Industry-agnostic, blockchain-powered supply chain solution
Citizens Reserve, Los Gatos, Calif., unveiled SUKU, an industry-agnostic supply chain solution aimed at tackling the issues of transparency, efficiency and product visibility in legacy systems.
The SUKU ecosystem intends to provide access to real-time, transparent data around the precise location of goods, privacy of partners, a bid and order marketplace, auditability of activities and the automation of contractual agreements.
SUKU’s unique “supply chain-as-a-service” concept displays the precise location and status of goods in real-time, provides companies with access to new marketplaces and technologies and better connects suppliers, manufacturers, distributors and retailers.
The SUKU platform anticipates the use of two blockchains—Ethereum and Quorum—to maximize the benefits of both networks. The public Ethereum blockchain, used extensively for smart contract deployments, is expected to handle supply chain payments. The Quorum blockchain aims to facilitate transactions such as bids and offers where confidentiality is critical. The platform’s built-in transparency and auditability also projects to empower more socially responsible practices amongst trading partners by providing greater awareness about the provenance and origin of goods.