Lloyd's Register Foundation in Maritime Blockchain Labs initiative

MARCH 22, 2018 — Lloyd's Register Foundation and Copenhagen headquartered Blockchain Labs for Open Collaboration (BLOC) have announced a funding partnership to set up Maritime Blockchain Labs (MBL).

MBL will explore the use of blockchain for the assurance and safety of critical infrastructure and drive new business models for the global maritime industry.

The foundation is one of the founding members and lead funder of the initiative. Over the next 18 months, the collaboration will provide resources for Maritime Blockchain Labs to pursue three demonstrator projects focused on aspects of risk and safety where distributed systems can enable breakthrough solutions.

Deanna MacDonald, CEO, BLOC, said: "We are delighted to have the backing and support of the Lloyd's Register Foundation. They share with us, the belief in the importance of BLOC's mission: to apply blockchain to real-world problems, with the aim of building secure and accessible global digital infrastructure for maritime, a sector where distributed systems offer so many opportunities for impactful advancement.

"Our objectives are twofold: to get real-world applications on the ground as soon as possible, and to share knowledge and methodologies among users. Blockchain is fundamentally a collaborative technology and will only truly transform the industry if we are all working from the same, or interlinked, systems, rather than competing."

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