This week, we speak with Co-founder of Proa Technology, Darren Koh, who is also on the Board of Advisors for BlocBox to gather his insights on the project.
What did you see in BlocBox that made you decide to join the advisory board?
Darren: Blocbox is a very progressive and intuitive project that is very aligned to my own aspirations of the outlook of the maritime ecosystem. The problems that BlocBox addresses are also exactly what majority of ports are aiming to alleviate. As a technopreneur in the maritime industry myself, I recognise that the potential for Blocbox to become an international standard in the industry is immense. The sealing factor was the innovative attitude that BlocBox brought to the table, and it is the same attitude that I take with my own company Proa. We build maritime solutions that will optimise how many companies handle their daily activities. By injecting industry 4.0 into these operations, Proa enables traditional companies to become more digitally savvy.
What do you think are the key strengths/advantages of BlocBox?
Darren: BlocBox is tackling an often overlooked aspect of seafarers, affordable entertainment to distract from homesickness. Addressing this niche is both advantageous and empathetic and will enable many seafarers to feel at home away from home. The blockchain is also an impressive solution that the maritime payments sector could do with due to the transparency and efficacy of the technology.
What were some challenges faced by BlocBox and how have they strategically overcome them?
Darren: Through strategic partnerships with large notable shipping companies, BloxBox has overcome a key issue in the industry, the inability to adapt to new technology. This strategic partnership with Proa will also strengthen the quality of data collected from downstream port activity and will allow for the improvements of many upstream coordinated activities to follow.
How do you think BlocBox will shape the future of the maritime industry?
Darren: The growing trend of digitalisation and blockchain has been greatly considered by MPA and many other ports.
By capitalising on this, BlocBox will allow for many ship owners alike to benefit from this cost-effective solution. Through its adoption, redundancies in the payment process will also be minimised.
What are the most exciting developments you’re looking forward to see from BlocBox in the upcoming months?
Darren: Currently, BlocBox is going through an initial exchange offering at an impressive exchange. I am eager to see how that success will translate in the BlocBox proof of concept and also satellite product. I am also looking forward into the integration of BLX tokens into Proa’s algorithm to allow for our users to also leverage on the blockchain.