Citizens Reserve, Los Gatos, Calif., announced a partnership with Smartrac Technology Group, The Netherlands, to implement Citizens Reserve’s SUKU blockchain solution to improve the track and trace of goods from supplier to retailer.
The partnership will use Smartrac’s RFID tags and Smart Cosmos, the company’s Internet of Things (IoT) solutions platform, to assign physical items a digital identity that can be carefully and accurately traced along the entire supply chain. Teaming up with SUKU will also offer existing Smartrac clients an accessible entry point to provide even more transparency, traceability and security to their businesses through SUKU’s immutable and decentralized ledger.
“Our partnership with Smartrac marks an important milestone in the implementation of our SUKU platform,” says Yonathan Lapchik, chief information officer for Citizens Reserve. “Smartrac will allow full traceability within the SUKU ecosystem, as well as help launch widespread enterprise adoption of SUKU by opening the door to Smartrac’s established and diverse network of partners.”
“Blockchain technology helps lay the foundation to build a more transparent supply chain solution, and now, with the integration of other technologies such as RFID, including NFC and RAIN RFID, as well as the IoT through Smartrac, we are able to deliver on our mission of being the most effective supply chain solution for businesses moving product from supplier to retailer,” adds Eric Piscini, chief executive officer for Citizens Reserve.
“We are thrilled to be working with the Citizens Reserve team to incorporate our leading, high-quality RFID transponder and our Smart Cosmos IoT solutions technology and expertise into SUKU’s blockchain-based network,” says Dinesh Dhamija, chief technology officer of Smartrac. “They have created a user-friendly blockchain solution, which ensures that both companies can further help optimize digitization and tracking for various industries and their respective supply chains.”