Singapore Shipping Association will use blockchain for ship registration

The Singapore Shipping Association (SSA), the International Chamber of Commerce (ICC) and the blockchain company Perlin are collaborating on the electronic registration of the ship registration and renewal process. According to reports, the International Ship Electronic Registration System (IERS) is based on Perlin's Wavelet, an open ledger for writing decentralized WebAssembly applications. The electronic registration system is said to reduce time, cost and errors in the registration process. The initiative is favored by the Singapore Maritime and Port Authority, which is testing the registration process for the system. If the system proves to be successful in Singapore, then the International Chamber of Commerce will try to adopt the IERS standard on a global scale.