How SeaChain Works
IoT Chip Integration:
When a lobster is caught, an IoT chip is securely attached to it. This chip serves as a digital identifier, uniquely tagging the lobster within the SeaChain ecosystem. The chip is equipped with sensors that capture crucial data points such as location, temperature, and time.
Flow Diagram:
Data Collection and Transmission:
As the lobster makes its journey through the supply chain, the IoT chip continuously collects and transmits data in real-time. This data includes information about the lobster's origin, handling conditions, and transportation routes. Each data point is encrypted and stored securely on the blockchain.
Blockchain Verification:
The data transmitted by the IoT chip is recorded on the SeaChain blockchain. This immutable ledger ensures transparency and integrity throughout the supply chain. Stakeholders, including consumers, retailers, and regulators, can access this blockchain to verify the authenticity and quality of the lobster.
Certification Generation:
Based on the data collected from the IoT chip, SeaChain automatically generates certifications for the lobster. These certifications provide detailed information about the lobster's journey, including where it was caught, how it was handled, and its compliance with industry standards and regulations. Certificates are minted as NFTs, ensuring uniqueness and tamper resistance.
Product Lifecycle Management:
Throughout its lifecycle, the lobster's data is continuously updated and synchronized with the blockchain. From the moment it is caught to the point of consumption, stakeholders can track the lobster's status in real-time. This visibility enables proactive decision-making, such as optimizing transportation routes to maintain freshness or identifying potential quality issues.
Tokenomics:
Within the SeaChain ecosystem, SEA tokens serve as the native currency. SEA tokens are used to fuel transactions and incentivize participants in the supply chain. For example, fishermen earn SEA tokens for attaching IoT chips to lobsters, while consumers can use SEA tokens to purchase certified seafood products. Additionally, validators who verify the accuracy of data on the blockchain are rewarded with SEA tokens, ensuring the integrity of the ecosystem.
