The (non-)application of blockchain technology in the Greek shipping industry

The implementation of blockchain technology (BCT) is gaining traction in supply chain networks, revolutionising the operation of contemporary supply chains and reshaping the potential of business relationships. Empirical studies on blockchain adoption are scant because implementation across networks is in fairly early phase of development, yet evidence from empirical studies is highly desirable. This is one of the first studies of blockchain adoption in the Greek shipping industry, which has not so far been examined by the literature, in direct comparison to early adopters in other European countries such as Norway. The research examined eight Greek shipping companies using workshops with experienced supply chain personnel. Qualitative analysis identified the current position of these organisations in terms of blockchain adoption, by considering possible benefits and inhibitors to implementation. Despite benefits of automated processes and reduced paperwork as a result of smart contracts, findings show a reluctance to adopt BCT. That is, enterprise resource planning (ERP) transformations have left organisations fatigued and disinclined towards further systems development and resistant to subsequent change. Also, the exposure of shared information in the shipping nexus is considered to cause a threat to competitive survival. (C) 2020 Elsevier Ltd. All rights reserved.