Market Overview

Rapid-Fire Pitch: SUKU's Blockchain-Based Supply-Chain-As-A-Service

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SUKU is "a blockchain-based ecosystem that aims to make supply chains more efficient, transparent, and collaborative by offering a supply-chain-as-a-service platform to enterprises," according to the company's website. SUKU is a member of the Ethereum Enterprise Alliance, the Chamber of Digital Commerce, and the Blockchain in Transport Alliance.

FreightWaves first reported on SUKU in September 2018.

SUKU's technology has a layered architecture: if the ‘bottom' layer is the cloud-service provider infrastructure that hosts and operates nodes, the SUKU blockchain protocol would be the next one up, followed by SUKU core, "a set of core supply chain features used directly by trading partners," and finally a "top" layer of SUKU apps and services. Because SUKU's protocol will be open-source, a community of developers will be able to build their own add-on features and applications that can run on the network powered by SUKU tokens.

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The team building SUKU plans to use two networks, Ethereum and Quorum, in order to handle different tasks. Ethereum is probably best suited to handle smart contracts, while Quorum's permissioned structure will make it easier to maintain confidentiality for processes like bids and offers.

At MarketWaves18 in Dallas last November, SUKU demonstrated its platform in front of a live audience of about 1,000 executives from the transportation, tech, and finance industries. 

"Counterfeit goods are pervasive in every industry and every sector, and it's not just food and it's not just consumer goods—it's also electronics and even vaccines," said Martin Kaczynski, SUKU Director of Product and Operations.

After introducing the technology, Kaczynski went on to explore SUKU's decentralized procurement process, which involves the create of ‘interests' rather than traditional request-for-proposals. 

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Posted-In: Blockchain Freight Freightwaves Supply Chain supply chain managementNews Markets Tech

 

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