Place/Date: Zug, Switzerland - September 11th, 2017 at 10:22 am UTC · 5 min read
Contact: Devin Shorey, Source:
The Sweetbridge Foundation, a non-profit aiming to leverage blockchain technology to power the next generation of global supply chain networks, has today announced that blockchain experts Vinay Gupta and Rob Knight have joined its Advisory Group. Drawing upon their combined decades of experience in the cryptocurrency, technology, and financial services spaces, Gupta and Knight will advise the project in a number of strategic areas, including blockchain technology and business development.
Gupta is best known for his work on the Ethereum blockchain, where he managed the initial launch of the project. In this role, he coordinated the public release of the blockchain that serves as the backbone of the world’s second-largest cryptocurrency by trading volume. Gupta also served as a strategic architect for ConsenSys Systems, a New York-based technology hub that focuses on the Ethereum blockchain and its applications. In addition, Gupta is a Partner at Hexayurt Capital, a leading technology-focused venture capital firm that pioneered the Internet of Agreements, a strategy for collaboration between policymakers and companies operating in the blockchain space.
Rob Knight is a Partner at Hexayurt Capital and a Co-Founder of Mattereum, a project that deploys legally-enforceable smart contracts to facilitate the sale, lease, and transfer of physical properties and legal rights. In addition, he is the Chief Technical Officer at Fluxus, a specialized consultancy for enterprise Drupal projects. Knight has also held technology leadership roles at prominent financial services companies and media organizations, including CMC Markets, Capgemini, and ITV.
Sweetbridge Advisor Vinay Gupta said: “Sweetbridge stands out as an exceptional blockchain project in a rapidly-growing and crowded space, and its singular mission and approach are the reasons why it is the first ERC-20 project that I have ever supported. I am impressed by its plan to solve long-standing and crucial issues in global supply chain management and its efforts to make meaningful and positive changes to the global economy. Rob and I are thrilled to be a part of a blockchain project of such unprecedented scope and vision, and we relish this opportunity to contribute to its success.”
Sweetbridge Foundation Founder David Henderson said: “We are very proud to welcome Vinay and Rob to the Sweetbridge Advisory Group. Their mutual expertise in a variety of disciplines, including cryptography, software design, commercial law, and security, are unparalleled. In particular, their years of experience in the blockchain space will be critical to Sweetbridge as we seek to apply this technology to transform the economics of the supply chain space.”
With $3.9 trillion in net working capital tied up in supply chains around the world at any given time, Sweetbridge is building a global Liquid Value Network of alliance partners who will use blockchain to solve the industry’s key issues of liquidity and resource underutilization. Sweetbridge’s blockchain-based protocols include a dual-token economy.
The first token, Bridgecoin (or BRC), the liquidity token, is used by members as a stable liquid asset for payments or easy exchange to a fiat currency when needed. The second, Sweetcoin (SWC), the membership token, will provide access to interest-free loans and no-fee services. These services include the use of the Sweetbridge commodity bridge that allows users to buy and sell BRC for fiat currency. The dual-token structure will allow companies and individuals to effectively borrow from themselves to generate inexpensive or no-cost liquidity while maintaining ownership and use of their assets.
There are four additional layers to the Sweetbridge Protocol: Settlement, Accounting, Resource Sharing, and the Optimization and Liquid Token System. These layers will eliminate settlement risk, provide financial transparency, and build trust among users of the system. In addition, the Sweetbridge protocol has built-in incentives to encourage asset sharing and network use. Included in these layers are the Sweetbridge Risk Management and Adoption Drivers, which use chargebacks, collateralized assets, trust intermediaries, and network fees to mitigate risk and insure against losses.
Henderson said: “Though supply chains manage two-thirds of the $75 trillion global GDP, they remain an incredibly inefficient industry. Among supply chain’s most critical issues is limiting days payable outstanding, or the time that it takes a company to pay invoices from its trade creditors. By tokenizing their assets through the Sweetbridge platform, suppliers can create their own liquidity to become more efficient and optimize available resources.”
The Sweetbridge whitepaper can be read at https://www.sweetbridge.com/whitepaper.
Sweetbridge Advisors Vinay Gupta and Rob Knight are available for interview.
Sweetbridge sponsors the development of blockchain-based economic protocols and applications to transform high-friction global supply chains into Liquid Value Networks. The Swiss-based non-profit foundation is gathering interested industry technologists, blockchain projects and open-source contributors from around the world to form a blockchain alliance. The shared goal is to transform brittle, industrial-era commerce through decentralized industry ecosystems that create a faster, fairer value exchange, unleash working capital, better utilize resources and optimize talent for the benefit of all participants.