Leveraging IoT and Blockchain Technology
the day the digital systems finalize and then transition instantly and seamlessly into the smart contract model .
Practical challenges specific to Ahoy include obtaining funding for initial startup costs as well as finalizing parameters that will seek to measure and guarantee insurance services for forces of nature as tracked by decentralized applications .
In spite of these difficulties , Ahoy is actively monitoring and evaluating feasible , scalable solutions in the multi-chain space as protocol develops . The benefits Ahoy has to offer far outweigh the work required to implement its applications .
While this article explores Ahoy ’ s ability to automate risk management for nautical vessels , it is worthwhile to explore positive ramifications beyond this service . Improvements that will be made over time to the boat asset data layer will allow development in other directions . Applications for nautical supply chain management , long-term leasing , slip renting , property transfer , and even fractional ownership will allow Ahoy to act as a “ mothership ” of remunerative transformation for the future of the boating industry .
Additionally , national weather services and weather forecasting models will benefit from the multiple points of data that Ahoy will inadvertently provide for tracking and recording weather data .
As the world ’ s current economic and legal systems adjust to automated systems , Ahoy ’ s smart contracts will model a payment structure that can develop consumer trust and confidence in the IoTeX ecosystem .
The climate experts at the National Oceanic and Atmospheric Administration ( NOAA ) continue to predict active Atlantic hurricane seasons in the coming years . Therefore , boaters in hurricaneprone regions need to take more measurable steps to keep their vessels out of harm ' s way so that they do not end up adding to the devastation communities and the environment experience after such storms .
To help , Ahoy has designed smart contract protocols leveraging verifiable data that can systematically manage boating assets to bring about more desirable outcomes when faced with extreme weather events . Ahoy is a boating-asset-centered , contributor-focused , consumerdriven platform designed to preserve and enhance the boating ecosystem . It is growing to become a single source of truth for worldwide marine management that will lower costs , eliminate systematic risks , and create transparency .
86 April 2023