Nueva Pescanova Leverages IBM Food Trust for Supply Chain Traceability
Spanish seafood company Nueva Pescanova has partnered with IBM to utilize the latter’s blockchain-based solution, Food Trust platform, to trace seafood products across the supply chain.
Tracking Seafood Supply Chain with Blockchain Technology
IBM announced the collaboration in a press release on Tuesday (June 8, 2021). Accoding to the announcement, Nueva Pescanova already started using the IBM Food Trust platform to track shrimp fishing in Argentina, and Vannamei prawns cultivation in Ecuador.
By using IBM supply chain network, wholesalers, producers, and retailers can access comprehensive data about the process concerning seafood products in near real time. Also, the use of a blockchain-based solution that cannot be tampered with, will foster trust and confidence in Nueva Pescanova consumers about the company’s products.
The seafood company further aims to address Global Dialogue on Seafood Traceability (GDST) standards, through the use of the IBM Food Trust platform. According to Nueva Pecanova’s CEO, Ignacio González,
“This ambitious project we want to offer our consumers all over the world rigorous and detailed information on the traceability of our seafood products, from their origin until they reach their tables. Now is the time for businesses across the seafood sector to begin addressing the GDST standards.”
More consumers are becoming conscious of the origin of the products they purchase, with emphasis on safety. A 2020 Europe Food Sustainability Study conducted by IBM showed that almost half of the people surveyed “would buy more fish if they were provided with proven and reliable information about its origin, safety and production.” Another IBM survey in different countries showed that majority of respondents preferred brands to guarantee the authenticity of the products they purchase.
Nueva Pescanova becomes the latest company to utilize the IBM Food Trust blockchain network for supply chain traceability. Back in 2020, Norwegian seafood producer Kvarøy Arctic, joined the IBM Food Trust to boost transparency in its supply chain.
Also in 2020, Norway’s Seafood Association partnered with IBM to leverage blockchain technology to eliminate fraud and food waste in the seafood industry. Food and drink processing giant Nestlé uses IBM’s Food Trust distributed ledger technology (DLT) platform for supply chain traceability.
Outside the food industry, companies such as German clothing manufacturer KAYA&KATO, have collaborated with IBM to use blockchain technology.