Better data = better business
Sweetbridge makes it possible to prove that financial information and value chain data are more accurate than ever before
The Sweetbridge technology stack can help you prove product claims, improve product safety, reduce working capital requirements, turbo charge loyalty and much more. All while measuring, monitoring and reducing every area of risk in a value chain – from the ground up to the consumer.
Here’s a few specific examples of how two consortia are using Sweetbridge tech:
4ALL uses the Sweetbridge platform to allow anyone to add bank-like features to apps and websites.
The way KYC and Identity are handled today isn’t working — KYC’d identities are not portable from one institution to another, identity theft is on the rise, and bank fraud is up 61%. In addition to this, savings are in crisis globally, with $2T earning negative interest and an average rate of return at 1% or less. The solution is a single KYC’d identity and wallet designed to lower cost through P2P solutions, improve security through technological advancements, and create savings while building loyalty.
The 4All wallet provides a KYC’d identity for organizations and individuals with multiple layers of validation and audit. The identity supports delegation of authority to organization employees or powers of attorney to control authorizations and allows individuals to act on behalf of others. The identity can be used with multiple financial entities who share the KYC’d credentials.
The wallet can be used to prove identity over text, phone, in person and with devices. Its highly secure authentication enables your smart device biometrics to be used to login to websites or apps instead of using usernames and passwords. Digital agreements or contracts can be signed via a digital device.
The wallet supports P2P and cardless payments via websites, apps, and POS devices. Loyalty systems can be integrated or targeted by profiles of users or other purchases. The wallet comes with a pre-integrated loyalty based savings account with rates that can easily be greater than 10%. This savings account is used to reward loyalty within the network.
The 4ALL wallet also provides real time financial statements (net worth, balance sheet, cash flow and income statements). It can support the holding of crypto currencies without worrying about crypto keys through exchanges or custodians and can transfer ownership without transferring possession.
As1 uses AI, IoT and DLT with the Sweetbridge platform to create “digital twins” that synchronize the physical, data and financial supply chains of all parties. As1 enables a distributed set of entities in a value chain to act as one integrated entity. Risk management, capital formation, inventory, and production can be optimized via AI for the value chain across independent organizations. This enables the reduction of swings in inventory in response to shifts in customer demand reducing waste, cost and risk.
As1 has implemented the Sweetbridge rewards certificates providing economic rewards for desired behaviors. A typical implementation can substantially increase the profitability of all participants within a value chain with an ROI measured in months.
Through the use of AI, IoT and DLT technologies, the As1 consortium can enable any organization to methodically reduce risks and cost while improving production efficiency through an integrated solution of audited decentralized systems, services, and processes that:
- Prove your claims – Collecting, verifying and monitoring the facts that support your claims (such as organic, carbon neutral, etc.)
- Eliminate fraud – Fraud becomes so difficult and costly there is little incentive to do it
- Verify source – Using cryptographic signatures to tie the identity and source of every fact to the organization, individual, or device that provided the information allows the party providing every fact within a value chain to be held responsible
- Integrate each layer in the value chain – Comparing and integrating the physical, data, and financial supply chains to ensure payments for goods and services match claims about the quantity, source, location, and condition of the goods and services
- Measure areas of risk – identifying claims or risks that can’t be proven or are not yet verified externally
As1 uses the open source Sweetbridge Synchronized Accounting protocol to enable an easy to implement decentralized Inter-enterprise Resource Planning system (IRP). This IRP maintains a digital twin of each organization’s supply chain process creating a single data model. The value chain becomes a virtual entity with common contracts, risk management, accounting, and capital formation. As1 creates a single virtual entity with decentralized and autonomous sub-entities.
These are not the only use cases for this technology. Our thought leadership papers explore a number of other options for using the Sweetbridge protocols and only touch on a small percentage of what’s possible.
Contact us to learn more about either of these projects, or to propose your own project using the Sweetbridge technology stack.