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Citizens Reserve, Smartrac unite to improve blockchain-based supply chain platform SUKU

Tony Zerucha

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Citizens Reserve, the high-tech startup that recently unveiled “supply-chain-as-a-service” platform SUKU, has announced a partnership with Smartrac Technology Group, a global market leader in radio-frequency identification (RFID) products and IoT solutions.

SUKU, which will utilize blockchain technology to make supply chains more efficient, transparent, and secure, aims to improve the track and trace of goods from supplier to retailer. The partnership with Smartrac will make this capability a reality by using Smartrac’s RFID tags and the company’s IoT solutions platform Smart Cosmos to assign physical items a digital identity that can be carefully and accurately traced along the entire supply chain– from meat, to vaccines, to consumer technology products. Additionally, teaming up with SUKU will 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,” Citizens Reserve CIO Yonathan Lapchik said. “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,” Citizens Reserve CEO Eric Piscini added.

SUKU launched in September 2018 with the mission of providing an industry-agnostic ecosystem to upgrade former supply chain solutions. The integration of Smartrac’s IoT solutions will make it possible to track RFID tags embedded in or attached to products as they move from one place to another, with SUKU automatically recording every transaction on the blockchain. The combination of these sophisticated technologies will make it easier for any organization to assign each product its own irreversible identity, which cannot be faked, copied, or lost, due to the immutable nature of blockchain technology, in addition to providing a lower barrier to entry to blockchain implementation through SUKU’s custom blockchain-as-a-service platform. Moreover, consumers will be able to track the history of an item they are considering purchasing, beyond what is currently available with barcode technology, making the opaque B2B supply chain market comprehensible to the B2C market.

Smartrac is working with top brands and manufacturer of branded products across the globe, providing both ready-made and customized offerings making products ‘smart,’ and enabling businesses to identify, authenticate, track products and solutions. SUKU will work with Smartrac in a variety of industries including electronics, oil, gas, and agriculture.

This news follows the recent announcement that Citizens Reserve partnered with Blockdaemon, a blockchain orchestration platform, to support enterprise adoption of SUKU by allowing customers to easily deploy nodes and connect to their blockchain protocol of choice within minutes. Citizens Reserve’s partnerships with both Smartrac and Blockdaemon, leveraging Ethereum and Quorum (J.P. Morgan’s enterprise-focused version of Ethereum), provides the necessary foundations to further accelerate SUKU’s development and drive adoption by trading partners, pushing the company closer to its official launch expected in Q1 2019.

Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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