Toward a Greener Planet Through IoT JOI_20230426_eBook | Page 76

CONTENTS
1 Overview ........................................................................................................................ 72
1.1
Purpose ............................................................................................................................. 72
1.2
Structure ........................................................................................................................... 72
1.3
Introduction ...................................................................................................................... 73
2 Current Risk Management Procedures ............................................................................. 74
2.1
Boat Insurance .................................................................................................................. 74
2.2
Emergency Protocols ......................................................................................................... 77
3 Leveraging IoT and Blockchain technology ....................................................................... 77
3.1
Tools of the Trade .............................................................................................................. 77
3.1.1
Ahoy ................................................................................................................................... 78
3.1.2
Internet of Things ( IoT )...................................................................................................... 79
3.1.3
Distributed Ledger Technology ( DLT ) ................................................................................ 80
3.1.4
Blockchain .......................................................................................................................... 80
3.1.5
Non-Fungible Token ( NFT )................................................................................................. 81
3.1.6
Oracles ............................................................................................................................... 81
3.1.7
Smart Contracts ................................................................................................................. 82
3.2
Advanced Relocation of Vessels Use Case ........................................................................... 82
4 Additional Considerations ............................................................................................... 84
4.1
Measurable Benefits .......................................................................................................... 84
4.2
Challenges ......................................................................................................................... 85
4.3
Expansion .......................................................................................................................... 86
5 Conclusion ...................................................................................................................... 86 6 Acknowledgements ......................................................................................................... 87
FIGURES
Figure 1-1 : Path of Hurricane Ian across the Caribbean into Florida . Source : National Hurricane Center . 73
Figure 2-1 : A man takes photos of boats damaged by Hurricane Ian in Fort Myers , Florida , on September 29 , 2022 . Source : Giorgio Viera / AFP via Getty Images . ...................................................................... 76
Figure 3-1 : The Ahoy blockchain .................................................................................................................. 79
71