Former Deloitte Employees Launch Blockchain Supply Chain Platform

A blockchain startup founded by former Deloitte employees has released to the market a new supply chain platform. The information has been released on Wednesday. The platform is known as SUKU and the company presents it as the future of supply chain.

According to the firm, the new platform is ‘an industry agnostic supply chain solution.’ The intention is to improve how shipments are coordinated and tracked in different countries. The platform will be based on the Ethereum blockchain and Quorum blockchain.

Companies using the platform will have real-time data on the location of some goods. The platform is designed to offer privacy to users.

The company’s CEO, Eric Piscini, said that the supply chain must be improved due to different problems experienced all over the world.

About it he mentioned:

“The current supply chain environment is complex and difficult to navigate. Almost all enterprises require a supply chain to some extent, but the technology supporting them remains expensive, inefficient and fragmented.”

Additionally, the platform will be built to work in as many industries as possible. This would enable businesses to interact in a way that has been impossible.

The decision to use Ethereum is relate to the fact that the platform will be using smart contracts. Additionally, payments would be automatically executed if certain criteria are fulfilled.

At the same time, Quorum would allow the blockchain to be permissioned. That means that it will act as a private marketplace for vendors and biders.

The company wants to offer a simple way for companies to deal with a supply chain in different countries, with different companies and several transactions. Moreover, participants will experience a greater integration and improve data standards for business interactions.

The platform includes a native token that will be powering the different services in the ecosystem. Furthermore, the token will work as an incentive for those users that act positively.