Shrimp import tracking to the United States from India using blockchain technology has just been announced by the retail giant Walmart.
The American multinational retail corporation is planning on tracking shrimp imports between the incredible coastal region of southeast India, Andhra Pradesh and the United States-based retail warehouses, using blockchain tech developed by IBM. This new move will have an “end-to-end traceability,” feature, according to a press release posted lat the end of last week.
“The introduction of blockchain in the shrimp supply chain could help improve the quality of information on the product for compliance purposes and for sharing with consumers, providing added traceability beginning at the farm and extending throughout the transportation process,” the company said.
This is a platform that will only be available to small-time farmers enrolled in Walmart’s membership-only retails warehouse chain Sam’s Club, whose food safety program needs compliance with global best aquaculture practises, or BAP.
The retail giant will provide the funding for smallholder farmers in Andhra Pradesh to receive BAP training as part of the scheme.
The managing director of the Indian seafood processor Sandhya Aqua, Chowdary Kunam said:
“This end-to-end blockchain pilot is the first of its kind in India and has the potential to create long-term economic opportunity for the shrimp farming community in Andhra Pradesh, directly benefiting the farmers through new skills training and development.”
The processor is getting involved in the project as well as the US-based supplier Stanley Pearlman Enterprises.
As previously reported by CryptoDaily, Walmart has been looking into cryptocurrency. They have even tried to patent a digital currency which would be backed by a reserve of dollars. However, this project has been compared heavily to the upcoming stablecoin coming from Facebook, Libra.
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!