Sky Republic, an enterprise blockchain company founded by B2B software veterans, has launched Atlas, a smart contract platform built to synchronize B2B ecosystems. With Atlas, each Smart Contract powers a dedicated, permissioned and event driven blockchain which guarantees performance, confidentiality and enforceability. Sky Republic has engineered Atlas to augment or replace EDI, API and other enterprise technologies. Its objective is to improve end-to-end visibility and reduce business disruptions and friction.
“Most enterprises today basically operate with the equivalent of one-to-one text messaging when they could obviously benefit more from a secure form of multimedia group messaging,” said Chris Fabre, founder and CEO of Sky Republic who spent 10 years as CEO of the middleware company Axway. “We’ve spent three years investing in research and development for Atlas. Companies need to reduce friction and gain more visibility into their supply chain to mitigate the impact of disruptions. Each year, these disruptions generate over $100B in losses impacting more than 70% of companies. We know without a doubt that blockchain is emerging as the clear answer to go beyond EDI and improving B2B ecosystems.”
More than 20 billion one-to-one EDI (Electronic Data Interchange) transactions take place annually (according to Forrester). But most EDI standards had their design before the Internet. yet these still ‘power’ many commercial activities including in:
- supply chains
Such antiquated standards fail to support, never mind synchronise with, modern B2B ecosystems end-to-end. This leads to:
- lack of visibility
- resolution and/or mitigation disputes
- ultimately monetary losses.
Atlas supports Sky Contracts which deliver consensus in near-real-time to large communities about:
- network workflows
- asset custody
- document exchange
- business event notifications.
Sky Contracts go beyond EDI, API and standard…