The Need for Legal Regulation of Blockchain and Smart Contracts in the Shipping Industry

Perkušić, Marko; Jozipović, Šime; Piplica, Damir

doi:10.7225/toms.v09.n02.019

prikaz prve stranice dokumenta The Need for Legal Regulation of Blockchain and Smart Contracts in the Shipping Industry

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Scientific paper - Review paper

The Need for Legal Regulation of Blockchain and Smart Contracts in the Shipping Industry

Transactions on Maritime Science, 09 (2020), 02; 365-373. https://doi.org/10.7225/toms.v09.n02.019

Perkušić, Marko; Jozipović, Šime; Piplica, Damir

Cite this document

APA 6th Edition

Perkušić, M., Jozipović, Š. & Piplica, D. (2020). The Need for Legal Regulation of Blockchain and Smart Contracts in the Shipping Industry. Transactions on Maritime Science, 09. (02), 365-373. doi: 10.7225/toms.v09.n02.019

MLA 8th Edition

Perkušić, Marko, et al. "The Need for Legal Regulation of Blockchain and Smart Contracts in the Shipping Industry." Transactions on Maritime Science, vol. 09, no. 02, 2020, pp. 365-373. https://doi.org/10.7225/toms.v09.n02.019

Chicago 17th Edition

Perkušić, Marko, Šime Jozipović and Damir Piplica. "The Need for Legal Regulation of Blockchain and Smart Contracts in the Shipping Industry." Transactions on Maritime Science 09, no. 02 (2020): 365-373. https://doi.org/10.7225/toms.v09.n02.019

Harvard

Perkušić, M., Jozipović, Š. and Piplica, D. (2020) 'The Need for Legal Regulation of Blockchain and Smart Contracts in the Shipping Industry', Transactions on Maritime Science, 09(02), pp. 365-373. doi: 10.7225/toms.v09.n02.019

Vancouver

Perkušić M, Jozipović Š, Piplica D. The Need for Legal Regulation of Blockchain and Smart Contracts in the Shipping Industry. Transactions on Maritime Science [Internet]. 2020 [cited 2024 November 04];09(02):365-373. doi: 10.7225/toms.v09.n02.019

IEEE

M. Perkušić, Š. Jozipović and D. Piplica, "The Need for Legal Regulation of Blockchain and Smart Contracts in the Shipping Industry", Transactions on Maritime Science, vol. 09, no. 02, pp. 365-373, 2020. [Online]. Available at: https://urn.nsk.hr/urn:nbn:hr:227:924480. [Accessed: 04 November 2024]

Cite this item: https://urn.nsk.hr/urn:nbn:hr:227:924480

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Metadata

Title (english)	The Need for Legal Regulation of Blockchain and Smart Contracts in the Shipping Industry
Author	Marko Perkušić
Author	Šime Jozipović
Author	Damir Piplica
Author's institution	University of Split Faculty of economics Split
Author's institution	University of Split University Department of Forensic Sciences
Scientific / art field, discipline and subdiscipline	SOCIAL SCIENCES Economics
Abstract (english)	The paper analyzes the potential impact of blockchain technology and smart contracts on the shipping industry. As the shipping industry represents a complex system of various actions that have to be controlled and registered, blockchain technology could serve as a tool to allow the streamlining of numerous processes, whilst at the same time taking the human factor out of multiple elements where trust between involved parties is an issue. The authors therefore first present how blockchain technology works and what smart contracts are, in order to give an insight into their applicability in the shipping sector. After a general overview of the technological and legal characteristics of blockchain technology and smart contracts, the authors present examples of relevant subjects, relations, and contracts in the shipping industry. Based on the charter party, a key contract in the shipping industry, the authors present the existing problems which could potentially be solved using blockchain technology. Besides the benefits of blockchain technologies, the authors furthermore point out the existing deficiencies that still make blockchain technology hard to apply in legal relations within the shipping industry. Based on these insights, the authors highlight the current developments in this area and present the existing and expected regulatory reforms of blockchain solutions and smart contracts within the European Union.
Keywords (english)
Language	english
Publication type	Scientific paper - Review paper
Publication status	Published
Peer review	Peer review
Publication version	Published version
Journal title	Transactions on Maritime Science
Numbering	vol. 09, no. 02, pp. 365-373
p-ISSN	1848-3305
e-ISSN	1848-3313
DOI	https://doi.org/10.7225/toms.v09.n02.019
URN:NBN	urn:nbn:hr:227:924480
Publication	2020
Document URL	https://hrcak.srce.hr/249610
Type of resource	Text
Access conditions	Open access
Terms of use
Created on	2024-07-04 07:47:42