A Data Ecosystem For The Global Seafood Industry
Fishcoin Private Sale Underway
The seafood industry is massive...
10% of the world's population
1 in 10 people on the planet derive their income from seafood.
90% growth in consumption
In the past 50 years global per capita seafood consumption is up 90%.
$150 Billion / Year
The global export value for seafood, retail value is multiples higher.
... but it's also broken.
89% of global wild fish stocks are overfished or fully exploited.
700KGs of seafood are stolen every second.
US FDA inspects 1%, tests 0.1% and rejects 51%.
Up to 60% discarded, lost or wasted in supply chains.
Up to 25% of seafood species are mislabeled.
Supply chains are opaque and disconnected.
As low as 5% of net profits make it back to producers.
Less than 15% are certified to be sustainable.
We don’t know the story behind our seafood
- Most developing nations do not collect adequate catch data
- Traceability is not possible for many seafood products
- Data is not flowing efficiently (if at all) across supply chains
What is Fishcoin?
A decentralized network of tools for data capture
In the past the seafood industry, to a large extent, avoided the exchange of data altogether because neither governments, nor consumers, required such data. This is rapidly changing however, and with the US Seafood Import Monitoring Program, chain of custody records will be required for seafood prior to import beginning January 1, 2018. In a global industry comprised of disconnected stakeholders this represents a problem because supply chain actors must coordinate around a single tool or standard for data capture and transfer. Thus, the Fishcoin network is not an application, but a series of APIs and SDKs designed for existing industry tools that can be utilized by third party developers who wish to integrate their applications.
A tokenized incentive to capture and communicate data along fragmented supply chains
Supply chain stakeholders such as fishermen and processors can receive Fishcoin Tokens in exchange for providing data, and the tokens will be the mechanism to reward them for their additional effort in capturing data. The flow of Fishcoin Tokens moves from buyers to sellers in the supply chain, which creates a virtuous cycle rewarding those who make the extra effort to capture data such as fishermen and supply chain intermediaries. This rightly shifts the economic burden to downstream actors in the supply chain such as hotels, restaurants and retailers who benefit most from traceability and other data as they can use such data to validate the quality of their seafood to consumers.
An interoperable suite of tools designed by seafood industry insiders
While there are other blockchain based traceability platforms that have emerged to address the very real supply chain problems that span industries, the seafood industry in particular has unique needs that can only be addressed by those with insider knowledge based on the realities of actual trade. This is where the Fishcoin team and advisors are uniquely qualified to develop and deploy an ecosystem of this kind. Our team is a unique group of sustainable seafood, supply chain and technology experts each with decades of experience in each of our respective fields. This unique collection of industry insiders have not only the experience, but the networks to deploy the Fishcoin token ecosystem in supply chains throughout the world.
The challenges of seafood supply chains cannot be solved by technology alone, but require a deep understanding of the social and financial issues that govern the motivations of various stakeholders. Our team's long experience facilitating traceable and sustainable seafood trade with institutional buyers allows us to understand the full range of the issues involved as we deploy technologies that will transform the industry.
Seafood Traceability Powered By The Blockchain
- An ERC20 token that incentivizes data sharing
- Chain of custody stored on Ethereum blockchain
- Pre-built tools and APIs for integrating existing systems and even IoT devices
The Fishcoin Token Sale
Fishcoin Tokens will be allocated with the objective of raising funds to develop the network, seeding the market to ignite usage, and aligning the interests of the various stakeholders including early contributors, project team members and advisors. Each of these groups will receive an allotment of tokens according to their contribution to the ecosystem.
Tokens allocated to the Project Team, Reserve and Advisors will be locked with a linear 24 month vesting period. Marketing will include airdrops and bounties to seed interest and ignite the ecosystem.
A Brief History
1999 - Present
Fishcoin team members spend decades working throughout the seafood industry to advance the use of data for quality and traceability going back to Alistair Douglas’ tuna traceability and DNA profiling research in Tokyo's Tsukiji Fish Market.
Secretary of State John Kerry announces the mFish Initiative at the Our Ocean Conference
Fishcoin concept first envisioned with the help of Antanas Guoga, Member of EU Parliament.
Fishcoin is first publicly announced at the Our Ocean Conference in Malta.
Q1 - 2018
Fishcoin token sale
Q2 - 2018
Fishcoin network development and initial pilots of digital catch/harvest logs
Q3 - 2018
IoT pilots on boats and fish farms, and Fishcoin to mobile top-up exchange created to incentivize usage.
Q4 - 2018
Fishcoin network launch