(BLOC) Blockchain Labs for Open Collaboration Projects

BLOC is a leading provider of solutions based on the blockchain. BLOC strives to be a ledger in trust-based transactions and distributed ledgers. They offer solutions such as accountability, transparency, anti-trust, regulatory solutions, and security. The goal of BLOC is to solve all issues that undermine inclusivity and trust in the society.

BLOC offers various expert services and solutions, which include technical and non-technical education, research, the framing of pressing issues, and expert consulting services. They achieve these by connecting problem holders to industry players and solution creators. Additionally, they accelerate proofs-of-concept in prototyping labs that they run and ensure they get to the end users.

Current maritime projects include a single window blockchain system for ports and blockchain base emission and CO2 trading and tracking systems.

BLOC Partnership With LR Foundation

The Lloyd’s register Foundation recently announced that it had partnered with BLOC to establish a maritime Blockchain lab. The foundation is going to provide funds, which BLOC will use to perform three projects on a demonstrator basis. BLOC will also build a collaborative network, which will explore the application of the blockchain in maritime safety and risk.

The announcement made by LR and BLOC said that the two companies would set up Maritime Blockchain Labs (MBL). This lab is going to explore and drive new models of business for the maritime industry globally.

LR is a founding member and main funder of this project. Over the coming 18 months, the partnership will offer resources to the MLB to pursue three projects on a demonstrator basis. These projects will focus on risk and safety. They will explore how the blockchain can offer solutions.

Besides that, MBL will have the objective of establishing an ecosystem within the maritime industry, which will foster collaboration and innovation between those in the world of blockchain and industry players.

BLOC was created to be able to drive and deliver through leadership, capacity building, rapid prototyping, and open and collaborative research and development within the carbon markets, energy sector, and the maritime sector.

BLOC and LR Collaboration Objectives

The CEO of BLOC, Deanna MacDonald said that BLOC was delighted to have the support of LR in this project. The CEO said that LR shared the belief that BLOC’s mission of applying the blockchain to real-world issues was important.

The BLOC CEO added that their objective was twofold. Firstly, they needed to get the real-world applications on the ground running as fast as possible. They also needed to share the knowledge and methodologies amongst various users. The CEO added that blockchain, at its core, was a collaborative technology. Thus, it would only revolutionize the maritime sector if everyone was to work in the same interlinked systems instead of trying to compete with each other.

MacDonald added that the three demonstrative projects being carried out would build, apply, and model the use of the blockchain to have a real impact and enhance safety at sea. The CEO added that this project would serve as an example, which would be shared with the community.

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