Blockchains are the future of business relationships. marketsN uses blockchains to create a shared ledger across all organizations in a group. Business groups make it easy to access information about current & past transactions such as provenance of goods. Reconciliation is automatic since each transaction has been verified by each peer. Participants can host their own node or access the app via a community node.
marketsN uses a permissioned/private blockchain for on-demand creation of business groups. When information about transactions within a group must be verified by an external party, marketsN records verified transactions on a public blockchain.
Unlike traditional AI software, marketsN works on data not only within your org (from ERP) but also with live real time data from your suppliers. This enables intelligence at the level of the entire supply chain, from day-1.
marketsN acts as a single source of truth for all members in a group. Insights derived from mining your marketsN groups are therefore implicitly more trustable.
marketsN’s built-in marketbot™ uses machine learning algorithms for mining insights from blockchain data. It creates the trusted inputs needed for taking critical business decisions. marketbot™ gets smarter over time learning from past actions when making recommendations.
Smart contracts are encoded business contracts coupled with business logic. These are guaranteed to execute once deployed without any need for human intervention. The results of this execution are stored on the Blockchain.
Smart contracts are programmed in deterministic programming languages. This leaves very little ambiguity in deciding what the contract will do under a given set of actions.
Since the term of the contract are known to all parties and cannot be changed without the explicit consensus of the group members, this automation is implicitly trusted by all entities involved. This “Trusted Automation” is what leads to operational efficiencies.
Token economics are how blockchains incentivize positive behaviour. marketsN leverages this power to redesign incentives, automate contract enforcement & make economic networks frictionless.
The ability to create and distribute tokens according to economic incentives (mechanism design) can be a powerful tool in the way B2B networks are managed. Even today, tokens like “miles” & “loyalty points” are used by enterprises to influence consumer behaviour.
With marketsN, it is possible for organizations to use tokens to incentivize desirable behaviour in their partners & suppliers too. An enterprise-token policy can potentially be used by the CFO as a corporate governance tool to track budgets in real time.
marketsN supports IoT data generated from the movement of goods in the supply chain to be used for measuring supply chain performance. The emergence of IoT further enhances the intersection between blockchain, data & algorithmic decisions.
As connectedness increases through cyber-physical interactions and sensor data, truly integrated supply chains are possible. This data can then be used by smart contracts to automatically determine bonuses and penalties leading to higher trust & improved operational efficiency.