18 August 2017
PROVIDING REAL CONFIDENCE IN THE PROVENANCE AND SUPPLY CHAIN
For many years, illegal, unreported and unregulated (IUU) fishing and/or misrepresented seafood have affected global seafood markets.
In the USA starting January 2018, the Seafood Import Monitoring Program requires specific data related to seafood imports to be provided electronically to U.S. Customs and Border ProtecIn EU similar requirements, specifically, special catch certificates, have been in place for several years. The pressure on paperwork through vessel owners and individual company systems linking with government approvals has been a bone of contention and the cause of much angst.
The Earth Twine-Stratis Platform partnership recently announced (link to media release) will significantly help all companies and governments solve the issue, and the winners will be all seafood consumers.
This partnership creates the first dedicated blockchain system for origin data and tracking for the global seafood industry. It combines collaborative technologies (Earth Twine, Stratis, and SPARKL), and will provide the means for tracking mandatory data for IUU compliance. This is a game changer for the industry. For Earth Twine this is the result of many years of working hard behind the scenes connecting and interpreting the wants and needs of the seafood industry. In collaboration with The Association of International Seafood Professionals (AISP), Earth Twine has established the means for inclusive representation of all sectors of the seafood industry. This has culminated in Earth Twine getting a comprehensive understanding of the unique seafood supply chain, and with the knowledge of the US Code of Federal Regulations (CFR’s) has led to the development of its solution that provides a product for all stakeholders of the supply chain, small and large.
Stratis has been described as the most technologically advanced blockchain platform in the world. This has not been an easy path and Stratis has been working hard at building their tech into one of the most powerful platforms in the space. The roadmap they offer shows that they are well organized and have thought through many potential technical issues. That is why Earth Twine chose them as their partner.
SPARKL enables the multiple tracking applications and systems to work collaboratively within legacy environments, and this fuels the platform to orchestrate multiple structures and will reduce complexities in the seafood supply chain.
Of course, this whole area has been a dynamic space and as governments have engaged rules and regulations have changed. To keep ahead, Earth Twine have created another partnership with the largest law firm in the USA, Greenberg Traurig Law. Greenberg Traurig Law’s international presence, industry specific knowledge of blockchain innovation, and its evolution and emerging regulations around cryptocurrencies by the US Securities and Exchange Commission (SEC) adds massive value and governance to the program.
Over the next few weeks and months, more detailed information will be made available, and members of AISP will be able to benefit from this major technology breakthrough for the industry.