It has been reported that the partnership is already underway, with Nueva Pescanova utilizing blockchain technology to track shrimp fishing in Argentina and prawn cultivation in Ecuador.
Ignacio González, the CEO of the Nueva Pescanova Group, stated that the traceability platform will help the firm in meeting the United Nation’s Global Dialogue on Seafood Traceability (DGST) standards.
“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.”
However, Nueva Pescanova Group is a leading multinational seafood firm that was founded in 1960. The company covers the cultivation, production, processing, and distribution of seafood. IBM’s Food Trust traceability platform was designed for the food industry, enabling members of the network to view comprehensive supply chain data from products in “near real-time” — offering significant efficiency savings to producers, minimizing fraud across the global market, and ensuring safety and sustainability obligations are met.
Offshore traceability. Spanish seafood giant Pescanova Group teams up with IBM to track fishing and fish farming using its blockchain technology platform. https://t.co/DIakSY3PAe — Cointelegraph (@Cointelegraph) June 8, 2021
The report said that sustainability is an issue of increasing importance to seafood consumers, with IBM referencing its 2020 Europe Food Sustainability study, which found that nearly 50% of respondents would buy more seafood if they had more information on its “origin, safety and production.”
The partnership adds to the growing list of food and agricultural firms that have partnered with IBM for blockchain-based supply chain solutions. In February, Multinational retail giant Carrefour partnered with IBM to track the supply chain of chicken and microgreens.
Thus, in December 2020, Nestlé, Dole, and olive oil giant CHO were already leveraging the IBM Food Trust Network.