ICONLOOP Wins Project to Build Blockchain-Based Ship Inspection Management Platform for Maritime Safety
- Managing per-vessel safety inspection data as NFTs while expanding the potential for linkage with a range of services
August 30, 2021, Seoul — ICONLOOP (CEO JH Kim), a leading Korean blockchain company, announced that it has won the project to build a blockchain-based ship inspection management platform for maritime safety.
ICONLOOP has been selected as lead contractor for the "blockchain-based ship inspection management platform for maritime safety" project, part of the <2021 Blockchain Leading Pilot Program> overseen by the Ministry of Science and ICT and the Korea Internet & Security Agency (KISA). The company will build a ship inspection management platform that uses blockchain technology and NFTs (non-fungible tokens) to create a safer sailing environment for vessels. The client agencies for the project are the Central Radio Management Service, the Korea Communications Agency (KCA), and Suhyup, the National Federation of Fisheries Cooperatives, and the platform is scheduled for release in the second half of this year.
The ship inspection management platform built through this project will use 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 providing the foundation for an efficient ship inspection management system.
Per-vessel safety inspection data will also be issued as NFTs, allowing ship owners to check and manage the condition of their own vessels 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, letting them manage their vessels conveniently without missing inspection deadlines.
As transparent inspection history for vessels accumulates, various forms of linkage are also expected to become possible — such as providing ship data issued as NFTs to used-vessel trading or insurance services.
"We expect blockchain technology to create a safer maritime and shipping ecosystem, and further to improve the quality of administrative services at inspection agencies as well as convenience for ship owners," said ICONLOOP CEO JH Kim. "Building on this platform, we 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 of blockchain."
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