SUNNYVALE, Calif., July 1, 2019 /PRNewswire/ -- Skuchain, the Silicon Valley-based blockchain company that provides an end-to-end platform for trade and supply chain, was selected among hundreds of candidates as one of the World Economic Forum's "Technology Pioneers". By using blockchain to strengthen collaboration across supply chains, Skuchain empowers enterprises to grow their share of $18 trillion in global trade. In the same way the Internet gave birth to e-commerce, blockchain provides the foundation for collaborative commerce, in which enterprises are uniquely able to work together to unlock gains while also expanding their control across the global value chain.
"We're excited to welcome Skuchain to this year's innovative class of technology pioneers," says Fulvia Montresor, Head of Technology Pioneers at the World Economic Forum, which holds its annual conference at Davos. "Skuchain and its fellow pioneers are leaders in using novel technologies to transform their industries. We see great potential for these next generation companies to shape solutions to global challenges and improve society for years to come." The full list of recognized Technology Pioneers is available here.
"We are honored to be a World Economic Forum Technology Pioneer," says Srinivasan Sriram, Founder and CEO of Skuchain. "Since our founding, our goal has been to leverage blockchain to realize the vision of collaborative commerce in trade and supply chain. By relentlessly focusing on the real-world needs of our customers, we are delivering innovation not simply in technology, but also in how supply chains do business and realize new value."
Skuchain provides enterprises a collaborative resource planning, or CRP, system on its blockchain-based EC3 platform. The EC3 enables the building of customized application modules, giving enterprises fine-grained control over production processes, inventory procurement and supply chain financing needs across their ecosystem. Skuchain's early customers include Mitsubishi Corporation, NTT DATA Corporation, Siemens AG, and some of the world's largest enterprises in electronics, automotive, aerospace and agriculture. Through its partnership with CGI and leadership role at the Banker's Association for Finance and Trade, Skuchain has enabled blockchain-based trade instruments for various banks, including MUFG, BMO, NBC and RBC, and shepherded the DLPC standard for all payment commitments on distributed ledgers.
The Technology Pioneers were selected by a selection committee of more than 59 academics, entrepreneurs, venture capitalists and corporate executives. The committee based its decisions on criteria including innovation, potential impact and leadership. Past recipients include Airbnb, Google, Kickstarter, Mozilla, Palantir Technologies, Spotify, TransferWise, Twitter and Wikimedia.
About Skuchain: Skuchain is a blockchain technology company that provides transparency, security and efficiency to the supply chain. The ecosystems built on its EC3 Platform represent the supply chain of the future across aerospace, food and agriculture, electronics, energy, auto, finance and other industries in East Asia, Europe, the US and Africa.
About World Economic Forum: The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas. (www.weforum.org).