How SeafoodChain uses blockchain tech to provide transparency for seafood products
Norway-based technology company SeafoodChain has launched its Enterprise Blockchain platform. This Enterprise application has been built on the public permissionless blockchain-powered by UNISOT to provide global traceability, proof-of-quality, and product provenance across its seafood products.
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Consumers nowadays are becoming more conscious of where their food comes from and how it has been looked after on its way to their table. Regulators are becoming more demanding, too, requiring accurate, instant, and comprehensive information regarding food products and their history.
The seafood industry is one of the fastest-growing sectors in the global food market, as consumers turn to other sustainable sources of food. Current record keeping across today's seafood supply chains is time-consuming manual record-keeping -- making the ecosystem prone to errors.
With SeafoodChain, supply chain stakeholders can ensure products are compliant with legal regulations regarding the capturing and sharing of traceable information in the seafood industry. Real-time tracking of a product in a supply chain using blockchain technology also reduces the overall cost of moving items in a supply chain.
Seafood supply chains can be anything from a fisherman catching fish in the sea or the DNA history of the fish eggs in a fish hatchery, throughout the breeding cycle, feeding, environmental conditions, harvesting, processing, distributing, retailing, preparing, and recycling.
SeafoodChain claims to be unique in that it is building Enterprise applications on the blockchain using an ERP perspective using experience from ERP systems like SAP S4HANA and Microsoft Dynamics365. The technology is built on an open blockchain solution.
The system enables data capturing and monitoring from all parts of this supply chain -- from a fisherman's smartphone app or the extraction of data from fish egg production plant to automatic IoT sensors, ERP-plugins, big data analytics, and machine learning.
SeafoodChain provides solutions for the Seafood and Aquaculture industries to record and display insights into the complete supply chain. This provides transparency and enables supply chain partners and customers to make choices based on product authenticity, quality, and sustainability. The technology also makes it easy to comply with legal regulations and reporting.
It tracks products from the first raw product producers to the logistics, production distribution, and the end consumer. Each partner in the supply chain can provide and share detailed information -- leading to sustainable and eco-friendly choices. This results in minimizing waste and improves the use of valuable natural resources.
Consumers scan a QR code on a product to get information regarding its content, proof of journey, proof of origin or get suggestions on suitable recipes. Manufacturers can use this information to optimize manufacturing processes, increase quality, and strengthen the customer's connection to the product.
This opens direct communication between the catering industry and manufacturers, who receive feedback on product quality that the manufacturer can use to effectively optimize manufacturing and distribution processes.
Stephan Nilsson, CEO of UNISOT AS, has 20 years of experience developing value chain and ERP integration. He sees a revolution of opportunities with an open blockchain solution across enterprises.
Having stability, microtransaction capability, and low fees are necessary to power enterprise solutions that expect massive throughput. The immutable nature of blockchain technology in the supply chain is designed to establish trust and prevent tampering of data whilst supplying transparency for businesses.
Brand reputation and customer satisfaction are crucial for future global growth. I expect that more enterprises will be looking at blockchain technology to solve their scalability issues.
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