A decentralized network of tools for data capture

In the past the seafood industry, to a large extent, avoided the exchange of data altogether because neither governments, nor consumers, required such data. This is rapidly changing however, and with the US Seafood Import Monitoring Program, chain of custody records will be required for seafood prior to import beginning January 1, 2018. In a global industry comprised of disconnected stakeholders this represents a problem because supply chain actors must coordinate around a single tool or standard for data capture and transfer. Thus, the Fishcoin network is not an application, but a series of APIs and SDKs designed for existing industry tools that can be utilized by third party developers who wish to integrate their applications.

A tokenized incentive to capture and communicate data along fragmented supply chains

Supply chain stakeholders such as fishermen and processors can receive Fishcoin Tokens in exchange for providing data, and the tokens will be the mechanism to reward them for their additional effort in capturing data. The flow of Fishcoin Tokens moves from buyers to sellers in the supply chain, which creates a virtuous cycle rewarding those who make the extra effort to capture data such as fishermen and supply chain intermediaries. This rightly shifts the economic burden to downstream actors in the supply chain such as hotels, restaurants and retailers who benefit most from traceability and other data as they can use such data to validate the quality of their seafood to consumers.

An interoperable suite of tools designed by seafood industry insiders

While there are other blockchain based traceability platforms that have emerged to address the very real supply chain problems that span industries, the seafood industry in particular has unique needs that can only be addressed by those with insider knowledge based on the realities of actual trade. This is where the Fishcoin team and advisors are uniquely qualified to develop and deploy an ecosystem of this kind. Our team is a unique group of sustainable seafood, supply chain and technology experts each with decades of experience in each of our respective fields. This unique collection of industry insiders have not only the experience, but the networks to deploy the Fishcoin token ecosystem in supply chains throughout the world.

The challenges of seafood supply chains cannot be solved by technology alone, but require a deep understanding of the social and financial issues that govern the motivations of various stakeholders. Our team's long experience facilitating traceable and sustainable seafood trade with institutional buyers allows us to understand the full range of the issues involved as we deploy technologies that will transform the industry.