What are the Blockchain Implications of SCM in the Fisheries Industry in the Global Market?
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Designing supply chain models with blockchain technology in the fishing industry in Indonesia
S Larissa1 and J Parung
IOP Conf. Series: Materials Science and Engineering 1072 (2021) 012020 doi:10.1088/1757-899X/1072/1/012020
"The fishing industry contributes to the national economy and has a high risk of being traded because it has a long shipping time, limited time to consume, and the amount traded varies depending on the season. This risk can reduce the potential profit of players in the fishing industry. To reduce this risk and maximize added value, blockchain technology is used to change the supply chain of the fishing industry. Blockchain technology is a ledger database that is distributed to record transactions among parties that can be verified and permanently.
Blockchain is a promising technology in providing a transparent fish product supply chain, but many obstacles and challenges still hinder its popularity in the fishery supply chain. However, blockchain with its main characteristics: decentralization, anonymity, transparency, and traceability, can change the traditional fishing industry for the better. Blockchain can be combined with other emerging technologies (big data, robotics, IoT, RFID, NFC, etc.), for higher automation of the fishery supply chain, resulting in full transparency and tracking. Blockchain also has economic benefits for all users because it can make production more efficiently at lower costs."
The use of blockchain technology has important effects on how the global fisheries sector manages its supply chain. It increases openness, the ability to track products, and confidence by establishing a secure and unalterable history of seafood's passage from capture to sale. This innovation combats deceit, confirms where products come from, guarantees quality and safety, streamlines operations, and encourages cooperation among involved parties. As a result, blockchain advances sustainability methods and entry into the market within the industry.
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