costs by 20%, saving USD 27 billion annually in the transportation process between East Africa and Europe. Additionally, the data stored on the blockchain cannot be modified, as it is managed transparently without tampering [4]. By using a blockchain, fraud issues prevalent in existing systems, such as information forgery or theft, can be greatly reduced [5]. Blockchain-enabled smart contracts automatically facilitate transactions upon meeting the predetermined conditions, simplifying and expediting traditionally complex transaction processes. In addition to facilitating transactions, blockchain's decentralized system ensures data is immutable and highly secure. When combined with other 4 th Industrial Revolution technologies like IoT and AI, the future of the logistics industry will transform towards being more intelligent and sophisticated [6]. Many processes, from customs clearance and payment processing to cargo verification and validation, can be automated. AI technologies can be applied to forecast potential disruptions, optimize routes, and reduce delays, while real-time tracking data can be securely logged [7]. Blockchain combined with AI will reduce unnecessary time and costs, ensuring transparency and trust across the entire supply chain. Furthermore, the adoption of blockchain in maritime trade also contributes to environmental sustainability by reducing paperwork and incentivizing green processes, leading to lower CO2 emissions [8]. As blockchain technologies become more adopted, it could also lead to global standardization in logistics operations, making the industry more efficient and environmentally friendly [9; 10]. Blockchain technologies have been successfully applied in a variety of industries. As illustrated in Figure 1, the leading sectors include finance, healthcare, government, retail, manufacturing, etc. Blockchain can revolutionize the financial sector by improving legacy workflows and transparency, reducing fraud and facilitating cross-border payments [11]. For healthcare services, blockchain technologies can improve patient data management, enable efficient clinical trials and drug traceability, and support personalized medicine [12; 13] etc. Blockchain technologies can also enhance public services, facilitating identity and asset management and improving data security and procurement processes [14; 15]. For retail and manufacturing, blockchain solutions can improve supply chain transparency, facilitate inventory management, enhance quality control and customer trust [16] etc. However, the prevalent adoption of blockchain still faces challenges, including the lack of standard development tools, diverse definitions and implementations, immature technology, resistance to change within corporations, specific enterprise needs, regulatory and legal hurdles, and unclear return on investments [17]. The current shipping processes are illustrated in Figure 2. The movement of goods from the exporter to the importer involves numerous procedures and intermediaries. It begins with the exporter and involves export freight forwarders managing logistics, documentation, transport booking, etc. The goods pass through export customs to ensure compliance with export regulations before moving via inland transport to the export port. Here, a carrier, typically a shipping or logistics company, transports the goods internationally to the import port. Upon arrival at the destination port, the goods clear import customs  
Figure 1: Excellent Application Verticals of Blockchain Technologies. where regulations and tariffs are assessed. Then, followed by import freight forwarders who facilitate the final logistics, such as inland transport to the importer. Services supporting entities in this process include insurance companies (to cover potential loss or damage), financial institutions (to handle payments and trade finance), and legal and regulatory authorities (to enforce trade regulations and compliance).