The U.S. seafood trade association National Fisheries Institute (NFI) is working with IBM’s blockchain supply chain solution Food Trust to trace seafood.
According to the report, this is the first effort to track multiple seafood species jointly pursued by multiple companies. Furthermore, NFI members representing harvesters, importers, processor, cold storage, foodservice restaurant and retails are all reportedly involved in the program.
According to the press release, the project has been funded by the Seafood Industry Research Fund (SIRF).
“Traceability is nothing new to the seafood community but blockchain is. Whether it is farmed or wild, we will test how IBM’s Food Trust can help seafood businesses generate revenue and reduce costs, from harvest to distribution to our customers,” said Sean O’Scannlain, SIRF chairman and CEO at Fortune Fish & Gourmet.
IBM’s system ensures companies can set rules about who can see the data they upload and for how long and that they maintain control of their data even after it has been uploaded to Food Trust.
“Blockchain technology has the potential to transform any industry, especially when we have multi-stakeholder environments, businesses and organizations participating,” said Raj Rao, general manager, IBM Food Trust. “Blockchain can digitize information, capture it in a decentralized system and convey it in a secure way and allows for permissioned viewing rights. We are delighted to work closely with NFI, and the seafood industry in this pioneering endeavor,” Rao went on.
NFI and SIRF hope the new technology will help increase transparency, optimize supply chain processes and combat fraud.
