Blockchain, the technology that’s behind the Bitcoin currency, is set to revolutionise the supply chain of the fishing industry.
According to The Guardian, the use of Blockchains will enable consumers to be able to trace their fish all the way from the trawler to the supermarket shelf.
The newspaper argues that the ”the seafood industry (is) notorious for human rights abuses and illegal fishing,” and that the new technology could help to overcome these issues.
The development comes as China’s Social Security Fund, which manages around 2 trillion yuan of funds annually, has announced its intention to use blockchains.
According to Bitcoin.com, that would allow for operational efficiencies, as well as enhanced security.
So what exactly is a blockchain?
According to wikipedia, it’s ”a distributed database that maintains a continuously-growing list of records secured from tampering and revision.”
The advantages of blockchain technology are apparently that it allows a fast, secure and transparent exchange of information.