Blockchain solutions in seafood distribution by Hashcash

Blockchain in Seafood Distribution Implemented by a major distributor in Singapore supplying seafood domestically and to seven neighboring countries

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Seafood Supply Chain

Source

Seed Production

On-growing Farm

Consumer

Harvesting

Market/retai ler

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Catch Receiver

Wholesale & distribution

Processing

Seafood Fraud Types Species Substitution

Adulteration

Species Adulteration Undeclared Product Extension Fishery Substitution

Food Fraud

Provenance Chain of Custody Abuse Illegal, unregulated substitution

Catch method fraud

Ethical trade Modern day slavery

Animal welfare Private & Confidential

Key Challenges Faced • Malpractices including illegal fishing, unreported fishing and unregulated fishing • Falsification of traceability information • Non-legitimate trans-shipments • Economic deception, consumer rights and public health threat Reasons: • The use of paper documentation, which is easily manipulated and forged • Documentation schemes generally do not apply to legitimately transshipped product which is often a point of laundering Private & Confidential

Blockchain Integrated Solutions • Provenance tracking – traceability throughout the supply chain • Use of smart contracts to securely exchange critical trade documents, such as bills of lading and letters of credit • All parties involved in a transaction views up-to-date data at all times • Improved record keeping – Blockchain records are immutable and are harder to hack

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HashCash Drives Innovation 1. With HashCash, one has to register their catch on the blockchain network by entering the necessary details like type of species, time, location and even the weight of the fish and also the gear one is using.

2. After the data is entered, it follows the fish throughout the supply chain. With the integration of the concept of IoT, Blockchain can connect data from each trawler to respective their processors. It enables real-time monitoring of the seafood as it moves along with the supply chain.

3. When fishers catch the fish, they can attach a radio frequency identification (RFID) tag with a unique ID number.

4. When fish moves towards the processor, the tag gives out real-time information regarding its location, condition, and number of people during its journey. In this way, Blockchain can track every movement of seafood.

5. And then finally, when it reaches the store, the entire journey can be traced by scanning a code on the package.

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Benefits • Blockchain based provenance tracking for transparency across supply chain, address compliance, and accountability • Swifter consensus on additional trade terms between parties • Reduce number of disputes and make resolution straightforward, , limiting species substitution and adulteration • Document verification and validation through Smart contracts – eliminating the scope of fraudulent activities at all nodes • Less paperwork - improved immutability, security, speed and scalability • Economic gain and resolve compliance issues related with Modern day slavery, animal welfare and public health • Eliminating uncertainty and curbing sustainability and food safety concerns • Equips the end consumers with trustworthy product information with increased data sharing and interoperability among each other Private & Confidential

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Thank You