Blockchain initiatives have gone well beyond cryptocurrencies. In fact, they get more recognition in the shipping and logistics industry these days.
Blockchain initiatives have gone well beyond cryptocurrencies. In fact, they get more recognition in the shipping and logistics industry these days. The latest example comes from Ecuador. The local Sustainable Shrimp Partnership (SSP) has partnered with IBM.
The partnership will result in SSP taking part in IBM’s Food Trust Ecosystem, which aims to make food shipping more transparent and fair. In this case, we are talking SSP shrimp quality. Once SSP’s products are put on the blockchain, retailers and consumers can track them and check details about their production. In a press release from May 6, Pamela Nath, director of SSP said:
“Our aim is to have SSP premium quality shrimp in supermarkets and on menus where the consumer can scan the QR code and find out which farm it is from, how it was farmed, and key indicators on its food safety and sustainability profile.”
SeafoodSource reports that the SSP is comprised of 11 Ecuadorian shrimp farms. Just in March this year, the SSP has sold 1000 metric tons of shrimp in the United States alone.
“We expect to see increasing demand of SSP shrimp in the coming months. We are already in dialogue with multiple partners in the marketplace who are looking for premium products which meet the growing consumer demand, for clean, safe, and sustainable seafood,” Nath said.
The Food Trust Ecosystem was finally launched after 18 months of testing in October 2018. A strategic move from IBM since research firm Gartner suggested that by 2025 as much as 20% of the largest grocers in the world will hop on the blockchain train. Senior Analyst Joanne Joliet even claimed that blockchain development will be primarily driven by grocers.
In related news, Starbucks is set to track coffee production but using Microsoft’s Azure Blockchain Service instead of IBM’s Food Trust Ecosystem. The US-based coffee chain started its blockchain tracking system back in 2018 when it partnered with farmers from Rwanda, Costa Rica, and Colombia.
“Many years ago, our controls and transactions were all done by paper, and today we are even talking about blockchain technology. This shows us that, more than being at the front of every technological advancement, having the information and being flexible and adaptable are important,” elaborated Ronald Peters, executive director of the Costa Rican Coffee Institute (ICAFE).
Microsoft’s Azure Blockchain Service operates as a blockchain-as-a-service, supporting Quorum and JPMorgan Chase’s Ethereum-based platform.