Fishcoin wants to use this technology for seafood supply chains to improve traceability in the industry . The company uses decentralised ledger technology to link fishermen and fish farmers , at the point of harvest , to supply chain actors such as consumers , processors and retailers . It also lets users get rewards via microtransactions . The UN Food & Agriculture Organization estimates that illegal , unreported and unregulated fishing nets about 11 to 26 million tonnes of fish each year , which is worth about $ 10 m to $ 23 m . In 2016 , about a third of worldwide fish stocks are overfished .
Fishcoin wants to use blockchain technology for seafood supply chains to improve traceability in the industry. The company uses decentralised ledger technology to link fisherman and fish farmers, at the point of harvest, to supply chain actors such as distributors, processors and retailers. It also lets users get rewards via microtransactions. The UN Food & Agriculture Organization estimates that illegal, unreported and unregulated fishing nets about 11 to 26 million tons of fish each year, which is worth about $10m to $23m. In addition, about a third of worldwide fish stocks are overfished.