The latest name to join the list of IBM’s Food Trust is the Norwegian-based producer of farmed-salmon, Kvarøy Arctic, and has become the tech giant’s blockchain-based supply chain solution for the food industry. Kvarøy Arctic business runs in countries like the United States and Canada and is a supplier for numerous restaurants and whole foods retailers. It is ready to utilize blockchain technology to serve detailed information on the origin of its production to restaurants and consumers.
Raj Rao who is an IBM Food Trust’s general manager talked about the partnership and depicted it as a way to promote transparency and sustainability in the seafood supply chains.
Blockchain boosts transparency
Information related to the inception of salmon farmed by Kvarøy Arctic is going to be accessible to corporate buyers and consumers via QR codes. Customers are going to access superlative information and images mentioning about the conditions where salmon was produced that include the population and density of the habitats where the salmon were raised, including other information such as age, date of harvest, and information related to the supply route taken from farm to supermarket. The salmon producer is working with its feed supplier Biomar is to cater to its supply chain data to the project.
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Premium foods attract premium fraud
Kvarøy Arctic also talked about a dramatic escalation in demand for fresh seafood in the United States in the last three months, along with the producer making shipments at twice the predicted volume. IBM Food Trust representative Espen Braathe mentioned Forbes that premium foods appeal and attract a number of instances of fraud compared to other consumable products, stating that if there is a premium price in food, the premium for fraud increases.
The recent study published by environmental non-profit Oceana found that around one-third of all seafood products are mislabelled in the United States, providing consumers more paying premium prices for substandard production. Blockchain is the future if we talk about ending fraud in the seafood industry, said by Kvarøy Arctic CEO Alf-Gøran Knutsen. “the technology keeps a track on detail that is useful to reduce food waste to feed more people in the world.
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