Assessment of the Blockchain Capabilities to Combat the Global Trade in "Falsified" and "Illegal" Fish Products

Abstract

Since, wild fisheries continue to be depleted throughout the world and illegal and falsified products are included in the supply chain, there is a need for innovative technological solutions to ensure global food security. We conducted a multidisciplinary review of information technologies and general academic literature and found that Blockchain Technology (BCT) is an effective mechanism to limit the access of illegal and falsified fish products to commodity markets as an additional solution that improves the exchange of information and data collection. The results of the research established that this technology of the new generation is still at the stage of maturation and its introduction is fraught with many problems that cannot be ignored. However, the features and prospects of BCT, considered in the practical part of the work as well as the existence of successful cases in the analyzed area, confirmed the need of the blockchain for the supply ecosystem and the industry’s interest in investing in new digital technologies based on distributed registers and their integration into the business processes of the world market participants.