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ULedger partners with BGA Ltd to address overfishing and supply chain traceability in the $1.5T blue economy, leveraging blockchain to ensure sustainability.
DUBAI, EMIRATE OF DUBAI, December 7, 2023– In conjunction with COP 28 in Dubai, ULedger is thrilled to announce their partnership with Blue-Green Advisors (BGA Ltd), uniting BGA’s ocean-focused expertise with their blockchain and AI/ML technologies. Together, we’re tackling the Blue Economy’s challenges, which have long faced transparency and traceability issues.
The blue economy faces critical challenges, notably the misidentification, overfishing, and lack of traceability of the fish supply chain:
It is estimated that up to 90% of all large predatory fish, such as cod, sharks, halibut, grouper, tuna, swordfish, and marlin, have been depleted. This is due to overfishing, which is one of the most significant drivers of declines in ocean wildlife populations. The entire fisheries resource base has been reduced to less than 10% worldwide since 1950, with the onset of industrialized fisheries.
Product temperature throughout the supply chain journey can significantly impact the quality and safety of the fish. Cold storage is used to store a variety of fish products and is a key component of wholesale, processed export, and retail value chain activities in many countries. However, the cold chain can be broken in many places: on the way from fishery to processing, from processing to sales businesses, or from business to home. If the temperature of the fish rises too high, the speed of spoiling increases.
This collaboration aims to bring clarity and accountability to supply chains, enhancing sustainability and efficiency. By integrating BGA Advisor’s Solutions Navigator™ with ULedger’s ULedgerNET™ Data Integrity Blockchain technology, they’re crafting cutting-edge, transparent solutions for ocean conservation.
Their joint efforts will focus on meticulous seafood tracking from ocean to table, combating harmful marine practices, and addressing key Blue Economy challenges. This partnership marks a significant step towards a more transparent, accountable, and sustainable ocean ecosystem.
“Today, the blue economy market stands at $1.5 trillion and is expected to grow to an astonishing $24 trillion over the next three decades”, says ULedger CEO Joe Honan. “With this partnership, we hope to both fuel the blue economy and level the playing field by revolutionizing transparency, efficiency, and trust, paving the way for sustainable growth, increased profits, and a more resilient, healthy ocean ecosystem that works for everyone.”
“We look forward to working together to solve some real problems with the ULedger team. This partnership marks a pivotal moment in our journey towards a transparent and sustainable Blue Economy”, says Blue-Green Advisors Founder and CEO Stuart Green. “By merging ULedger’s technological prowess with our oceanic expertise, we are set to create groundbreaking solutions that will redefine industry standards and foster environmental stewardship.”
About ULedger:
ULedger is a data integrity company, that enables control, security, and data consistency for individuals, businesses, and enterprises. This is done through a suite of innovative, next-generation technology products that authenticate and verify interactions while maintaining data-privacy, built on top of a globally patented AI, machine learning, and blockchain-as-a-service (BaaS) platform that removes the complexity and capital-intensive infrastructure costs for organizations to create and deploy next-generation supply-chain solutions.
About Blue-Green Advisors:
Blue-Green Advisors is a world-renowned blue ocean consultant supporting the crafting of a thriving, sustainable future. They guide leaders through the complexities of ocean conservation, aiding them in making decisions that benefit both the environment and their bottom line. BGA provides services in ocean sustainability advising, empowerment and partnership building, future-proofing solutions, and innovation and tech lab.
This partnership represents an exciting step forward for both organizations, promising innovation, growth, and enhanced value for trust and integrity within ocean conservation.
