Adeola Bakenne's Contact Details

Adeola Bakenne's Company Details

Fishcoin

Singapore, , Singapore • 9 Employees
Information Technology & Services

Fishcoin is a blockchain based traceability and data ecosystem designed specifically for the global seafood industry. It creates an incentive for data capture in various forms beginning with key data elements captured and communicated by fishermen and fish farmers at the point of harvest for the purpose of traceability. By addressing the critical incentive problem we are effectively creating an ecosystem for rewarding fishermen and supply chain intermediaries through micro- transactions, creating a virtuous cycle (carrot) for sustainable practices that extends beyond government mandates (stick) for traceability. The Fishcoin ecosystem is not a single application, but a series of decentralized open source tools designed to integrate with those used by the industry. By creating the appropriate reward structure for data capture along with an interoperable architecture, the Fishcoin ecosystem will allow for makers of third party tools such as IoT sensors and other data inputs to participate in the ecosystem and be rewarded accordingly. This will increase the velocity of data through supply chains and allow buyers to have a better understanding of the actual metrics that impact safety and quality.While other blockchain based traceability platforms have emerged to address the very real supply chain problems that span industries, the seafood industry has unique needs that can only be addressed by those with insider knowledge based on the realities of actual trade. This is where the team at Eachmile Technologies (https://eachmile.co) who are leading this initiative, are uniquely qualified to design and develop the Fishcoin ecosystem. Our long experience facilitating traceable and sustainable seafood trade with institutional buyers serves as a model and use case for a range of technologies developed for this ecosystem.