We’re working with WWF and UnionBank of the Philippines to improve traceability and sustainable fishing.
With some of the most popular species of fish, such as yellowfin tuna, currently at risk due to declining stocks, the importance of accurate data on catch yields for determining maximum sustainable yield (MSY) thresholds is more important than ever.
Furthermore, with an increasing number of identified cases on mislabelling of seafood products there is a need to improve data provenance throughout the entire value chain. In parts of South East Asia, people who fish for a living have no access to finance. To solve global problems such as these, a globally relevant and impactful solution is needed.
We’re developing Tracey, a blockchain-enabled, decentralised application (dApp) that unlocks the value of data by connecting it to consumers. It is the missing piece in the jigsaw that enables a self-sustaining ecosystem of capturing and disseminating accurate seafood traceability data in return for incentives. These are incentives that can have a material impact on the livelihoods of fisherfolk and their families.
Using blockchain, Tracey captures seafood product related data as it transitions through the value chain from point-of-harvest to final dinner plate. The incentivisation happens through direct data monetisation via the Streamr Marketplace where data is sold to third parties, and indirect monetisation, whereby institutions can access the data for free by agreeing to offer services such as micro-financing.
Ownership of the data rests with the data owner. Permissioning functionality within the App allows the data owner to decide who can access the data, the time period of access and the subscription fee. The data owners are under no pressure to open up access to the data. But if they want to access the benefits that non siloed data can bring, then Tracey is their gateway to achieving that.
In developing countries such as the Philippines, many fisherfolk are currently unbanked meaning they do not have bank accounts and as a result, access to institutional finance. This technology solution not only solves the issue of inadequate access to robust seafood traceability data, but it also helps transition unbanked individuals towards becoming bankable.
“What we have now is a paper base. We want to have electronic catch documentation which is why we are collaborating with providers like TX and Streamr”— Joann Binondo, Overall Project Manager, Sustainable Tuna Partnership, WWF Philippines