The Indian aquaculture industry, despite its significant contribution to global fish production, has been slow in adopting blockchain technology. Several factors contribute to this gap, including economic, technological, and logistical challenges. Here’s an analysis:

1. Lack of Awareness and Knowledge

• Limited Awareness: Many stakeholders, especially small-scale farmers and producers, are unaware of how blockchain works and its potential benefits.
• Technical Expertise: Blockchain requires a basic understanding of digital systems, which many traditional aquaculture farmers lack.

2. High Initial Costs

• Implementation Costs: Setting up blockchain technology involves significant investment in hardware, software, and infrastructure, which can be prohibitive for small-scale farmers who dominate the Indian aquaculture sector.
• Maintenance Costs: Continuous updates, cybersecurity, and technical support require ongoing financial resources.

3. Fragmented Supply Chain

• Diverse Stakeholders: The aquaculture supply chain in India involves multiple intermediaries, including farmers, traders, processors, exporters, and retailers, often operating in an informal and unstructured manner.
• Coordination Challenges: Blockchain implementation requires coordination and trust among all participants in the supply chain, which can be difficult to achieve in a fragmented system.

The Indian aquaculture industry has not widely adopted blockchain technology due to factors like lack of awareness, high initial investment, technological barriers (e.g., internet connectivity), regulatory challenges, and difficulties in integrating with existing systems. Additionally, accurate data entry and perceived low ROI deter adoption. Despite these challenges, blockchain could offer benefits like enhanced transparency and traceability in the sector.