- Vechain token has had continuous bullish momentum in the last seven days.
- VeChainThor blockchain continued to grow quickly.
VechainThor blockchain teamed with Samsung Heavy Industries(SHI), the largest shipbuilders globally. The collaboration seeks to apply blockchain technology to its Samsung Autonomous Ship(SAS) project. It also implemented the technology to its SVESSEL eLogbook data streams on an operating vessel.
The world’s largest shipping industry classification society, DNV, disclosed the feat in a press release. The risk management body rewarded the first blockchain Statement of Fact (SOF) to SHI for accomplishing the feat.
As per DNV, the accomplishment exemplifies blockchain technology’s ability to be used for secure data stream applications on ships. DNV explains that heightened cybersecurity in the shipping industry is increasing the need for the shipping and offshore industries.
DNV notes, ‘ This is especially as the industry is becoming more digitized.’ The advancement leads to more digitization; shipping yards, manufacturers, shipping companies and class societies continuously develop and verify smart and autonomous ships.
According to the official website of DNV, it is noted that “The blockchain application for the SHI data stream pertains to Samsung Autonomous Ship’s navigation information, particularly the Collision Risk Index and Distance to the Closest Point of Approach. Also, the SVESSEL eLogbook satisfying IMO MEPC.312(74) were released via blockchain technology.”
Dr.Dong Yeon Lee, SHI Director of Ship and Offshore Research Institute, Vice President, spoke, “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. We are grateful for DNV’s cooperation and look forward to vitalizing blockchain technology as a new business in the future.”
Dr. Hyun Joe Kim, Vice President of SHI’s Ship and Offshore Performance Research Centre, stated, “We are delighted SHI has become the first shipyard certified by DNV to apply blockchain technology for its evolving SAS automatic navigation system and the digital asset management system of our SVESSEL eLogbook. We deeply appreciate DNV for their hard work in this collaborative research.” Hyun added, “This is only the beginning, but we are eager to demonstrate and verify blockchain technology as it impacts cybersecurity on real ships.”
DNV Regional Manager of Korea & Japan, Vidar Dolonen, stated his beliefs: “Blockchain technology is an essential requirement for future ships and to respond to upcoming maritime regulations. This collaboration with industry leaders has become a meaningful milestone in the digitization of ships and their safety, and we are proud to be part of it.”
The token of Vechain, VET prices have ascended for the past week in the bullish momentum. The volume records buyer dominance and a few sellers wishing to book profits amid the price rally. The price rose by nearly 19% in the past week while displaying buyer dominance in the market.