As many as 89% of consumers want more information about how their seafood is produced, according to research conducted for the Norwegian Seafood Council, which has announced that this demand for transparency is paving the way for producers to harness innovative blockchain technology to build consumer trust and offer a clearer picture of the seafood supply chain.
What differentiates blockchain from standard tracing and information gathering is not only the secure aspect of the technology, but the uniformity data storage. Data stored in blockchain technology can be timestamped, encrypted and accessed in chronological order.
Blockchain is just one of many themes explored in the NSC’s latest annual trends report, Navigating the World of Megatrends, which looks at the global shifts set to shape seafood consumption for decades to come driven by technological, political, economic, environmental, demographic and social change.
‘We have learned from our research that the resilience of a brand’s reputation is inexorably linked to trust. Trust is connected to the perception of authenticity. The increasing demand for transparency is an excellent opportunity to share authentic and engaging stories with consumers, capitalizing on the many wonderful narratives that the seafood industry has to offer,’ said NSC global consumer behaviour analyst Lars Moksness.
With consumer trust a key consideration in food production, global initiatives are seeking to enhance visibility throughout the seafood industry. FAIRR Seafood Traceability Engagement is a $6.5trn industry investor coalition engaging in constructive dialogue with the world’s key seafood providers to ensure complete transparency at every stage of the value chain.
IBM Food Trust and Provenance are examples of businesses offering emerging blockchain technology that have seen significant adoption across global seafood markets. Through far-reaching projects designed to encourage traceability throughout the supply chain, these organisations have developed end-to-end blockchain-based platforms designed to shine a light on global sustainable seafood practices and offer consumers the information they need when making seafood-purchasing decisions.
With all aspects of the supply chain on display, producers have an opportunity to communicate the quality of their seafood to consumers, while offering reassurance via proof of sustainable practices and securing their trust.
