New Bedford, Mass, Dec. 01, 2020 (GLOBE NEWSWIRE) -- New Bedford-based startup KnowSeafood is launching a game-changing direct-to-consumer online seafood market using blockchain technology to bring traceability and trust to the seafood chain. American consumers can now purchase a variety of sustainable, natural seafood and track it from the moment it’s caught or landed to the moment it’s delivered to their door.
In the U.S., seafood typically goes through an average of four to seven middlemen before it arrives in grocery stores, and 90% is imported. But as much as half of that is actually American-caught seafood being reimported to the U.S. after being processed overseas—often in China or Southeast Asia. Such a long and complicated supply chain inevitably leads to more middlemen with no way to trace its provenance. This often results in mislabeling and rampant fish fraud—for example, 25 percent of seafood in New York stores was mislabeled, according to an investigation by the state’s Attorney General.
KnowSeafood builds traceability into the food chain by cutting out the middlemen and working directly with trusted global harvesters who share the same high sustainability standards. Each piece of fish is shipped directly from trusted harvesters to KnowSeafood to the consumer, removing middlemen and opportunities for mislabeling. Every harvester is required to adopt the use of blockchain technology, which further ensures traceability and provides the end consumer with complete transparency.
Innovative blockchain technology from VeChain underpins KnowSeafood’s sustainability and traceability guarantee. KnowSeafood supply partners upload harvesting, processing, and shipping information using VeChain ToolChain; the data is immutable and cannot be changed, ensuring every detail of when and where it was caught, processed, and shipped is accurately recorded, building trust directly into the food chain.
KnowSeafood works only wit...