Erick Piscini, the man popularly known for helping turn the fortunes of Deloitte’s Global blockchain practice, is ploughijng his own furrow. Piscini is credited for growing the Big Four accounting firm’s blockchain team in 2012, from three people all the way to 1,200 people currently. As much as he is now setting off on his own path however, he is not exactly starting from scratch.
Post Approval Action
After getting approval from several Deloitte clients earlier in the year, Piscini focused on early stage startup Citizens Reserve, which is currently known to be raising $150 million to help progress one of the most fragmented supply chain networks in the world.
The Los Gatos Carlifornia-based LCC is well known for coming up with unusual technological innovations. One of these is a software bridge that creates a connection between the public Ethereum blockchain, known as Quorum, with its original design; having come from JPMorgan Chase & Co. The public blockchain infrastructure that is known to power Ethereum’s $66 million stake with a private solution, is made to help not only JPMorgan but other parties keep up with the regulations and restrictions in place. These are the restrictions that Piscini believes are set to revolutionize the supply chain by making it the next major industry to face disruption from the technology.
Shared Database and Supply Chain Levels
Citizens reserve is made to be a shared database that can be used by every tier of the supply chain, including manufacturers, suppliers, distributors and retailers. According to the strategy, Zerv will be used as the chosen cryptocurrency. Zerv is created through the tweaking of the ERC20 Ethereum token. This will be used by the consortium’s members, and is currently being created to help gain access to the blockchain, thus enabling almost instant borderless transactions.
Traditionally, companies have been known to sell the ERC20 tokens to investors in an ICO for several purposes that includes simple access to the product, coupled with full fledged securities tokens – offering real ownership of the company as well as voting rights.
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