Blockchain technology can be used for many different purposes. For the time being, the main focus lies on the financial sector. However, a new partnership between Stratis and Earth Twine will shape things up a bit. They will bring blockchain technology to the seafood industry. Considering this the world’s second-largest traded commodity, interesting things are on the horizon. This is also another major validation of what the Stratis team tries to achieve.
The seafood industry is not necessarily something people would associate with blockchain technology. In fact, it seems there is very little news as far as the seafood industry is concerned. That will soon come to change, though. The partnership between Earth Twine and Stratis will bring blockchain technology to this industry. It will allow for the creation of a dedicated system for origin data and tracking on an international scale. It combines interesting technologies – Stratis, SPARKL, and Earth Twine – to focus on IUU compliance.
Blockchain and Seafood Makes a lot of Sense
It is evident any industry related to food and drink can use blockchain technology. Especially when it comes to origin data and tracking. All of these commodities pass through many different third parties. Keeping track of things can be quite challenging, to say the least. There is no convenient solution to do so whatsoever, especially not in a transparent manner. With blockchain technology, that situation can come to change pretty quickly. Collaboration and cooperations are two keywords for this project in its current state of development.
To adapt blockchain for the seafood industry, some big changes have to be made. This is where SPARKL comes into the picture. It allows for multiple tracking apps and systems to work within legacy environments. Considering how multiple parties will use this blockchain-based platform, ensuring it is a collaborative effort is the main priority right now. Stratis will provide the blockchain infrastructure and applications to integrate Earth Twine’s tracking solution onto the blockchain. All things considered, it sounds like a very promising project that can transform the seafood industry as a whole.
This news comes at a critical time for the seafood industry as well. Come January 2018, specific data related to imports needs to be provided electronically. The Earth Twine-Stratis Platform will certainly make this job a lot easier moving forward. It is good to see blockchain technology being used for many different purposes. Stratis is certainly making a lot of waves in the industry these days. Not just with their blockchain, but also because they aim to bring more privacy to Bitcoin. Certainly a project to keep a close eye on moving forward.
Header image courtesy of Shutterstock
Our Social Networks: Facebook Instagram Pinterest Reddit Telegram Twitter Youtube
