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Spanish Seafood Company Teams Up with IBM to Improve Product Traceability with Blockchain

UTC by staff writer · 3 min read
Spanish Seafood Company Teams Up with IBM to Improve Product Traceability with Blockchain
Photo: Nueva Pescanova

IBM developed a platform for Food Trust traceability with the aim of providing almost real-time data regarding farming, processing, and delivering products.

As per the announcement published on June 8th, IBM has made it clear that a collaboration with the multinational seafood provider, Nueva Pescanova Group, is in progress. This collaboration was initiated with the motivation of abiding by the UN’s Global Dialogue on Seafood Traceability (DGST) standards, as informed by Ignacio González, the CEO of the Spanish-based organization.

IBM and Seafood Industry

In the latest deal, the Spanish seafood company will precisely track the farming of prawns and fishing of shrimps in Ecuador and Argentina, respectively. Ignacio González clearly stated that this measure is taken to ensure that the consumers of their seafood have meticulous and factual knowledge about the entire journey of the seafood from the fishing until they end up on the platter. He also added that it is high time that every seafood company begins recognizing and meeting the DGST standards.

The Nueva Pescanova group has now solidified its position as the top continental seafood company. It started in 1960 and has made its way to the top by showing consistent growth. The firm handles every process from cultivation to processing and finally supplying the seafood.

This alliance between a seafood company and IBM adds to the long list of other cultivational and food-related companies that have joined forces with blockchain technology implementations for better sustainability and transparency in the supply chain. It was only in the month of February this year when the supplier of hen and microgreens, Carrefour, announced its alliance with IBM for supply chain monitoring. On the other hand, several paramount food giants such as Nestle, CHO, and Dole have already been utilizing blockchain solutions since December 2020.

Why Is Supply Chain Traceability Essential? 

IBM developed a platform for Food Trust traceability with the aim of providing almost real-time data regarding farming, processing, and delivering the food, that is, the overall supply chain information, to provide benefits to both the provider and the consumer. This provided the producers with outstanding saving strategies while the consumers were offered more transparency that reduced the threat of fraud in the food business.

When it comes to seafood, sustainability is an immense concern for producers and end customers. Europe Food Sustainability report of the year 2020 revealed that almost fifty percent of the participants would purchase seafood in higher quantities if they were well informed about the supply chain associated with it. Consequently, making use of the Food Trust Traceability platform and blockchain solutions is the need of the current time.

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