ICONLOOP Launches Blockchain-Based Ship Inspection Management Platform
- ICONLOOP launches blockchain-based ship inspection management platform
- Verification through blockchain keeps ship inspection information transparently recorded
- Linking information previously scattered across agencies enables convenient, systematic management and use
October 29, 2021, Seoul — ICONLOOP (CEO JH Kim), a leading Korean blockchain company, announced on the 29th that it is bringing its blockchain-based ship inspection management platform into full service to help secure maritime safety.
The platform was built on the basis of 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). As lead contractor, ICONLOOP planned and developed the ship inspection management platform, using its distinctive blockchain technology and NFTs to create a safer sailing environment for vessels.
The newly built blockchain-based ship inspection management platform is designed so that information on ship-related inspections — radio station licensing, radio station inspection, and the like — can be shared transparently among the Central Radio Management Service, the Korea Communications Agency (KCA), and Suhyup, the National Federation of Fisheries Cooperatives. First, verification through blockchain, a technology of trust, eliminates any possibility of forgery or alteration of ship inspection information at the source, allowing it to be stored transparently and securely. Second, by linking and systematically managing ship inspection information previously scattered across each agency, inspectors at every agency can check a vessel's inspection status and history in real time, making inspections faster and smoother.
In addition, an NFT (non-fungible token) is issued for each vessel, consolidating inspection and related records so they can accumulate continuously. This will establish an information base that can be used in a range of areas going forward, including ship transactions and insurance. An NFT assigns a unique identifying value to digital content using blockchain technology; on this platform, each vessel's ID is combined with its owner to issue an NFT proving ownership of the ship.
Using the blockchain-based ship inspection management platform requires signing up for Suhyup's Joeop Jeongbo Allimi (fishing operation information notifier) app. A ship NFT can be issued within the app, after which the systematic ship inspection management process proceeds in order: issuance of the radio station license, then issuance of the radio station inspection certificate.
New features have also been added to the Suhyup Joeop Jeongbo Allimi app that ship owners already use, improving convenience. An inspection renewal period alert helps owners complete ship-related inspections before going out to fish without missing the window, while an inspection result alert lets them check the outcome as soon as an inspection is complete.
"Agencies that recognize the potential of this project applying blockchain to ship inspection management are continuing to join," said ICONLOOP CEO JH Kim. "We will do our utmost to substantially improve convenience for ship owners and agency inspectors, together with the many client agencies that will raise the value of the platform."
Separately, to mark the start of the blockchain-based ship inspection management platform service, ICONLOOP is running an event for ship owners. Owners who issue an NFT for their vessel in the Suhyup Joeop Jeongbo Allimi app are entered into a draw for a fuel voucher worth KRW 50,000, and the event continues while supplies last. The Suhyup Joeop Jeongbo Allimi app can be downloaded by searching for Joeop Jeongbo Allimi on Google Play (Android) or the Apple App Store (iOS).
# # #
###