Blockchain in the seafood industry

Increasing transparency and efficiency in global seafood supply chains

2019-03-06

This is a joint Deloitte and DNV GL report, which intends to be a primer for action on how transparency in the seafood industry can be improved through digital technologies, such as Blockchain, to cater for operational efficiencies, sustainable capacities and accountability.

Seafood products are some of the most traded food items worldwide, but around one third of global fish stocks are overexploited. The seafood industry suffers from unsustainable resource management, inefficiencies in operations and distrust across stakeholders in the supply chain.

At the same time, there is an increased demand for more transparency, both to improve operating efficiency across the supply chain, but also to ensure that the end consumers have access to trustworthy product information. From this report we see that digitalization, along with the many benefits of Blockchain technology, could increase operational efficiencies and provide remedies to issues in the seafood supply chain in a cost effective. However, this is only possible provided that data sharing and trustworthy transparency starts from the first mile, at the feed production and brood stock, to fishing vessel operators, and to the retailers.

Incentivizing stakeholders to gather and share their data will be a crucial first step towards greater transparency. At the same time, all ecosystem players, sector players and adjacent service providers alike must contribute with incentive schemes for data sharing. It is important that they see the benefit of gaining useful insights into stakeholder operations in a transaction heavy, global, and disaggregated trading sector. The oceans and coastal areas can only supply seafood products for a growing global population if transparency and trustworthiness is promoted.

This must be done in a cost effective and integrative manner in order to sustainably maintain renewable fish stocks and uphold ecological ecosystems.

Download the full report by filling out the form on this page. 

Scope of investigation

In this report we touch upon the following topics:

  • Food safety and traceability of products
  • animal welfare
  • labor working conditions
  • efficiency of bringing trust to consumers
  • friction and data exchange at interfaces
  • ecological sustainability (fish stock control potential)

Note that consumer behavior and retailers’ needs, as well as legal and regulatory matters, were not analyzed, and is therefore not part of this report.

Qualitative research

For this report we conducted one-on-one interviews with 20 company representatives and experts across the following sectors:

  • Feed
  • Farming and production - wild catch and aquaculture
  • Wholesale and retail
  • Finance and insurance
  • Research
  • Enablers - IT solution service providers
  • Fisheries ministry

Their views have decisively contributed to gaining insights into the challenges, barriers, and opportunity areas, in order to satisfy business aspirations, safeguard natural resources and to help equip the industry to meet stakeholders needs. Especially by fulfilling commercial (efficiency), transparency, regulatory requirements and ecological boundary constraints.

Download the full report by filling out the form on this page. 

 

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Anders Milde Gjendemsjø

Director

[email protected] | +47 957 06 020

 
 

Julian Blohmke

Manager, Deloitte Germany, Sustainability Services

[email protected] | +49 1515 807 2006