Norwegian salmon exporter uses blockchain to combat food fraud
Kvarøy Arctic, the Norwegian producer of farmed-salmon, has joined the IBM Food Trust to combat fraud in the seafood industry.
Kvarøy Arctic that is a supplier for many restaurants and Whole Foods retailers in the United States and Canada, has become the latest company to join the tech giant’s blockchain-powered supply chain solution for the food industry.
This partnership will employ blockchain technology to promote sustainability in the seafood business and increase transparency between the retailer and the consumer by providing detailed information on the product origin to restaurants.
All the data on the origin of the salmon grown by Kvarøy Arctic will be attainable through QR codes. Consumers will be granted access to thorough information and images, detailing the conditions under which the salmon was produced, including their age and date of harvest, also the complete supply route from farm to supermarket.
Kvarøy Arctic stated that the demand for fresh seafood in the United States has grown significantly in the last few months, which resulted in increased shipment volumes.
The IBM Food Trust representative Espen Braathe believes that premium quality foods often attract more instances of fraudulent activities than other consumable goods. Oceana, the nonprofit ocean conservation organization, published a study revealing that over 30 percent of all seafood products are mislabeled in the United States, resulting in consumers paying higher prices for substandard goods.
Alf-Gøran Knutsen, CEO of Kvarøy Arctic, is certain that "Blockchain is the future when it comes to ending fraud in the seafood industry. <...> "The technology tracks a level of detail that helps us reduce food waste so we can feed more people in the world."