What is Fishcoin?
Blockchain based traceability for the seafood industry
To address the fragmentation of most seafood supply chains Fishcoin has been designed as a peer-to-peer network that allows independent industry stakeholders to harness the power of blockchain using a shared protocol so that data can be trusted, transparent, and secure.
An ERC20 compatible token that incentivizes data sharing
The flow of tokens moves from buyers to sellers in supply chains, thus rewarding those who make the extra effort to capture and communicate data. This shifts the economic burden to downstream actors such as hotels, restaurants and retailers who benefit most from traceability.
An ecosystem approach to industry transformation
Unlike many blockchain initiatives, Fishcoin is not based on a central company or entity. Instead it is designed to be a decentralized ecosystem that incentivizes data capture so that an ecosystem of companies and 3rd party developers can benefit by adding value to the network.
Seafood is one of the largest industries on the planet.
12% of global livelihoods
That is correct... 1 out of every 10 people on the planet derive their income from seafood and aquaculture.
90% growth in consumption
People are eating more seafood than ever. In the past 50 years global per capita consumption has nearly doubled.
$150 billion in annual export value
Export value doesn’t include retail, or domestic production so full estimates of the industry size are upwards of $500 billion USD.
But this industry is often unsustainable
89% of fish stocks are at capacity
At present, 89% of global wild fish stocks are overfished or being fully exploited.
50%+ of seafood is thrown away
As much as 60% of the seafood we take from the ocean is discarded, lost or wasted in supply chains.
700KG of seafood are stolen every second
Illegal, unreported and unregulated (IUU) fishing accounts for more than 700KG stolen each and every second.
People want to know the story behind their seafood.
90% of seafood consumed in the U.S. is imported
Of this seafood, less than 1% is actually inspected by the government specifically for fraud.
20% of consumer seafood is mislabeled
Depending on the species and supply chain mislabeling can be as high as 86%.
Governments are cracking down
Beginning January 1, 2018 the U.S. Seafood Import Monitoring Program will block 15 species groups from import into the U.S. without traceability back to the boat.