NYK developing its own digital currency to pay crew; App launched to aid seafarers

NYK developing its own digital currency to pay crew
Sam Chambers November 20th, 2018 https://splash247.com/nyk-developing-its-own-digital-currency-to-pay-crew/

Japan’s Nippon Yusen Kaisha (NYK) will soon introduce its own digital currency to pay its crew, Bloomberg is reporting. The digital currency will be pegged to the US dollar. Details of the new payment project such as whether it will use blockchain or be a cryptocurrency variant remain unknown at this stage.

NYK will debut the new currency in the first quarter of next year, and it will be carried out using smartphones, with a view to getting a patent on the technology in order to then offer the service to other owners and managers.

A number of third party tech providers are already offering online crew payments led by ShipMoney and OceanPay, but this initiative by NYK marks the first time Splash has heard of an owner issuing seafarer salaries via an in-house created digital currency.

App launched to aid seafarers
November 21, 2018 https://www.dawn.com/news/1446805/app-launched-to-aid-seafarers

KARACHI: A mobile phone application to help maritime communities was launched on Tuesday at a ceremony held at the Pakistan Maritime Security Agency (PMSA) headquarters.

Named AAS (Assistance Anytime Anywhere at Sea), the online application can be used to send emergency signals and location for immediate assistance anytime, anywhere within Pakistan’s territorial waters.

The application is available in Urdu, English, Sindhi and Balochi languages.

“Fishermen communities are an asset for the country gifted with best marine natural resources. One of the PMSA’s top priority areas is to protect and provide assistance to fishermen and their vessels at sea,” said Vice Chief of the Naval Staff Vice Admiral Kaleem Shaukat, the chief guest, during his address at the event.

He congratulated the PMSA and the Pakistan Navy for making the software and requested the fishermen communities to cooperate with PMSA and make the best use of the new application.

Earlier, Rear Admiral Zaka-ur-Rehman, the PMSA director general, highlighted the services of the security agency during his welcome address.

“The PMSA being the sole law enforcement agency at sea in the country is responsible for search and rescue operation of an area of 840 NM from Pakistan coast to the deep sea. It round-the-clock maintains maritime rescue coordination centre and disaster response centre to respond to any emergency at sea,” he said.

The newly introduced application would help fishermen facing any problem at sea, he added.

Senior fishery officials from Sindh and Balochistan, representatives of fishing communities and flag officers also attended the programme.

Published in Dawn, November 21st, 2018