Blockchain startups have begun finding solutions towards the challenging issues of product digitization. The market-leading companies are backing these budding firms which are about to bring major changes in the global trade practices with their innovative ledger based solutions. This comes true with startup firm dubbed as Citizens Reserve led by a former renowned Deloitte executive, Eric Piscini.
JP Morgan portfolio company Smartrac has collaborated with the firm of former Deloitte boss in order to develop and deploy product digitization. Citizens Reserve is leveraging their blockchain-enabled platform SUKU in order to improve the track & trace of goods through the use of Smartrac’s RFID and IoT solutions. The alliance will serve as a mutual help-hand for both the companies as they will swap the technologies with each other. However, Citizens Reserve as of now will first deal with Smartrac in their meat industry, monitoring and tracking their origins and their way to customers.
Smartrac Chief Technology Officer Dinesh Dhamija stated that this is a unique combination of Citizens Reserve’s SUKU platform and Smartrac’s digital enhancement potential which will help in assigning a unique identity to the physical products in a supply chain for a transparent and easy operation as mentioned by Forbes. Smartrac has its business expanded in so many domains and it is speculated that Citizens Reserve’s blockchain platform SUKU might be seen in their other domains soon. Several other blockchain startups like Citizens Reserve have become prominent with such alliances and collaborations in recent times.
Industry Experts Join Blockchain Bandwagon
rtIn recent time, many big names have joined the blockchain industry like Eric Piscini. According to Coin Desk, former vice chairman of NASDAQ Europe, Hans-Ole Jochumsen who was retired last year has joined the Blockchain Startup Concordium. Switzerland based non-profit concordium is working for the development of crypto trade and blockchain industry.
Blockchain startups are definitely riding on a high-pace and it seems that it will claim huge success in the coming years.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]