Selected as lead contractor, ICONLOOP will build the platform with blockchain and NFTs.
ICONLOOP has been selected as lead contractor for the "blockchain-based ship inspection management platform for maritime safety" project, and will use blockchain technology and NFTs (non-fungible tokens) to build a ship inspection management platform that creates a safer sailing environment for vessels.
The project is part of the 2021 Blockchain Leading Pilot Program overseen by the Ministry of Science and ICT and the Korea Internet & Security Agency (KISA). Its client agencies are the Central Radio Management Service, the Korea Communications Agency (KCA), and Suhyup, the National Federation of Fisheries Cooperatives. The platform is scheduled for release in the second half of this year.
Blockchain eliminates the possibility of document forgery at the source and lets agencies use data together
The ship inspection management platform built through this project uses blockchain to make data such as radio station licensing and inspection results transparently manageable and usable. Verification through blockchain technology eliminates any possibility of forgery or alteration of the data at the source, while laying the groundwork for an efficient ship inspection management system.
Per-vessel safety inspection data managed as NFTs, opening up linkage with a range of services
Safety inspection data for each vessel is also issued as an NFT, so owners can check and manage the condition of their own ships directly. An NFT assigns a unique identifying value to digital content using blockchain technology, and these will be developed on the basis of ICONLOOP's proprietary blockchain technology. Owners can check the progress of ship inspections through Suhyup's Joeop Jeongbo Allimi (fishing operation information notifier) app, which makes it easy to stay on top of a vessel without missing inspection deadlines.
As transparent inspection history for vessels accumulates, other forms of linkage become possible too — supplying ship data issued as NFTs to used-vessel trading or insurance services, for example.
What makes this project significant is that blockchain technology can create a safer maritime and shipping ecosystem, and beyond that improve both the quality of administrative services at inspection agencies and the day-to-day experience of ship owners. Building on this platform, ICONLOOP will actively support the application of blockchain across many areas of the maritime and shipping sector, so that ships, crews, fishers, and other participants can experience the practical convenience and value blockchain delivers.
[Reference] Read the full KCA press release ▼
[Reference] Read the full ICONLOOP press release ▼
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