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Improving seafood traceability and financial inclusion with blockchain

ReferenssiCollaborators: WWF-Philippines, UnionBank, Streamr

We’re developing the blockchain-enabled traceability and trade data application, Tracey, that will enable recording catch data digitally to trace seafood products in the first mile of the supply chain.

Tracey solves the challenge of first-mile traceability by providing incentives to fisherfolk for providing verified catch and trade data. By providing data, unbanked fisherfolk can gain access to microfinance.

The challenge

With stocks of yellowfin tuna and other most popular species of fish declining in the Philippines, the importance of accurate data on catch yields is more important than ever. Furthermore, with an increasing number of identified cases on mislabelling of seafood products there is a need to improve transparency of the origin of products throughout the value chain.

Obtaining verified data in the first mile of the supply chain is challenging, particularly in developing countries where the supply chain extends across multiple geographies and organisations.

In the Philippines, many fisherfolk are currently unbanked meaning they do not have bank accounts. As a result, they are unable to access institutional finance. To solve global problems such as these, an impactful solution is needed.

Tracey – your traceability and trade data companion

Tracey is a blockchain-enabled application that incentivises fisherfolk to capture verified catch and trade data through data monetisation. The incentivisation happens through direct data monetisation via the Streamr Marketplace where data is sold to third parties such as retailers and final buyers, and indirect monetisation, whereby institutions can access the data for free by offering services such as micro-financing.

Data is captured from third party sensors streaming data in real time, manual elogging and QR codes. Tracey utilises the Global Dialogue on Seafood Traceability (GDST) data recording standards. The data can be accessed directly from the Tracey app or via the Streamr Data marketplace. Analytics can be run on the data using the Streamr Core App to assess everything from fish stock levels within a specified geographic area, to the location of seafood products in the value chain, to the quantity of specific seafood products sold.

Ownership of the data rests with the data owner. Permissioning functionality within the App allows the data owner to decide who can access the data, the time period of access and the subscription fee. The data owners are under no pressure to open up access to the data. But if they want to access the benefits that non-siloed data can bring, then Tracey is their gateway.

Tracey provides the missing piece in first-mile supply chain traceability, enabling a self-sustaining ecosystem of capturing and disseminating accurate seafood traceability data. It allows the collection of accurate data on catch yields for determining maximum sustainable yield (MSY) thresholds in areas where overfishing is a problem.

The incentives provided can have a material impact on the livelihoods of fisherfolk and their families. This technology solution not only solves the issue of inadequate access to robust seafood traceability data, but it also helps transition unbanked individuals towards becoming bankable.

The Tracey app is scheduled to have its pilot in the areas of Bicol and Mindoro, Philippines.

The solution is transferable to other industries where supply chains can benefit from incentivising actors for better data collection and dissemination, resulting in better traceability in the first mile and improved livelihoods of actors like farmers and fisherfolk. 

Suosittelija:

“Collaboration with TX, WWF-Philippines and the GDST promises to be not just innovative but game-changing. We are quite excited about this work; this concept is core in adopting traceability in a market driven approach, and the most apt application of blockchain in food traceability yet.“

Susan Roxas, Asia-Pacific Lead, Global Seafood Traceability, WWF

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Tiedot

Tilaaja: WWF, UnionBank of the Philippines
Ajankohta: 2019 -
Toimittajan
yhteyshenkilö:
Ben Sheppard +358 4578 757 959

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