a non-technology industry affect overall customer loyalty?," Technological Forecasting and Social Change, Elsevier, vol. 172(C).
    10. Diego Cagigas & Judith Clifton & Daniel Díaz-Fuentes & Marcos Fernández-Gutiérrez & Juan Echevarría-Cuenca & Celia Gilsanz-Gómez, 2022. "Explaining public officials’ opinions on blockchain adoption: a vignette experiment [Robots and jobs: Evidence from US labor markets]," Policy and Society, Darryl S. Jarvis and M. Ramesh, vol. 41(3), pages 343-357.
    11. Nguyen, Son & Shu-Ling Chen, Peggy & Du, Yuquan, 2022. "Risk assessment of maritime container shipping blockchain-integrated systems: An analysis of multi-event scenarios," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 163(C).
    12. Kunpeng Li & Jun-Yeon Lee & Amir Gharehgozli, 2024. "Blockchain implementation in the maritime industry: a literature review and synthesis analysis of benefits and challenges," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 26(4), pages 630-657, December.
    13. Haji Suleman Ali & Feiyan Jia & Zhiyuan Lou & Jingui Xie, 2023. "Effect of blockchain technology initiatives on firms’ market value," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 9(1), pages 1-35, December.
    14. Balci, Gökcay & Surucu-Balci, Ebru, 2021. "Blockchain adoption in the maritime supply chain: Examining barriers and salient stakeholders in containerized international trade," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 156(C).
    15. Dimitris Gavalas & Theodoros Syriopoulos & Efthimios Roumpis, 2022. "Digital adoption and efficiency in the maritime industry," Journal of Shipping and Trade, Springer, vol. 7(1), pages 1-22, December.

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