JP Morgan Portfolio Company Partners with Blockchain Startup, Citizens Reserve, Run By Former Deloitte Boss, Eric Piscini.
Chris Frank and Cfx, Inc. are elated about Citizens Reserve’s recent partnership with Smartrac, a JP Morgan portfolio company dealing in the product digitization space. With Eric Piscini at the helm, Citizens Reserve will use its blockchain-powered SUKU supply chain platform to integrate with Smartrac.
Smartrac is one of the world's top players in the Radio-Frequency Identification (RFID) and Internet of Things (IoT) technology space. Smartrac's involvement spans many industries, such as food. According to a statement, "Smartrac is a JP Morgan major portfolio company and Alibaba recently took a minority stake to deploy enhanced brand protection solutions."
The partnership with Citizens Reserve looks to bridge Smartrac's technology into the blockchain ecosystem, connecting the digital and physical worlds. Adding blockchain to the supply chain also provides a new aspect of security and tracking. Blockchain has the potential to significantly cut down on tampering due to its immutable ledger.
The combination of Smartrac’s digital enablement capabilities along with Citizen’s Reserves’ SUKU platform will provide a unique identity for each physical product with a transparent and accessible supply chain solution.
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