SUKU

Overview of SUKU

  • SUKU, a blockchain-powered, Supply Chain as a Service ecosystem, announced that they are the first organization to leverage the Hedera Token Service (HTS) and Hedera Consensus Service (HCS), having migrated their product suite from Ethereum to Hedera Hashgraph to benefit from the speed, security, stability, and governance that the third-generation distributed ledger platform provides.
  • SUKU has also built a consumer-facing verification tool that authenticates the provenance of goods from origin to final product, allowing participants to track and access the archive of information, and includes a wallet function to pass on rewards to intermediary players along the supply chain.
  • Suku Passi has potential for a large-scale discovery and is conceptually like Brothers, where pre-drilling exploration projects that have had artisanal mining in recent years uncovered high-grade quartz veins, hosted in the greenstone belt of the Guiana Shield.
  • SUKU’s Omni platform will be the second to migrate to Hedera and aims to become the universal symbol of truth for consumers and brands, making commerce more transparent and efficient through the power of blockchain and distributed ledger technology.
  • SUKU is the link between open finance, traceability, and transparency — through their trio of product offerings, SUKU OMNI, INFINITE, and DeFi, they connect companies with conscious consumers and enable supply chain finance.
  • SUKU had initially evaluated Ethereum as their first choice to power its platform; however, they ran into high transaction costs, lackluster performance, and uncertainty long-term governance stability (forking).
  • SUKU evaluated various permissioned and permissionless blockchain frameworks to power its INFINITE platform for product authenticity — they took issue with gas costs associated with deploying and trading NFTs.
  • SUKU needed a cost-effective, secure, and scalable way to prove digital and physical product authenticity and ownership by brands and customers within marketplaces that require a high degree of trust.
  • SUKU’s platform and marketplace allows consumers to find transparent, verified products and make informed purchasing decisions, connecting brands and retailers to this untapped $1T Market.
  • suku (Jawi spelling سوکو‎, plural suku-suku, informal 1st possessive sukuku, impolite 2nd possessive sukumu, 3rd possessive sukunya)

    • Blockchain

    Omni is currently being leveraged by global brands including Cencosud, the third-largest retailer in Latin America, to trace products from raw materials to finished goods and through the lifecycle of product ownership.The Omni platform suite is composed of four core product offerings: Omni Engage + SUKU Scanner App, Omni Discover, Omni Sustain, and Omni Link.This allows brands to offer differentiated, transparent products with attributes that consumers can view and verify through the SUKU distributed ledger.

    Support

    Mance Harmon, CEO and co-founder of Hedera Hashgraph, said, “SUKU is transforming consumer markets by providing brands and retailers with the tools they need to meet rising demands for product authenticity and supply chain transparency.They have proven their ability and technical expertise to onboard large corporations and brands to help them connect with conscious consumers.We are incredibly excited to announce SUKU as the first platform to migrate to Hedera Token Service, and we look forward to continuing to support SUKU’s first-of-its-kind offering with the speed, scalability, and security enabled by our distributed ledger technology.”

    Transactions

    “As we expanded the capabilities and use-cases for SUKU, it became clear to us that the cost of doing these transactions on Ethereum was prohibitively expensive at scale,” said Yonathan Lapchik, CEO of SUKU.“Our vision is to become the predominant supply chain platform, serving millions of brands and billions of participants and consumers around the world.After a thorough review, it became clear that the Hedera network was the only option that will be an enabler, not a roadblock, in making that vision a reality.”We needed this platform to run on a distributed ledger that would meet our scalability and cost requirements.

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    What are VitalSource eBooks?

    Routledge & CRC Press eBooks are available through VitalSource.The free VitalSource Bookshelf® application allows you to access to your eBooks whenever and wherever you choose.

    What is the average Suku lifespan?

    Average Suku life expectancy in 1986 was 62 years.This was lower than the general public life expectancy which was 73.

    History of SUKU