Transaction Manager

Brackets

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

Our Transaction Manager uses Brackets®, cryptographically secure smart contracts governing an entire purchase cycle, to place financial transactions on the blockchain. Using the Transaction Manager, 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 on the blockchain. Data feeds, such as forecasts and BOMs currently communicated through point-to-point EDI messaging, can also be incorporated into Brackets. Smart contract triggers on the blockchain can remain partially manual or come from an IOT signal or a set of workflow operations determined by the user.

Other than digitize my financial transactions, what can the Transaction Manager do?

It provides a real-time, reliable audit of financial transactions that transcends ERP systems, bringing significant transparency for all participants and helping them build a more trustworthy and stable supply chain ecosystem.
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 on the blockchain.
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.
It scales previously laborious and paper-intensive insurance processes, including marine and cargo insurance and credit insurance. When combined with new financing opportunities on the blockchain, a company can easily build its own end-to-end supply chain finance program with maximum control and flexibility.

How do we track transactions with their inventory?

The Inventory Tracker and the Transaction Manager applications have been integrated through the blockchain to create a one-to-one association of inventory with its specific supply chain transaction. This integration opens the possibility for:

A perpetually reconciled window into daily transactions that affect inventory
Fine-grained inventory procurement and control
Automated payments
Blockchain-based financing and insurance

Will transactions that run through the Transaction Manager be accepted in the wider financial ecosystem?

The Transaction Manager and Brackets executed 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, ICC, WTO and other 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.