Risk identification and modeling for blockchain-enabled container shipping
International Journal of Physical Distribution & Logistics Management
ISSN: 0960-0035
Article publication date: 22 August 2020
Issue publication date: 6 March 2021
Abstract
Purpose
Although being considered for adoption by stakeholders in container shipping, application of blockchain is hindered by different factors. This paper investigates the potential operational risks of blockchain-integrated container shipping systems as one of such barriers.
Design/methodology/approach
Literature review is employed as the method of risk identification. Scientific articles, special institutional reports and publications of blockchain solution providers were included in an inclusive qualitative analysis. A directed acyclic graph (DAG) was constructed and analyzed based on network topological metrics.
Findings
Twenty-eight potential risks and 47 connections were identified in three groups of initiative, transitional and sequel. The DAG analysis results reflect a relatively well-connected network of identified hazardous events (HEs), suggesting the pervasiveness of information risks and various multiple-event risk scenarios. The criticality of the connected systems' security and information accuracy are also indicated.
Originality/value
This paper indicates the changes of container shipping operational risk in the process of blockchain integration by using updated data. It creates awareness of the emerging risks, provides their insights and establishes the basis for further research.
Keywords
Acknowledgements
The authors are grateful to the editors of this special issue and three anonymous reviewers for their valuable comments and suggestions for the early versions of this manuscript. This study is funded by the Tasmania Graduate Research Scholarship, iMOVE CRC and supported by the Cooperative Research Centres program, an Australian Government initiative.
Citation
Nguyen, S., Chen, P.S.-L. and Du, Y. (2021), "Risk identification and modeling for blockchain-enabled container shipping", International Journal of Physical Distribution & Logistics Management, Vol. 51 No. 2, pp. 126-148. https://doi.org/10.1108/IJPDLM-01-2020-0036
Publisher
:Emerald Publishing Limited
Copyright © 2020, Emerald Publishing Limited