The National Fisheries Institute (NFI) has begun utilizing IBM's blockchain ledger, Food Trust, to create a comprehensive seafood supply chain traceability pilot program. The test is the first multi-company and seafood species effort.
"We are excited that NFI and the real seafood value chain will test IBM's technology," says NFI president John Connelly. "NFI members' supply chains are dynamic and wide reaching, a fertile ground for this type of pilot."
The Food Trust platform allows companies to set rules about who can see the data they upload and for how long. In addition, companies maintain control of their data even after it has been uploaded to the ledger.
"Blockchain technology has the potential to transform any industry, especially when we have multi-stakeholder environments, businesses and organizations participating,” says 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.”
The pilot will receive financial support from the Seafood Industry Research Fund. NFI and SIRF hope the new technology will help increase transparency, optimize supply chain processes and combat fraud.