Blockchain in Aquaculture and Fisheries of Seafood Industry

A blockchain startup company aims to establish a global decentralized database for a safe and sustainable future for the early seafood industry. Blockchain’s opening, “Fishcoin”, is auctioned to keep the seafood industry consistent through an incentive and decentralized world database. This will improve resource management.

FAO Report:

According to the United Nations Food and Agriculture Organization (FAO), Global Fish Production has hit 171 million tons in 2016, 88 percent for human consumption. FAO estimates that by 2030, global fish consumption will be 20 percent higher than 2016 levels. Fishshine and many other prominent scientific agencies believe that this can lead to one of the most valuable industries on the planet. It drops to the weight of its own growth.

That’s why lending is a key partner in their cooperation with Fishcoin. This makes acceleration of the move towards the more sustainable seafood production of the Unified World Food Program’s SDG2 Advocacy Hub. The Fitcoin Project proposes to acquire a Wikipedia project and uses decentralized ledger technology. Fishcoin’s white-colored white farming industries argue that the data is used to increase “efficiency and innovation”, and behind this concept and behind the development of this seafood.

Fishcoin Token:

According to the organization, through the novel Blackchain system, the marine industry is encouraged to collect and input data in each chain. Later, the entire industry can benefit from a healthy data ecosystem suitable for a healthy ecosystem. Incentives are provided in the form of “Fishcoin Token”.

The first recipient of the supply chain is from the producer of seafood. The name, location, type of fish, such as weight and key data elements have been approved and accepted by both parties. A good deal will be made. The product information is referred in Blockchain along with identities of the parties. The producer will receive their tokens.

Tokens can be converted into mobile airtime tapes with other promotional options in the future. Data collected on transparent and recognizable network increases. Resources are better maintained and can be improved at all levels. It includes the production and capacity of marine food products. Fishcoin believes it will lead to a more “sustainable, responsible, profitable” fisheries industry.

Global Seafood Workforce:

Fishcoin also plans to have a direct impact on the global seafood workforce. FAO’s research estimates that nearly 60 million people around the world are directly employed by fisheries or fisheries. Additionally, Secretary General of the United Nations Conference Trade and Development (UNCTAD) General Mukusis Kitui said, “An additional value of 200 million live and indirect jobs is based on the blockchain.”

Fishcoin’s Partnership:

Fishcoin is already a partnership with many leading shareholders. As published in Fishcoin’s Medium Posts, this partnership includes some of the leading academic institutions, researching and studying the opportunities offered by BlockChain for Aquaculture. Others include the introduction of domestic aquaculture businesses to Fishcoin, such as the Bahamas entities and the Thai Union in the fishing industry.

Fishcoin is an initiative known as Every Mile, with every eco-friendly technology company. The company operates to improve supply chains through collection and monitoring of data in agriculture and aquaculture, connecting fish hunters and farmers with continuous supply chains and markets. One of the Eachmile’s solutions is “mFish”. It is an application used to detect fishery supply chains.

In 2014, the US Secretary of State John Kerry launched mFish, which soon included Fishcoin. The US Ocean has requested everyone to maintain Fishackathon in 2019. Environmental Hackathon focuses on the use of blockchain and other technologies to improve stability and environmental responsibilities in our environment. In this case, the recipients will have access to sensors and contents through the internet and have information technology and data sharing solutions, including the Blockchain technology.

In agriculture, Blockchain already demonstrated the ability to minimize processing and transaction times and upgrade the value and supply chain by raising trust and credibility between food producers, retailers, verification agencies and government agencies. Blockchain’s benefits in agriculture have been reported to be very extensive, the Aquaculture industry can now meet new steps.

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About the Author: Jaya Nandini

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