The partnership also seeks to establish a seafood stock exchange where local and foreign investors can invest capital for these farmers to build better facilities and produce higher quality seafood.
Farm to Plate, a blockchain-based SaaS solution for the food industry, today announced its strategic partnership with Esearass, a leading provider of seafood, across the Indian market, to enable seafood traceability, sustainable underwater ecosystems, financial emancipation and enhanced customer satisfaction using blockchain technology. By 2030, the world’s population will require 232 million metric tonnes (MT) of seafood, around 62 million MT more than the planet is expected to produce unless bold steps are taken, according to international research organisation World Fish Center.
“Clear visibility of demand ensures that suppliers can know when and how much to procure, enabling a near real-time seafood supply chain and providing consumers with fresh stock when they need it. Throw in micro tipping into the mix and you get a nexus between consumers and fishermen like never before,” said Saptarshi Choudhury, Director of Emerging Technology at Farm to Plate. “With immutable, end to end track and trace and secure financial payment integration on the blockchain we can enable a secure marketplace environment that eliminates the need for intermediaries,” Choudhury added.
“With Farm to Plate as our partner, we can provide a more secure marketplace for fish farmers to sell their produce at the best available price and gain direct remuneration through a QR code-driven payment interface. We hope to bring financial emancipation to fishermen and provide consumers with the verifiable quality and trust they deserve,” Suvo Sircar, Co-founder, Esearass said.
Along with enabling sustainability in the producer ecosystem, the Farm to Plate platform offers End to end track and trace from farmer to consumer, Microtipping, Modular design, Single window for all stakeholders to view supply chain data, Two-factor authentication and authorisation, Seamless onboarding, Easy transfer of data, Identity and access management for role allocation and Publicly accessible URL through a QR code.
The partnership also seeks to establish a seafood stock exchange where local and foreign investors can invest capital for these farmers to build better facilities and produce higher quality seafood. The company is currently investigating AI-based options to track the freshness index of seafood, so implementing blockchain technology is perhaps the logical step forward.
“Esearass’s vision is in line with our corporate philosophy to build sustainable ecosystems while ensuring equitable benefits for all. The success of this partnership will enable consumers in the United States and other countries to gain access to exotic seafood supplies that are compliant with industry norms and give trusted traceability and assured quality, even for foods sourced from developing economies,” said, Pramod Sajja, CEO and President, Paramount Software Solutions.