By 2048, the depletion of our oceans could be such that the wild caught fishing industry will be gone. The Oceans are dying and we are running out of time. A grim report from the United Nations' Intergovernmental Panel on Climate Change warns that if governments don't act on climate change soon, the damage on our ecosystem could be irreversible.
The Seafood Commons™ (SFC), in association with the World Ocean Observatory, is a collaborative social venture established by global seafood stakeholders across industry sectors, regulatory agencies, and society.
In defining the organizational and legal foundation to create a Purpose Driven Industry solution, Seafood Commons has partnered with US-based WishKnish, a trusted blockchain platform. This partnership will provide a secure foundation for an interoperable seafood industry supply chain and a new decentralized marketplace. It will set a worldwide standard for creating a network streamlining efficiencies in bringing together a fragmented industry. More importantly it will be doing its part in tackling the crisis of our oceans.
SFC's Memo of Understanding (MOU) will eventually become an "Intelligent Living Charter" for open-source interoperable standards to regenerate the world's oceans. It will be established and governed by seafood stakeholders across industry sectors, regulatory agencies, and society.
The potential to save the environment and feed 1 billion people a healthy protein meal every day.
The potential to save the environment and feed 1 billion people a healthy meal, every day
The ILC offers stakeholders governance, advanced collaboration and decision making tools, and open standards for innovation. It is designed as a seamless twenty-first-century intelligent infrastructure. This global infrastructure will connect local fisheries, communities, and regional ecosystem development programs with the Internet of Things (IoT) to scale with global traceability of seafood quality.
Stakeholders, research institutions, and consumers will be able to access a comprehensive system as a gateway to IoT. Users have access to Big Data and Analytics to develop predictive algorithms that can increase productivity and reduce the marginal cost of producing while delivering a full range of products and services.
This comprehensive approach breaks down the seafood industry's needs according to key layers and components. Key industry processes are mapped and their relationship to each layer can be fully understood and optimized by artificial intelligence and machine learning.
Applying sound management reforms to global fisheries in the dataset could generate annual increases exceeding 16 million metric tons (MMT) in catch, $53 billion in profit, and 619 MMT in biomass relative to business as usual. With appropriate reforms, recovery can happen quickly, with the median fishery taking under 10 years to reach recovery targets. Results show that common sense reforms to fishery management would dramatically improve overall fish abundance while increasing food security and profits. Further reforms bring collaborative efforts with new technology. Supply chain management on WishKnish will make the process of data sharing far more affordable and efficient while creating new revenue streams for fisheries.
"Using Blockchain for good has been one of the core principles of Wishknish, allowing us to create sustainable, efficient, and life-transforming solutions for the new world." Lisa Gus, CEO of WishKnish further states, "What an opportunity before us - this new ecosystem will enable sharing of details and logistics for environmental conservation efforts globally. Awareness of ocean regeneration is a worldwide movement, making a universal standard for our cause a very straightforward task."
This is the first partnership between the Seafood Commons and WishKnish. With ocean regeneration as their first collaboration, we can only wait to see what their future goals will be.
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