SUKU, the brainchild of startup Citizens Reserve, is all set to employ the excellence of the blockchain technology in supply chain management. In order to achieve its aim, the company has announced its strategic partnership with Latin America-based firm, Centros Comerciales Sudamericanos S.A. (Cencosud).
According to the latest piece of information, the team-up between the two leading companies will help Cencosud’s subsidiary firm established in Peru named Wong in rendering the customers of the supermarket chain to enjoy transparency and traceability of the meat products they are consuming/purchasing. The solution has been curated to employ smart contracts for fostering payments and transactions via the Ethereum system. There will also be another blockchain- J.P Morgan’s Quorum- which will be permission-based. This new framework will give the vendors and customers a chance to transact in a secure private market space which will be studded with the principles of the DLT technology. The investors will be rewarded incentives in the form of SUKU token.
The blockchain-oriented solution, SUKU, takes pride in working as a “supply chain as a service.” The firm aims to allow the customers to maintain a track of the supply process of the meat they are purchasing from the supermarkets.
Yonathan Lapchik, the reputed CEO of SUKU, shared his views on the collaboration by saying that
This partnership with Cencosud marks a major milestone for the SUKU team as we showcase the power of blockchain to help consumers make more informed choices for themselves and for their families. Using the SUKU application at Wong, consumers will have access to transparent, verified products. It adds another level of trust to the products they know and love from Wong.
SUKU’s renowned advisor, Eric Piscini, stated that it had been the need of the hour to improve supply chain operations at first place in order to eliminate any possibility of unfavorable situations like China’s vaccine scams.
The current supply chain environment is complex and difficult to navigate. Almost all enterprises require a supply chain to some extent, but the technology supporting them remains expensive, inefficient, and fragmented,
As per Piscini, the solution was in an urgent need of “a blockchain that supports everything that we want to do. We’ve created a bridge between the two blockchains. We need the public for better records, but we also need the efficiency of the Quorum. It’s a solution we’ve created. We’re working on that today.”
“SUKU and blockchain technology are helping us further develop our relationship with our customers,” said Enrique Ameghino, who works as the commercial manager of perishables at Cencosud Peru’s Supermarkets niche.