Why are we doing this?
We established Saffron Traceability with a single purpose: to make blockchain and distributed ledger technology ‘real’ in supply networks.
Since Satoshi’s whitepaper in 2008, the market noise associated with bitcoin and (interchangeably) blockchain has become increasingly loud, arguably reaching a crescendo in December 2017, when the posterchild of blockchain technology touched $20,000 per coin.
Today, those heady days of token price euphoria are becoming lost in history, but the noise of blockchain pervades. IBM recently announced a supply chain offer for food retailers, a space Ambrosus and a number of other distributed ledger companies raised money via initial coin offerings to address in 2016 and 2017.
We believe a gap exists – IBM’s annual revenues as we approach the end of 2018 are in the region of $80 billion, and so we don’t anticipate that IBM is interested in doing any more than selling services to major players (Walmart, Carrefour, SPAR, etcetera). For the token-knights, whilst they now have financial resources they lack market expertise and therefore we question their credibility as any more than technical nuts-and-bolts, picks-and-shovels players.
Those working in chain of custody do not need a standardised ‘answer’ (which looks awfully like something the technologists already created), nor do they want to be ignored because their revenues are not enough to move IBM’s quarterly reporting needle. They need educated, impartial, plain language knowledge and technical support: to assess if the noise of blockchain means anything to their operations, what elements of it are relevant, and how the technology can enable superior outcomes for their community members.
Saffron Traceability supports chain of custody network owners and participants to understand how distributed ledger is relevant and value adding, and then to integrate the elements that are useful into their systems and processes. This is why we exist.