Blockchain Lorawan Optimising Chain-of-Custody (BLOCC) - Stofl Limited

**Opportunity** - 80% of global shipping happens by sea. Valuable items are transported without any supervision other than by sparse onboard staff. Existing chain-of-custody solutions cannot provide the visibility/trust required to ensure assets have been transported without damage/tampering and have been proven ineffective.

**Vision** - BLOCC is a disruptive 21-month collaborative Industrial Research project by UK-based Micro-SME Stofl and Imperial College London which aims to revolutionise the chain-of-custody industry.

**Objectives** - BLOCC project will develop and test a prototype to prove effectiveness of a unique low-cost, long-range chain-of-custody solution combining LoRaWAN and blockchain.

**Innovation** - BLOCC will develop innovations including:

* **Proof-of-Custody Blockchain** - Proprietary proof-of-custody blockchain to maintain an immutable 'one version of truth' for real-world chain-of-custody data.
* **Blockchain Logistics Oracle** - Information on ship location derived from various publicly available and subscription services.

**Additionality** - The global maritime insurance industry is currently centred around London, however it is shifting to Asia. BLOCC will help maintain the UK's position as a maritime powerhouse, benefiting the UK economy and stimulating exports.