ID FOOD and D3 Labs Collaborate to Pioneer Blockchain-Based Fisheries Technology Innovation

Published 5 months ago on October 05, 2023

by Rina Kurniawan

ID FOOD and D3 Labs Collaborate to Pioneer Blockchain-Based Fisheries Technology Innovation

ID FOOD, a state-owned food holding company, and D3 Labs, a blockchain-based fintech startup, proudly announce the signing of a partnership agreement aimed at fostering innovative developments in the fisheries industry in Indonesia.

Through this collaboration, which was signed in the presence of fisheries technology stakeholders from 29 countries, ID FOOD and D3 Labs are committed to driving innovation in the Indonesian fisheries sector through the utilization of blockchain technology. By harnessing the synergy between the two companies, they aim to enhance efficiency and transparency within the industry.

In his address, Trian Yunanda, the Secretary of the Directorate General of Wild-Catch Fisheries at the Ministry of Maritime Affairs and Fisheries, expressed his support for the partnership between ID FOOD and D3 Labs. He stated, “This collaboration is a positive step for the Indonesian fisheries industry. With the use of innovative technology, we can build a robust fisheries ecosystem that benefits all of Indonesia.”

Trian also emphasized the importance of innovation in the fisheries sector, saying, “Our fisheries industry must continue to innovate to address challenges such as climate change and increasing market demands. Therefore, this collaboration is expected to open doors to a new era of innovation in the Indonesian fisheries industry, one that is more sustainable, transparent, and competitive in the global market.”

Dirgayuza Setiawan, Director of Development and Business Control at PT Rajawali Nusantara Indonesia (Persero) ID FOOD, stated that this collaboration is expected to have a positive impact on fishermen, producers, consumers, and potentially create new opportunities through the use of innovative technology to support sustainable growth in the Indonesian fisheries sector.

“We recognize the importance of sustainability in the fisheries industry, especially in Indonesia, which is one of the world’s largest fish producers. In addition to improving efficiency and transparency, the use of blockchain technology can enhance productivity, the well-being of our fishing partners, and sustainability in the fisheries sector,” said Yuza. He stated that the collaboration with D3 Labs is a commitment to drive innovation in the fisheries industry, with the goal of improving efficiency, productivity, well-being, and sustainability in this sector.

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Through this collaboration, both companies hope to create a more transparent, sustainable, and efficient ecosystem for the entire fisheries industry. The blockchain technology introduced by D3 Labs will bring significant changes to the fisheries industry. This agreement reflects a shared vision to create a brighter and more sustainable future in this industry.

Meanwhile, Tigran Adiwirya, Co-CEO of D3 Labs, believes that this collaboration can bring about positive changes in the Indonesian fisheries industry and serve as an example for other countries in implementing blockchain technology in this sector.

“We are delighted to collaborate with ID FOOD. We believe that blockchain technology has tremendous potential to revolutionize the fisheries industry in Indonesia. In addition to enhancing transparency, this technology can also offer many benefits to stakeholders in the fish supply chain, including fishermen, producers, traders, and consumers,” he explained.

As a result of this collaboration, PT Perikanan Indonesia, a subsidiary of ID Food in the fisheries sector, will use D3 Labs’ application to establish the Indonesia Fishery eXchange (IFX), a real-time fish exchange platform with blockchain technology as a form of digitalization of conventional fish trade.

“With the implementation of blockchain, IFX will bring several significant benefits to the fisheries industry, including transparent stock monitoring and auctions, digital payments to facilitate transactions, KYC and account management to prevent transactions from fictitious buyers, and integration with digital sales markets abroad. This is a major step in transforming the Indonesian fisheries industry,” stated Tigran.

The collaboration between ID FOOD and D3 Labs not only marks a significant step forward in technological innovation in the fisheries industry but also represents a joint effort to realize a fair, sustainable, and responsible vision for the fisheries industry.