In a significant stride towards greening the maritime industry, a novel approach has been developed to evaluate the suitability of maritime routes for implementing blockchain technology in green supply chain management. The research, led by Amir Karbassi Yazdi from the Department of Industrial and Systems Engineering at the University of Tarapacá in Chile, and published in the journal ‘Mathematics’ (translated from Spanish), offers a fresh perspective on overcoming barriers to blockchain adoption in the maritime sector.
The study identifies nine key barriers to blockchain implementation, with transaction-level uncertainty, technology risks, and higher sustainability costs emerging as the most critical. To tackle these challenges, the researchers propose an innovative method that integrates extended grey relational analysis (GRA), SWARA (Stepwise Weight Assessment Ratio Analysis), and ARAS (Additive Ratio Assessment) methods under Z-information. This approach allows for a comprehensive evaluation of maritime routes, considering the independence of criteria and expert judgments in uncertain decision-making contexts.
Karbassi Yazdi explains, “Our proposed approach performs a multi-criteria decision-making (MCDM) evaluation on a case study of four maritime lines. The extended GRA offers a distribution-free overall independence index for each criterion based on pattern similarity, ensuring the assumption of criterion independence in most MCDM methods.”
The commercial impacts of this research are substantial. By providing a computationally efficient and tractable framework, maritime managers can make informed decisions about blockchain adoption to promote green supply chains. This can lead to enhanced operational traceability, transparency, and trust, as well as advanced greening initiatives.
The study also highlights the potential for significant cost savings and risk mitigation. As Karbassi Yazdi notes, “Results show that transaction-level uncertainty is the most critical barrier to blockchain adoption, followed by technology risks and higher sustainability costs.” By addressing these barriers, maritime companies can unlock new opportunities for growth and sustainability.
Moreover, the research underscores the importance of expert judgments in highly uncertain decision-making contexts. The integration of SWARA and ARAS methods under Z-information ensures that the evaluation process is robust and reliable, even in the face of uncertainty.
In conclusion, this groundbreaking research offers a valuable tool for maritime professionals seeking to harness the power of blockchain technology for green supply chain management. By providing a clear and comprehensive evaluation framework, the study paves the way for a more sustainable and transparent maritime industry.