infrastructure is separable from the contractual aspect of the transaction, the smart
contract will essentially operate as an implementation device under which once there
is compliance with the terms of the contract by one party, there will be automatic
performance by the other.
Whether such a proposition is achievable in practice is a big question mark which
only the technology pundits can answer perhaps with help from the maritime legal
community. In the opinion of the present author, whether this is inevitable or is likely
to happen or will fail entirely, only time will tell.
References
Au S, Power T (2018) Tokenomics: The crypto shift of blockchains, ICOs, and tokens. Packt
Publishing, Birmingham
Aziz (7 August 2017) Differences between cryptocurrency coins and tokens. https://
masterthecrypto.com/differences-between-cryptocurrency-coins-and-tokens/
Bashir I (2018) Mastering blockchain: distributed ledger technology, decentralization, and mart
contracts explained, 2nd edn. Packt Publishing, Birmingham
Dromgoole S, Baatz Y (1998) The bill of lading as a document of title. In: McKendrick P
(ed) Interests in goods, 2nd edn. London, LLP
Iansiti M, Lakhani KR (2017) The truth about blockchain technology. Harv Bus Rev 95:118–127.
https://hbr.org/2017/01/the-truth-about-blockchain
Kinthaert L (2016) Could blockchain be the shipping industry’s life jacket?, https://knect365.com/
shipping/article/6a6fa749-c53f-448d-9036-4f130b062451/could-blockchain-be-the-shippingindustrys-life-jacket
Lin M (21 November 2017) Blockchain for shipping and logistics. PPT presented at Blockchain for
Shipping & Logistics Seminar, Hong Kong. https://www.hkmw.hk/hkmw2017/pdf/publication/
blockchain-shipping-and-logistics-resentation-sli.pdf
McKeon S (2 August 2018) What is a Blockchain Token, The Conversation. https://
theconversation.com/what-is-a-blockchain-token-98916
McKinlay J, Pithouse D, McGonagle J, Sunders J (2 February 2018) Blockchain: background,
challenges and legal issues, DLA Piper. https://www.dlapiper.com/en/denmark/insights/publi
cations/2017/06/blockchain-background-challenges-legal-issues/
Ong E (August 2018) Blockchain bills of lading, CML Working Paper Series, No 18/07. http://law.
nus.edu.sg/cml/wps.html
Russ B, Water J (July 2018) Blockchain – The answer to all your problems?, INCE & CO Shipping
E-BRIEF.
https://www.incegdlaw.com/en/documents/pdf-library/shipping/shipping-e-briefjune-2018.pdf
Sanders v. Maclean (1883) 11 QBD 327
Takahashi K (2016) Blockchain technology and electronic bills of lading. J Int Maritime Law 22
(3):202–211
Tapscott D, Tapscott A (June 2017) Realizing the potential of blockchain: a multi-stakeholder
approach to the Stewardship of Blockchain and Cryptocurrencies. World Economic Forum
White Paper. http://www3.weforum.org/docs/WEF_Realizing_Potential_Blockchain.pdf
Tricoli A (1 March 2018) Legal considerations on blockchain-based bill of lading. https://
fichtelegal.com/news/legal-considerations-blockchain-based-bills-lading/
UN General Assembly (2011) Legal issues relating to the use of electronic transferable records,
Report of United Nations Commission on International Trade Law Working Group IV (Electronic Commerce), Forty-fifth session, Vienna, 10–14 October 2011, A/CN.9/WG.IV/WP.115,
2011
434
H. Liu
contract will essentially operate as an implementation device under which once there
is compliance with the terms of the contract by one party, there will be automatic
performance by the other.
Whether such a proposition is achievable in practice is a big question mark which
only the technology pundits can answer perhaps with help from the maritime legal
community. In the opinion of the present author, whether this is inevitable or is likely
to happen or will fail entirely, only time will tell.
References
Au S, Power T (2018) Tokenomics: The crypto shift of blockchains, ICOs, and tokens. Packt
Publishing, Birmingham
Aziz (7 August 2017) Differences between cryptocurrency coins and tokens. https://
masterthecrypto.com/differences-between-cryptocurrency-coins-and-tokens/
Bashir I (2018) Mastering blockchain: distributed ledger technology, decentralization, and mart
contracts explained, 2nd edn. Packt Publishing, Birmingham
Dromgoole S, Baatz Y (1998) The bill of lading as a document of title. In: McKendrick P
(ed) Interests in goods, 2nd edn. London, LLP
Iansiti M, Lakhani KR (2017) The truth about blockchain technology. Harv Bus Rev 95:118–127.
https://hbr.org/2017/01/the-truth-about-blockchain
Kinthaert L (2016) Could blockchain be the shipping industry’s life jacket?, https://knect365.com/
shipping/article/6a6fa749-c53f-448d-9036-4f130b062451/could-blockchain-be-the-shippingindustrys-life-jacket
Lin M (21 November 2017) Blockchain for shipping and logistics. PPT presented at Blockchain for
Shipping & Logistics Seminar, Hong Kong. https://www.hkmw.hk/hkmw2017/pdf/publication/
blockchain-shipping-and-logistics-resentation-sli.pdf
McKeon S (2 August 2018) What is a Blockchain Token, The Conversation. https://
theconversation.com/what-is-a-blockchain-token-98916
McKinlay J, Pithouse D, McGonagle J, Sunders J (2 February 2018) Blockchain: background,
challenges and legal issues, DLA Piper. https://www.dlapiper.com/en/denmark/insights/publi
cations/2017/06/blockchain-background-challenges-legal-issues/
Ong E (August 2018) Blockchain bills of lading, CML Working Paper Series, No 18/07. http://law.
nus.edu.sg/cml/wps.html
Russ B, Water J (July 2018) Blockchain – The answer to all your problems?, INCE & CO Shipping
E-BRIEF.
https://www.incegdlaw.com/en/documents/pdf-library/shipping/shipping-e-briefjune-2018.pdf
Sanders v. Maclean (1883) 11 QBD 327
Takahashi K (2016) Blockchain technology and electronic bills of lading. J Int Maritime Law 22
(3):202–211
Tapscott D, Tapscott A (June 2017) Realizing the potential of blockchain: a multi-stakeholder
approach to the Stewardship of Blockchain and Cryptocurrencies. World Economic Forum
White Paper. http://www3.weforum.org/docs/WEF_Realizing_Potential_Blockchain.pdf
Tricoli A (1 March 2018) Legal considerations on blockchain-based bill of lading. https://
fichtelegal.com/news/legal-considerations-blockchain-based-bills-lading/
UN General Assembly (2011) Legal issues relating to the use of electronic transferable records,
Report of United Nations Commission on International Trade Law Working Group IV (Electronic Commerce), Forty-fifth session, Vienna, 10–14 October 2011, A/CN.9/WG.IV/WP.115,
2011
434
H. Liu