Liquid supply chain blockchain alliance Sweetbridge Inc.has acquired Aperio LLC, a blockchain platform for supply chain solutions.
Sweetbridge, who will fully absorb the Aperio brand, gains simplified data management capability, more transparency, and visibility of supply chain operations, automated workflows and enhanced product identity lifecycle management and tracking.
“The combination of Aperio’s stellar product data management capacity with the liquidity and trade currency capabilities offered by the Sweetbridge platform will allow us to take a critical leap forward toward global supply chains using blockchain for shared success,” Sweetbridge chairman and CEO Scott Nelson said.
“Sweetbridge and Aperio share the vision of tapping into blockchain to address some of the key inefficiencies of supply chain to achieve better utilization and outcomes.
“We are confident that the addition of Aperio to the Sweetbridge ecosystem will enhance trust, collaboration, and visibility among the many businesses involved in supply chain design and operations worldwide.”
Aperio’s blockchain-based core sourcing platform lets Sweetbridge virtually represent and identify products as they are sourced, made and transported through supply chain networks.
The virtual assets include product specifications, customer information, bill of materials and other data.
“The platform leverages blockchain to eliminate the need to manage multiple catalogues for customers or marketplaces,” Sweetbridge said in a statement. “As a shared, distributed ledger of assets within the supply chain, it also increases visibility and trust among trading partners.”
Aperio benefits from the liquid capacity of Sweetbridge tokens to ease customer onboarding with zero-interest loans against assets along with quicker payment and settlement times. Their technology allows Sweetbridge to accelerate multiple supplier workflows through chaincode, or smart contracts automating supply chain process flows.
“In combination with the enhanced transparency and visibility that the platform provides to suppliers, Aperio will play a significant role in increasing participation incentives for those who typically take out loans or tie up valuable working capital to finance their operations,” Sweetbridge said.