Brackets

Brackets

Smart contracts enable the continuous flow of transactions and data and, ultimately, fine-grained automation across a supply chain with precise control.

Brackets® are cryptographically secure smart contracts governing an entire purchase cycle.

Using Brackets, an enterprise is able to digitize its POs, Invoices, Bills of Lading, Letters of Credit or any documentation involved in a supply chain transaction and automate execution of those instruments based off secure triggers. Data feeds, such as forecasts and BOMs currently communicated through point-to-point EDI messaging, can also be incorporated into Brackets. Triggers on a smart contract can remain partially manual or come from an IOT signal or a set of workflow operations determined by the user.

Brackets provides a number of key advantages.

  • It facilitates lending by financiers against well known trade instruments such as POs, Invoices, Inventory Assets and Payment Obligations. The resulting loans become collateralized assets whose performance can be assured through automated release of funds triggered by real-world events.
  • It provides a real-time, reliable view of the transaction state that transcends ERP systems, bringing significant transparency for all participants and helping them build a more trustworthy and stable supply chain ecosystem.
  • It enhances liquidity of collateralized assets in a supply chain by improving upon current trade finance instruments such as Factoring, PO Financing and Vendor Managed Inventory Financing. It also creates the opportunity for Deep-Tier Financing.

Brackets was the technology behind the world’s first trade finance transaction on the blockchain. Since then, Skuchain has integrated with banks’ legacy trade finance systems to facilitate the adoption of blockchain technology in the trade ecosystem. We also continue to lead efforts, along with our partners in the Bankers Association for Finance and Trade and global trade governance bodies, around standards-setting and building the policy and regulatory infrastructure necessary to support blockchain trade instruments such as Data LCs and customs documentation. Our ultimate goal is to realize the vision of global trade on the blockchain.

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