For Norway’s huge following of climate change and sustainable farming activists, blockchain technology may hold an answer.
Last week, the Norwegian Seafood Association (NSA) said it is partnering with IBM for the latter’s enterprise blockchain solution “Transparent Supply” — changing how its billion-dollar fish industry will operate moving forward.
Norwegian Salmon is a serious business. Reports estimate the industry generates just shy of $1 billion annually in imports for the Scandinavian country—making up an important part of its overall economy.
Concerns of sustainability and traceability have been raised in the past. The aura around Norwegian Salmon brings with it below-par products, frauds, and storage concerns, all of which individually contribute towards buyer decisions.
But Kvarøy Arctic, one of the joinees, thinks blockchain technology ends such concerns. The firm is a leading provider of naturally sea farmed salmon, and shall soon deliver blockchain-tagged fish fillets to retailers in the United States and Canada.
Demand for salmon is growing faster than demand for beef or poultry as consumers look for healthier s of protein. IBM #blockchain helps solve fraudulent fish labelling. #traceability https://t.co/RnWIeXpG6h pic.twitter.com/XLbKfVnhS6
— IBM Europe (@IBMEurope) June 24, 2020