EMAC holds seminar on shipping blockchain technologies

DUBAI, (Pakistan Point News - 15th Oct, 2018) The Emirates Maritime Arbitration Centre, EMAC, has continued bringing the maritime community together in its monthly breakfast seminars to discuss legal concerns within the maritime industry. The latest seminar, entitled 'Shipping and Technology – Blockchain and Beyond', focused on maritime electronic platforms, automation, smart contracts, internet of Things and Artificial Intelligence.

"Clearly the shipping industry is receptive to new innovation. While frontier technologies may see the majority of the industry being reticent about mass adoption, shipping companies need to have a watching brief as technology develops, improving efficiencies and cutting costs on a more scalable basis. While most need not be at the forefront of technology development, ignoring technological advancement will have a significant cost at a time where people cannot afford to lag behind their competitors," David Galea of Partner of Ince and Co.

said.

"At EMAC we keep up with key discussions that are taking place within the maritime sector. Technology is advancing and even at EMAC, we are developing an e-arbitration system to support a paperless process", said Majid Obaid bin Bashir, Vice Chairman and Secretary-General at EMAC. "It is interesting to see how technology is embraced by the industry and to better understand what this means in the industry for the future."

EMAC continues its breakfast seminars throughout the year, with the next session scheduled for 11th November as the first seminar to kick-start the Dubai Arbitration Week 2018.