The truth behind the buzz.
These days, the talk in the supply chain world is all about blockchain. Many stakeholders in the seafood industry are now wondering if blockchain may be the thing that solves our persistent traceability problems, once and for all. Many companies in the traceability solution space have jumped at the chance to sell their version of blockchain. But is it the real deal or just hype? How is it different from Legit Fish’s solution? Let’s break it down.
What is blockchain?
Blockchain was originally designed for digital currency like Bitcoin. Simply defined, a blockchain is a time-stamped series of immutable records of data managed by group of computers/serves and not owned by any single entity. This makes blockchain a very secure way to protect data from tampering or manipulation while still enabling permitted users to access, add, or modify data within the record set.
How is blockchain used in seafood traceability?
While data security is critical to seafood traceability, it is only one piece of the bigger picture, which is to ensure that the data associated with product moving through the supply chain are indeed correct. Prior to locking down that data, it’s critical that it be authenticated and verified as correct, accurate and true. In other words, if blockchain is securing incorrect data, it’s worthless.
Legit Fish is a more robust solution than blockchain alone.
Legit Fish authenticates all data it tracks through the supply chain. We know this can be extremely complex and difficult in the seafood industry. Products have many different market names, go through a variety of product form changes, and can be batched in unique ways. The patented and proprietary algorithms behind the Legit Fish authentication ensure that the information on our product is indeed correct and belongs to that product.
Plus, Legit Fish is nimble and agnostic to the different technology (IoT, ERP systems, blockchain, etc.) used at various stages of the supply chain. While blockchain may play a part in the solution, Legit Fish is bringing a comprehensive solution to market that authenticates and secures data at every step of the supply chain; something that blockchain alone simply cannot do.