Sustainable Development of Seafood Supply Chains via Blockchain Technology: Innovation Adoption and Implementation by Businesses and Entrepreneurs

ABSTRACT We investigate why and how businesses and entrepreneurs adopt and implement blockchain technology to improve the economic, environmental and social sustainability of seafood supply chains. We conduct interviews with entrepreneurs and small‐ to medium‐sized enterprises (SMEs) – specifically fishers, aquaculturists and restaurants – using new blockchain platforms to increase the traceability and trackability of seafood in Australia. Drawing on innovation adoption theory, we examine drivers and barriers to trading seafood via these innovative platforms, compared to traditional trading routes – such as through wholesalers. Benefits for seafood buyers included greater freshness, less waste, value‐adding the customer experience and supporting locally sourced products. Benefits for sellers included price security and transparency, and the marketing and branding opportunities that the platforms enabled through social media. Challenges regarded distrust, competition, uncertain product availability and the tangibility of seafood, which – unlike cryptocurrency – requires transport, packaging and processing, meaning potential efficiencies could become constrained by supply chain logistics.