Citizens Reserve, Inc., developer of the SUKU supply chain platform, has partnered with Dutch radio-frequency identification (RFID) and Internet of Things (IoT) company Smartrac.
Forbes reported that Smartrac, purchased in 2010 by JPMorgan-owned One Equity Partners, will be integrating blockchain technology in its products, to enhance security and tracking abilities. Its CTO, Dinesh Dhamija, said in an email, “The combination of Smartrac’s digital enablement capabilities along with Citizens Reserves’ SUKU platform will provide a unique identity for each physical product with a transparent and accessible supply chain solution.”
He added that SUKU will provide the means to ensure traceability and prevention of problems such as data tampering and counterfeiting. “We embedded transponders into physical goods in the raw materials stage, which allows for high traceability during the manufacturing and shipping processes. Complimenting RFID technology, blockchain is able to autonomously track physical goods through the whole supply chain process,” Dhamija said.
The SUKU platform uses both the Ethereum blockchain and JPMorgan’s Quorum, which is also based on Ethereum.
Citizens Reserve CEO Eric Piscini, a former senior manager and blockchain division head at Deloitte Consulting LLP, said they were developing a track-and-trace feature for Smartrac. “RFID tags are critical when you think about supply chain and what we do, we do supply chain on blockchain, and when you need to track an item using the supply chain, whether it’s components or it’s a final product, you need RFID tags, and the partnership is really for us to be able to provide a complete solution to our clients,” he said.
Piscini also said that the service will help create more trust in the marketplace, with every step of production and distribution tracked through an immutable ledger.
The collaboration will initially be limited to tracking meat products from farm to consumer, with testing for this planned until the end of March. Afterwards, both companies will select what other industries the technology could be applied to.
Piscini said, “We have a short-term strategy, which is the meat industry, and a long-term strategy which is pretty much every large industry that they [Smartrac] cover today,” adding that the food industry in general may be next.
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