Cermaq, a subsidiary of Mitsubishi, based in Norway, plans to utilize the blockchain to improve the traceability of its salmon. The salmon will be sold in France and users will be able to find out the source of their purchases by scanning a QR code. This announcement was made via a press release.

 How the Process Will Work

When buyers scan the QR code, they will receive various details about their salmon. For instance, they will learn about how it was farmed, its size upon release into seawater, and the location of the fish farm. Other information that customers will be able to access includes the health and welfare of the fish. This will include the diet the salmon was fed as well as any vaccines it might have received. The project will first be rolled out in the French market.

The company will utilize the IBM Food Trust ledger, instead of using a public ledger, to store and manage the information. This is a special blockchain-based platform that was developed by IBM for the food industry to make it easier to track the sources of food products. The platform is based on the open-source Hyperledger Fabric that was created by the Linux Foundation.

According to the Cermaq CEO, this project is going to help to reassure French customers that the salmon they purchase was sourced safely and sustainably. Besides that, they will also be able to verify that it is nutritious and sourced from the pristine waters of the North Atlantic. This project is being undertaken in collaboration with Labeyrie, which is a leading smoked salmon brand in France. With this project, Labeyrie now has two Norwegian salmon products that can be traced using blockchain technology.

Why it Matters

There has been a growing awareness and interest amongst consumers about the origin of food products. Besides that, there has been growing concern about the safety of food products and whether they have been sourced sustainably. To access the information, users will need a smart device as well as download a dedicated app that will show them all the details they need to know about a product.

About the IBM Food Trust Ledger

IBM Food Trust is a permissioned blockchain that is designed to create a smart and safe food supply chain. It offers numerous benefits such as increased efficiency of the supply chain, elimination of fraud in the supply chain, reduced wastage, and increased brand trust. It allows participants in the food supply chain to create permanent and shareable records of the food supply chain.

Various companies have already signed up for the project. One of the largest companies to join the project is Carrefour, the French retailer. The company recently announced that it would use the IBM Food Trust platform to enhance the traceability of baby formula.

The realization that the current system of food traceability was inadequate was first made in 2008, in what came to be known as the Chinese milk scandal.

Image Source: Shutterstock

Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice. This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Visionary Financial was not compensated to submit this article Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.

You May Also Like
OMG Network

OMG Network Price Rallies The Last 24 Hours To Avoid Potential Carnage

OMG Network has seen a significant correction the last 24 hours, following…

Walmart’s Strategic Nasdaq Migration Signals Retail’s Technology Transformation

Walmart will transfer its stock listing from the New York Stock Exchange…

EUR/USD Outlook & Trade Signals: Can the Euro Push Higher from Here?

The EUR/USD currency pair enters the new week with renewed bullish interest as…
Stablecoins

Stablecoins and Their Use Cases – How Stablecoins Make Your Trading Life Easier

Crypto is one of the most unpredictable industries, where prices can swing…

Coinvention 2019 Returns to Philadelphia Featuring Industry Leaders, Competitive Hackathon

NEW YORK (July 16, 2019) – via CryptoCurrencyWire – Coinvention 2019 is…

Bitcoin Investor Files A Lawsuit Against IRS For Obtaining His Private Financial Data

James Harper, a Bitcoin investor out of New Hampshire has filed a…
ShowPay Raises $1.5M To Focus On BSV Decentralized ID Systems

ShowPay Raises $1.5M To Focus On BSV Decentralized ID Systems

ShowPay, a blockchain company focusing on BSV, recently announced a $1.5 million…

Google Picks Smart Contract Startup to Partner in Blockchain Project

Every moment, crypto news gets more interesting, as it seems like a…

Microsoft Finalizes $135 Billion OpenAI Deal

Microsoft completed a landmark restructuring agreement with OpenAI that places the tech…

Cryptocurrency For Beginners: Common Crypto Scams That Permeate The Digital Asset Space

Photo Credit To Block Inspect Via Flickr The meteoric rise of crypto…