A Blockchain project called SEAMON received an undisclosed amount. The project wants to develop an International Aquaculture Exchange called SEAMONX. The purpose of the exchange is to trade salmon and other aquatic products internationally. A cryptocurrency called Simon Coin will be used for the trading. BCEX is a multi-cryptocurrency Exchange platform headquartered in Vancouver, Canada. The Simon Coin got listed on the BCEX exchange.
The difficulty to maintain freshness of the aquatic products is common. Shipping accidents are frequent. Aquaculture exporters have to pay more for export guarantee insurances and receivables collections. An overdue payment is considered as the biggest problem for the trading. Mr. Simon wants to use the blockchain for recording the distribution channel. He also wants to use his own cryptography and smart contracts for real-time transactions.
The Popular South Korean actor and businessman Bae Yong-Joon has made an investment to the blockchain project. The head of the project Lee Jung-hoon said, “Mr. Bae has long been interested in food businesses such as marine products. I asked for participation as a CIMON Project Adviser, but signed an investment contract last month with the intention of investing, not as an adviser. I can not disclose the amount of investment, but invested a meaningful amount of money, not the level of tens of thousands of dollars, Coindesk Korea reported.
Lee Jung-hoon added, “Ocean Supreme, a Norwegian fishery company with the largest share of the Japanese salmon market, participated as a cymon pounder, and several domestic fishery importers have already entered into an agreement to trade through Cimonex. Starting from the Korean-Norwegian salmon trade, it will expand the country to China and Japan, and then expand the items to Canada lobster. Simon Coin will be used for international transactions at the same time as launching Simon X.”
The blockchain project SEAMON is an innovative global seafood trade system created to secure contracts as well as build mutual trust between the parties, according to an official website of Seamon Coin.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]