• Classification body DNV awards SHI and VeChainThor project first-ever blockchain SoF award. 
• The recognition comes on the back of SHI and VeChainThor deploying the first blockchain-powered shipping cybersecurity product. 

Samsung Heavy Industries (SHI), one of the largest shipbuilders in the world, partnered with the VeChainThor blockchain. The partnership sees SHI apply blockchain technology to its own Samsung Autonomous Ship (SAS) project. It also applied the technology to its SVESSEL eLogbook data streams on an operating vessel.

DNV, the world’s largest shipping industry classification society, disclosed the feat in a press release. The risk management body also awarded SHI with the first blockchain Statement of Fact (SoF) for achieving the feat.

According to DNV, the accomplishment demonstrates the potential of blockchain technology to be used for secure data stream applications on ships. DNV explains that strengthening cybersecurity in the shipping industry is a rising need of the shipping and offshore industry.

‘This is especially as the industry becomes more digitized’, it adds. With more digitization, shipping yards, shipping companies, manufacturers, and class societies are actively developing and verifying smart and autonomous ships.

In particular, the SHI and VeChainThor project pertains to SHI’s SAS Collision Risk Index and Distance to the Closest Point of Approach navigation information. It also released the SVESSEL eLogbook satisfying IMO MEPC.312(74) via blockchain technology.

The maritime industry is paying attention to cybersecurity as another key to the digital revolution of ships. Blockchain technology is ground-breaking in data security for autonomous ships,

SHI’s Director of Ship and Offshore Research Institute, Vice President Dong Yeon Lee, said in a statement.

Hyun Joe Kim, Vice President of SHI’s Ship and Offshore Performance Research Centre, also remarked on the recognition from DNV. During the award ceremony held at SHI’s Daejeon R&D Center, he stated that the project is only the beginning.

“This is only the beginning, but we are eager to demonstrate and verify blockchain technology as it impacts cybersecurity on real ships,” he said.

VET poised to surge on the back of VeChain multiple partnerships

VeChainThor’s partnership with SHI makes it the blockchain the first to find a use case in ship cybersecurity. However, it is not the first time the lightweight and sustainable blockchain has made an impact in mainstream industries.

Previously, the Central Committee of the Communist Party of China highlighted VeChain’s role in revolutionizing the beer brewing industry. The report noted that VeChain’s sustainable carbon management solution can quantify the environmental protection behavior of each stage of the beer production chain.

VET, the native token of the ecosystem, currently trades at $0.0186, up 0.54% in the last 24 hours. However, the price may see new highs soon as the VeChainThor blockchain gets even more adoption.

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