Signal 2: Using Blockchain to Combat Fraud in the Seafood Industry
In a 2016 report, Oceana discovered that as much as 20% of seafood is incorrectly labelled in the US. Unbeknownst to patrons, a cheaper farmed salmon often masquerades as the wild salmon on the entree. Fraud in the seafood industry can, therefore, have deleterious consequences on the global health, economy and conservation efforts.
Blockchain technology can potentially tackle the problem of mislabelling by providing a detailed, immutable record of information about the fish through its entire cycle from harvesting to consumption. In 2017, Intel demonstrated how Hyperledger Sawtooth could facilitate seafood traceability through sensors deployed to track the fish’s location, temperature, and other characteristics as it moved from boat to restaurant.
Successful integration of blockchain technology in the transportation and logistics industry will improve transparency between suppliers(fishermen) and service providers(restaurants). Consumers will have access to accurate information about the products they are being served without worrying about the potential health hazards of eating inferior seafood delicacies.
A potential roadblock could be getting all the stakeholders involved on board the blockchain technology. They can be incentivised to provide this valuable data to those at the end of the supply chain. What remains to be seen is if it can be successfully implemented at scale.
REFERENCES:
(1) https://futurism.com/blockchain-restaurant-seafood-industry/
