Startups
Citizens Reserve is building a supply chain platform on the blockchain
Citizens Reserve, a Bay Area startup, has a broad goal of digitizing the supply chain. Last fall, the company launched the Alpha version of Suku, a Supply Chain as a Service platform built on the blockchain. Today, it announced a partnership with Smartrac, an RFID tag manufacturer, based in Amsterdam, as a key identity piece for the platform.
Companies use RFID to track products from field or factory to market. Eric Piscini, CEO at Citizens says this partnership helps solve a crucial piece of digitizing the supply chain. It provides a way to trace products on their journey to market, and ensure their provenance, whether that is to be sure no labor was exploited in production, environmental standards were maintained or that the products were stored under the proper conditions to ensure freshness.
One of the big issues in track and trace on the supply chain is simply identifying the universe of items in motion across the world at any given moment. RFID tagging provides a way to give each of these items a digital identity, which can be placed on the blockchain to help prevent fraud. Once you have an irrefutable digital identity, it solves a big problem around digitizing the supply chain.
He said this is all part of a broader effort to move the supply chain to the digital realm by building a platform on the blockchain. This not only provides an irrefutable, traceable digital record, it can have all kinds of additional benefits like reducing theft and fraud and ensuring provenance.
There are so many parties involved in this process from farmers and manufacturers to customs authorities to shipping and container companies to logistics companies moving the products to market to the stores that sell the goods. Getting all of the various parties involved in the supply chain to move to a blockchain solution remains a huge challenge.
Today’s partnership offers one way to help build an identity mechanism for the Citizens Reserve solution. The company is also working on other partnerships to help solve other problems like warehouse management and logistics.
The company currently has 11 employees based in Los Gatos, California. It has raised $11 million, according to Piscini.
-
Business7 days ago
London’s first defense tech hackathon brings Ukraine war closer to the city’s startups
-
Entertainment7 days ago
Mark Zuckerberg has found a new sense of style. Why?
-
Business7 days ago
Humanoid robots are learning to fall well
-
Entertainment6 days ago
2024 summer TV preview: 33 TV shows to watch this summer
-
Business5 days ago
Google Gemini: Everything you need to know about the new generative AI platform
-
Business3 days ago
Haun Ventures is riding the bitcoin high
-
Entertainment5 days ago
‘Bridgerton’: Everything you need to remember before Season 3
-
Entertainment3 days ago
Hands-on with the Claude AI app: It’s pleasant to use, but janky