Together, the companies will complete an integrated blockchain IOT platform that combines Skuchain's blockchain-based EC3 platform with NTT DATA's iQuattro platform for systems integration. The resulting commercial solution, the companies say, will enable enterprises to capture the value hidden in their large supplier base with secure logistics management, cash flow relief, and collaborative inventory planning.
The new platform aims to address the numerous "friction points" that currently hamper international commerce, including the complicated and opaque mechanics of trade, paperwork, manual processes, and divergent standards. Above all, the companies say, supply chains are held back by imperfect and asymmetric information because vast pools of data are unavailable to parties to a cross-border transaction, resulting in increased costs, market failure, or the absence of markets where they would add enormous value.
The integrated blockchain IOT platform uses blockchain technology to manage and optimize all aspects of the supply chain, including Skuchain's Popcodes app for tracking and tracing goods that provides greater visibility and greater control over the supply chain. In addition, Skuchain's Brackets smart contracts app enables the continuous flow of transactions and data and, ultimately, fine-grained automation with precise control.
As a first step in their new partnership, Skuchain and NTT DATA have completed a pilot program with a large Japanese company and their supply chain in China using Skuchain's Popcodes track and trace system. The companies say that additional pilots are underway with other Japanese conglomerates, including for smart contract governance and inventory financing.
The integrated platform will be jointly marketed by Skuchain and NTT DATA to enterprises in Japan and other markets and deployed across their global supply chains.
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