Skuchain Joins DCG Connect as a Founding Member to Accelerate Enterprise Blockchain Adoption

MOUNTAIN VIEW, Calif., May 22, 2017 /PRNewswire/ -- Skuchain, Inc., today announces that it has joined the newly-launched DCG Connect as a founding member. The fourth subsidiary of Digital Currency Group (DCG), an investor in Skuchain, DCG Connect is a membership-based organization dedicated to helping enterprises accelerate from blockchain exploration to production, with a group of founding corporate members including IBM, Amazon Web Services (AWS), CME Group, Foxconn, Mastercard, New York Life, Prudential, Transamerica, and CIBC.

Skuchain is the industry leader in blockchain solutions for trade finance and the supply chain, providing optimal planning, agility and capital efficiency for downstream buyers and working capital relief for upstream suppliers. Through Skuchain's platform, customers access uniquely reliable information and turn it into capital.

Skuchain's products offer full communication with existing ERP and EDI systems without the need for costly integration, as well as full interoperability with all blockchain protocols. Skuchain has also been collaborating with cloud partners to build a full blockchain enterprise stack that can be deployed to further facilitate adoption across an enterprise and its supply chain.

By joining DCG Connect, Skuchain hopes to contribute to the growth of the blockchain ecosystem and to work with its fellow members to help corporates leverage blockchain technology and digital currencies for a variety of use cases.

"Although implementing a blockchain solution for an anchor buyer and their supply chain has a number of unique collaborative commerce specific aspects, there are also a number of commonalities with generic blockchain application needs," said Srinivasan Sriram, Founder and CEO of Skuchain. "We are happy to participate in the DCG Connect initiative to work closely with enterprises as they build out a broader blockchain footprint."

"In the short span of a few years, blockchain has gone from being a nascent technology to a deployable production solution thanks to the innovative energy of technologists and a general eagerness to form partnerships. We are excited to work with DCG Connect and its membership to expand this project and hasten the growth of the blockchain ecosystem," said Rebecca Liao, VP of Business Development and Strategy at Skuchain.

DCG's Director of Development, Meltem Demirors, who is leading this new subsidiary, noted "After two years working with bitcoin and blockchain companies and corporate leaders, we identified that a significant issue hindering the widespread, global adoption of blockchain is the inability to quickly connect with the right combination of partners for testing and deployment of the technology to address real-world business challenges."

The blockchain industry is on the cusp of a breakout moment in the application of this technology. Skuchain looks forward to working with DCG Connect and its members to grow the set of tools, partnerships and knowledge necessary to accelerate the adoption of enterprise blockchain production solutions.

Skuchain is a blockchain technology company that provides an end-to-end solution suite for the supply chain. With a strong team of serial entrepreneurs from Stanford, Harvard, MIT, Berkeley and University of Pennsylvania, Skuchain helps enterprises access uniquely reliable information through the blockchain and turn it into capital. Founded in 2014, its investors include the Digital Currency Group, Amino Capital and Fenbushi Capital. For more information, go to www.skuchain.com or email [email protected].

For more on DCG Connect, go to dcgconnect.co.

SOURCE Skuchain, Inc.

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