© 2019 Pesky

How we'll rebuild the industry with data

Using the data set of every fish landed and sold to help create an economically and ecologically sustainable industry.

Pesky’s most valuable long term asset will be the data set generated from the catch and trade of every fish through our platform. 

 

Over the coming months and years, supported by an ever growing volume of information, we will use this data to inform those within the industry to make better decisions while creating revenue generating services. 

 

Within the next 18 months, and supported by the influx of data from the procurement of the port, we will develop the first ever landings projection model to support our marketplace. While the first output will be relatively binary in its projection, by the end of this period, we will have developed it to produce: 

 

  1. Likelihood of landing - Will a specific species land or not within our network? 

  2. Quality of landings - Based on the introduction of our quality grading, what is the likely spread of good-bad quality based on who is currently out or forecasted to be out fishing for today’s supply?

  3. Quantity of landings - How much supply of each species will be landing?

  4. Price within the market - What is the expected price that the supply will make in the market based on live and anticipated catches

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Once the core data set has been built, we will look to commercialise a suite of services that may include:

 

  • Seafood market analytics - Providing buyers within the chain with the information to help them make informed decisions, looking at short, medium and long term forecasting. The Bloomberg of seafood.

  • Seafood derivatives market - With the ability to project landings on short, medium and long term basis - correlating historical landing information with global, regional and hyper-regionalised environmental data - we will be able to provide the market with sufficient information to base a futures market on. This will become a huge enabler to retail buyers who require more stable pricing to support their businesses.

  • Fishermen financial services - Offering or brokering the provision for short term loan facilities to cover costs such as crew or fuel, as WeFarm have attempted for farmers in Africa. Given that a boat’s entire cash flow will be running through Pesky, we will have the historical cash flow data to demonstrate a boat’s potential credit rating. These services could then expand into areas such as insurance, where our information could be used by external underwriters to measure a fishermen’s propensity to risk fishing in dangerous conditions. 

  • Quota allocation models - The biggest challenge in local and global fisheries management is a desperate lack of data to inform effective practices. Decisions are slow, often not made with with an informed balance of ecological needs of fish stocks as well as the economic needs of fishermen. However, with the data set of every fish landed and traded through Pesky, governments across the world will be able to see a radical explosion of regulation efficacy. Quota will be allocated, traded and refined in real time, enabling fish stocks the opportunity to recover and stabilise, while fishermen will be allocated access to sustainable levels of species that they may previously not have had access to. If implemented correctly, this will have the greatest impact on the long term sustainability of the global fishing industry for centuries to come.

  • Conservation research material - In addition to the opportunities surrounding quota allocation, our data set will provide the research community with the access to both data and vessels to inform more effective conservation.

 

There is currently nobody offering any of the services above. However, companies such as Google and Intel have already started to demonstrate the potential for their services to support supply chain sustainability - opening up the potential for partnerships.

Having spoken at length with the grant team at the European Space Agency, we will be applying for support to develop our data systems with the next 18 months, with up to EUR 250K of match funding. If successful, this will enable us to invest in additional human resource to collect and process the data, as well as exploring onboard hardware solutions that link with iVMS.