SUKU Ecosystem, a blockchain startup, in a recent Twitter post on Tuesday, Jan. 22nd 2019, announced its partnership with Smartrac, a manufacturer of high-security RFID (Radio-Frequency Identification) inlays, based in the Netherlands and backed by JP Morgan. SUKU Ecosystem, which is owned by Eric Piscini, a former Deloitte blockchain executive, is a subsidiary of Citizens Reserve also owned by Piscini.
As per the partnership agreement, SUKU Ecosystem will provide its SUKU platform, which will integrate the Smartrac supply chain. SUKU’s Ethereum (ETH) based platform, trades on Citizens Reserve’s own trademark cryptocurrency, ZERV, an ERC-20 standard compliant token, issued on the Ethereum blockchain.
According to Piscini, CEO, SUKU and Citizens Reserve, with this new partnership agreement with Smartrac, the company will be able to resolve major issues industry faces in terms of supply chain digitization. The new blockchain integration of SUKU platform and Smartrac supply chain will further enhance tracking, security, and transparency across the supply chain ecosystem.
According to Dinesh Dhamija, CTO of Citizens Reserve, the integration of SUKU’s platform and Smartrac’s digital enablement expertise will uniquely identify each physical product with the help of a transparent and accessible supply chain solution.
Smartrac is an IoT specialist and is the world’s largest supplier of e-passports inlays.