Leveraging IoT and Blockchain Technology
The obvious shortcomings of the current boat insurance systems within an extensive disaster scenario should lead us to ask what , if any , preventative actions could occur prior to a pending storm . While lists of such actions do exist in the form of suggested and mandated emergency protocols , they are not sufficient to prevent property damage and insurance claims .
The National Boat Owner ’ s Association ( NBOA ), for instance , has an entire list of hurricane preparations for boat owners . These include developing a detailed plan of action to secure the boat at its home port . Assembling suggested supplies and learning to use them in advance of an event . Alternatively , making plans to physically relocate the boat to a previously identified boat refuge . However , if you , as the owner , are not readily available , then arranging for a capable individual to carry out emergency plans is your final option . NBOA also recommends maintaining photo or video records of all valuable items onboard and carrying important telephone numbers of appropriate authorities . 9
As valuable as these suggestions from the NBOA may seem on paper , these suggested or mandated policies are not assuredly feasible during times of disaster . Hauling one boat can require multiple contracts , rental agreements , lease agreements , plans with marinas , and involvement with insurance companies . The boat ’ s owner , a friend , or a family member may not be available to move the boat even if the necessary paperwork is in place . Even if a boat is transferred , there is no guarantee that the receiving marina will have enough space to shelter it or that the boat will survive collisions with other boats in the case of congested waterways . The stress of coordinating detailed emergency plan logistics and the meticulous record-keeping they require may deter individuals from becoming responsible boat owners in the first place . Most importantly , even the best tips for placing lines , tying storm-worthy knots , and running automatic bilge pumps cannot forestall the destruction caused by storms of Hurricane Ian ’ s caliber .
Emergency protocols and insurance policies have sufficed as the “ best practice ” for nautical vessel risk management for past generations , but they are not necessarily the best methods for the present day . Technological advancements exist that could help prevent Hurricane Ian-level damage to nautical vessels in the future .
To understand Ahoy ’ s potential to leverage IoT and blockchain to automate risk management for nautical vessels , we must first understand the relationships between the technologies it uses .
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Journal of Innovation 77