Over time, cryptocurrency and blockchain technology has managed to prove their potential not only in finance but in other sectors as well. With time, blockchain technology has gained enough advancement and enough ground that it is being adopted in different sectors.

After the finance sector, other sectors that are using blockchain technology include sports, music, medical, and logistics. This time, it is a seafood company that has decided to track its performance with the help of blockchain technology.

According to the reports, Nueva Pescanova Group has made an announcement in regards to its adoption of blockchain technology. The Nueva Pescanova Group is a seafood firm based in Spain and has announced its partnership with IBM.

The seafood company has announced that with their partnership, it will be able to utilize the Food Trust platform powered by IBM. The Food Trust platform is a ledger technology used for distribution that is used for the traceability of the supply chain.

With their partnership, the company would be able to introduce many developments and advancements in its supply chain sector. Both firms confirmed their partnership via an announcement they made on Tuesday, June 8, 2021. IBM has also confirmed that their partnership is close to being finalized.

Once the partnership is struck, the seafood company will be able to use blockchain technology to track the fishing activities for shrimp in Argentina. The company will also be able to track the cultivation of prawns in Ecuador.

Blockchain technology is known for its traceability and offers great developments and adaptability. Therefore, Nueva Pescanova Group is ready to adopt the technology wherever it can to improve its work efficiency.

The CEO at Nueva Pescanova Group, Ignacio Gonzalez also talked about the recent deal struck between both companies. Gonzalez stated that with the help of blockchain technology, the company would be able to increase its tracing abilities.

The company would be able to keep complete track of prawn cultivation and shrimp fishing. The data it manages to collect with the help of blockchain technology would help it meet the Global Dialogue of the United Nations. The company would be able to provide the data and trace it to meet traceability standards.

Gonzalez stated that their aim is to keep their consumers provided with detailed and rigorous information in terms of seafood products. With the adoption of blockchain technology, the company would be able to pinpoint exactly how many products it has collected and produced.

Blockchain technology would greatly improve the performance of many of the sectors it is currently operating. Some of the major sectors it currently oversees include distribution, processing, production, and cultivation of seafood.