Blockchain Technology Makes Splash in Seafood Industry
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Blockchain is the hottest technology in the world right now with cryptocurrencies leading the way with outrageous returns. However, blockchain is much more than cryptocurrencies. It is a new technology for a distributed ledger of transactions called blocks that are linked and secured through cryptography. The seafood industry appears to be the first to take a leap in utilizing the technology in the food industry.
How is Blockchain being used with Seafood?
Many times when consumers buy seafood, they wonder if this is really wild? Viant and the World Wild Fund have developed a blockchain certification system to offer consumers a way to track a fish’s history from the ocean to the table. Fish are tagged with a QR code when caught, so that information is then logged into Viant’s system. From the fishing net to the market, information on the fish’s journey is added. As mentioned above, blockchain technology is tamper-proof, but Viant’s seafood blockchain will allow participants to choose what they want to upload and how they want the product tracked.
Traceability and Transparency Leading Factors for Blockchain in Food Industry
Retailers are working with food brands to develop blockchain ledgers for a variety of products. Currently, Wal-Mart is the only retailer testing traceability systems with their first tests happening in late 2017. Consumers are driving food brands and retailers to provide more transparency and traceability into where their food comes from in the world. This new technology seems to be able to give help to brands and retailers as they reformulate products and open up their supply chain to consumers. However, they will guard this supply chain information from their competitors, so don’t expect too much insight.
This is just the beginning of the blockchain wave, but it appears it may be catching on with the food industry in 2018.
Inspired by www.fooddive.com
