Pacifical tuna, the largest sustainable tuna fishery in the world, has announced at the Seaweb Sustainable Seafood Summit in Barcelona, Spain that it will be launching the first large-scale blockchain initiative in the USD 42 billion per year worldwide tuna industry. It will be partnering with Thailand blockchain company Atato which uses Ethereum blockchain smart contracts in combination with IPFS decentralized file storage.
Pacifical tuna is caught by the Parties to the Nauru Agreement (PNA), which includes the territory of Tokelau and eight countries including the Federated States of Micronesia, Kiribati, Marshall Islands, Nauru, Palau, Papua New Guinea, Solomon Islands and Tuvalu. A quarter of the world’s tuna and half of skipjack tuna, the most commonly canned tuna, is caught by PNA countries.
About 35 million tuna fish are caught by the PNA per year, which is a tightly controlled number since it is a sustainable fishery and overfishing is not allowed. Atato’s blockchain services will cover 100 large fishing vessels which will provide transparency. Tuna fishing data will be stored on an immutable blockchain that cannot be manipulated, allowing officials as well as the public to easily audit the tuna catch to ensure that it really is sustainable, and that there isn’t illegal overfishing.
PNA tuna is manufactured into 200 million consumer items per year under the Pacifical brand, and these will be tracked in the blockchain through the entire supply chain from ocean to grocery store shelf. All products will have a unique tracking code that can be queried in the blockchain database, so customers and merchants will be able to determine where the tuna was caught and how fresh it is.
This blockchain data will help prevent fraud in the tuna supply chain; it won’t be possible for fraudsters to lie about the origins or authenticity of the tuna. Another benefit is tracking the entire tuna supply chain in a blockchain ledger will reveal inefficiencies across the supply chain, leading to improvements which could increase the average freshness of tuna and lower the price.
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