A Dubai-based online market seeks to tackle seafood fraud, product mislabelling, and excessive pricing by connecting worldwide dealers with local customers through a one hundred percent traceable supply chain in partnership with Emirates SkyCargo.
The B2B platform referred to as Seafood Souq turned released in June through friends and begin-up founders Ramie Murray (Middle East shellfish farm Dibba Bay Oysters), Sean Dennis (US blockchain begin-up Loyyal), Denis Konoplev (UK-based AI platform Disperse), and Sheikh Fahim Al Qasimi (UAE company advisory and funding company AQ&P and department of government family members for the emirate of Sharjah).
Speaking to Arabian Business, CEO Dennis stated that a loss of transparency in the regional seafood market brought about Seafood Souq’s formation. “[There is a] loss of transparency and information within the market.
[The region] very a lot operates in a closed-off marketplace where if you want statistics, you must call up five or six distinctive vendors or suppliers… There’s no set manner of necessarily doing matters, no set way of conversation or medium for price…
“Difficulties are incumbent in conventional enterprise practices. Different events in the price chain don’t always talk to every difference, and the record isn’t always exceeded. If there’s one bad actor in that cost chain, then that impacts the stop consumer, and no person would be able to pinpoint the element that went down,” he stated. Users can sign on, browse, and llistmerchandise to the platform tforfree, though a fee price will follow wwhilea buy is made and could range from as little as 0 percent to as high as 12 ppercent, dependingon the kind of fish. While the service is presently confined to customers inside the UAE, it is possible to expand to different Gulf nations by the quit of the yr, in keeping with Dennis.