There are a lot of fish in the sea. Blockchain could help keep track of them.
This marketplace podcast is brought to you by hot cloud storage. If your company is thinking about moving data storage to the cloud, then you need think about with Sabi it's less expensive than just the maintenance on your current on premises storage. See for yourself with free unlimited storage for a month. Go to Assab dot com. Click free trial and use the offer code was Sabi. There are a lot of fish in the sea. Blockchain could help keep track of them from American public media. This is marketplace tech demystifying. The digital economy I'm jed Kim in for Molly would. Blockchain. It's the buzzword in startups. The digital transaction technology backs, the crypto currencies. We hear so much about, yeah, I'm talking about bitcoin, but business plans abound to give every industry of blockchain makeover. We're talking real estate drug prescriptions. My usual beat as a reporter on marketplace is sustainability and companies in that space. See blockchain as a way to verify every step of product takes Jason. Berry hill is doing that for sustainable seafood. I talked with him about a project called fish coin right now. He says the fishing industry operates in murky waters, seafood supply chains. Unlike many different commodities there very long and fragmented. And because of that, we lose track of where this seafood comes from. You know a lot of the seafood they think is coming from Alaska. It's Alaskan seafood, yes, but it it goes to China, I and it comes back here or elsewhere in Asia in berry hill says, the fix for this problem is data data collected. They reported at every turn. Concerned that seafood really is sustainable. He caught processed and sold, but it hasn't been easy if I may shrimp farmer in Indonesia, or if I'm a wild capture Fisher in in Asia, why am I going to take the extra effort to capture and communicate data about the seafood when it has zero impact on my lively enter fish coin boat captains shrimp farmers, warehouse workers, and others can get digital tokens in exchange for a reporting where they got their product and who they ended it off to. They can exchange this virtual currency for something of actual value credit on their cell phones. Each fish coin transaction is recorded on the blockchain, a shared leisure that is open, transparent and controlled by no one in particular. Berryhill says that last part is important because sustainable business depends on trust. I was at a conference recently, the global aquaculture alliance, and it has a lot of the major players in the in the seafood industry there. And I was on a panel and I was very. Thing. I said, if we created the perfect platform for traceability who in this room gets to own it, everybody kinda looks around. And then I said, what about a government are, is anyone here comfortable with the government, owning it and which government? So who gets to own the data flow? In other words, the problem is that there's no good answer that question. What blockchain does well is that it is will it can be a decentralized platform. It can be something where we can share data, but it's very unclear which particular individual owns it because it's shared ledger. That's where it has a lot of power, and that's where it's very appropriate for the seafood industry. Jason berry hill is with each mile technologies which designed fish coin. He says he doesn't have a background in seafood, but in telecom and it was working in the mobile payments market in Asia that got him into this world and the realization that while very few fishermen have a Bank account or a government issued ID almost all of them have a cell phone. I'm jed Kim, and that's marketplace tech. This is a PM.