It is one of the first kind projects to use blockchain technology to track the export of shrimps from the farmers of India to a retailer abroad.
Blockchain Technology in Supply Chain
On Oct. 4, Indian business publication LiveMint reported that using blockchain technology in the shrimp supply chain can also help in monitoring food safety procedures throughout the processing of the shrimp from the beginning at the farm to transportation.
Walmart added that it will help seafood farmers in the Andhra region of India to strengthen the supply chain of shrimp while building customer trust for the product.
Long Term Growth for Food Industry in the Region
The project will help in promoting India as the preferred seafood destination while also ensuring food traceability and transparency for the consumers in the United States.
According to the export value of 2018, shrimp is the largest agricultural export with the United States taking a 46% share of the export value during that year.
Shrimp is India’s largest agricultural export with the United States being its largest market, taking a 46 percent share of India’s shrimp exports by value in 2018.
The state government of Andhra Pradesh encourages farmers in the region to improve the quality standards and comply with the US monitoring programs while strengthening shrimp cultivation as a sustainable long-term growth industry.
Blockchain Supply Chain in Other Projects
On Sept 24. cryptonewspoint reported that Srijan Technologies, a private company in India declared that it is supporting a group of researchers at the Indian Institute of Technology (IIT), Delhi in a project that will be using blockchain to track honey from farm to retailer in order to extract illegal additives and impurities along the supply chain.
The company will sponsor a blockchain-powered platform to track honey from its origin to end consumers.