The Covid Conundrum: Trading Amidst a Crisis
The coronavirus pandemic turned the world of trade upside down in 2020. Businesses faced unprecedented hurdles, leading to strained global trade networks. However, amid these challenges, a silver lining emerged in the form of blockchain technology. Companies have begun adopting this innovative solution to modernize and digitize their supply chains, creating a more resilient trading landscape.
Sustainability Takes Center Stage
In a world increasingly enamored with sustainability, consumers want more than just pretty labels. They demand transparency regarding the products they purchase, and brands are eager to meet these expectations. Enter GoChain, a company making strides in traceability through high-profile partnerships aimed at ensuring the integrity of their offerings.
Two Hands and the Lobster Connection
In May, GoChain’s blockchain protocol hit the marine scene, teaming up with Two Hands to trace Southern Rock Lobsters from the depths of Australia to the bustling tables of Shanghai. Each lobster received a high-tech tamperproof smart tag, tracking its journey every step of the way. Imagine chefs selecting their seafood not just by price but knowing exactly where it was harvested—that’s a game changer!
Building Trust Through Transparency
Blockchain’s ability to offer traceability is crucial, especially in regions plagued by food safety issues. With the right technology, businesses can foster a new sense of trust with consumers, potentially commanding higher prices for fresh produce while easily identifying supply chain hiccups. GoChain’s CEO, Henry Ines, emphasized the pandemic-induced need for tech-driven solutions to combat these evolving challenges.
Environmental Guardianship
GoChain isn’t just about seafood; the application of their technology extends widely, as showcased in October when Pronatura Noroeste kicked off a pilot project for tracking seafood sustainability. With fish stocks dwindling, this initiative is crucial for cultivating responsible fishing practices. As Dr. Gustavo D. Danemann noted, traceability tools can illuminate the journey of every seafood product and incentivize better practices.
Beyond Food: Energy Sector Innovations
In December, GoChain’s impact reached the energy sector when Enviva reported the successful tracking of over 1,000 biomass shipments using this blockchain platform. They chose GoChain for its green credentials, relying on a proof-of-reputation consensus mechanism that is far more eco-friendly than traditional proof-of-work methods. It seems even the energy giants are getting a taste of sustainability!
