By: Geeq on Jun 12, 2023
Following a productive few months, we are deepening our partnership with Morpheus.Network. In this post, we’ll provide some background on why we’re working together and details of our joint product offering.
In October, we announced that we would be collaborating with Morpheus.Network, an automated supply chain platform that seamlessly integrates blockchain networks into widely used legacy Web2 systems. After a highly positive start and productive collaboration between our teams, we are pleased to announce the deepening of our partnership and would like to share some details about the joint product offering we have been developing.
A common approach to supply chain adoption
Geeq and Morpheus.Network share a common goal of making blockchain technology’s core benefits — such as provable, auditable and traceable data records — more easily accessible to enterprise clients. We are both pursuing an evolutionary approach to fostering enterprise blockchain adoption, by making it easy to integrate with existing data systems and software.
Reduced costs, more control
Since the onset of globalization, supply chains have become the backbone of local and national economies, involving a complex choreography between stakeholders such as suppliers, manufacturers, shipping firms, haulage companies and vendors. As these firms often act as both partners and competitors in different contexts and domains, they tend to be cautious about publicly sharing commercially sensitive data. This can pose an obstacle to establishing a common ledger across an entire supply chain.
Our multi-chain architecture enables dedicated, private blockchains to be established for functional groups within a supply chain. Each chain can include tight controls over who is allowed to see defined data or records, while similar chains can be set up to facilitate sharing with other teams or organizations within or beyond the current supply chain.
In addition, we will offer customers the flexibility to configure nuanced permissioning settings that can be set up for specific individuals, teams, or organizations. These permissioning structures allow Morpheus.Network to work with clients to set permissions in advance for future blockchain interactions. Morpheus.Network continues to lead in its category by reducing costs, increasing traceability, and aiding collaboration in supply chains, while enabling all stakeholders to protect the confidentiality of their pricing, products, and processes.
A unique compliance feature
Geeq will enable all participants to download portable proofs of inclusion, which can be as small as one kilobyte. These provide cryptographic proof that documents such as orders, receipts, delivery dockets or bills of lading were submitted on a specific date and have not been altered since. This feature, which is unique to Geeq, promises to be attractive for compliance and auditing purposes, enabling organizations to retain proofs efficiently offline. These records are cryptographically guaranteed by Geeq’s protocol to be valid, even if the parent blockchain ceases to exist.
Based on Morpheus.Network’s experience of integrating blockchain networks into supply chains, we have jointly developed the new capabilities outlined above, which are tailored to address the real-world needs and concerns of customers as the industry moves toward multi-chain solutions. We are excited about developing further practical uses for blockchain across the supply chain sector.
Morpheus.Network is intensely focused on helping companies and Government organizations eliminate inefficiencies and remove barriers to optimize and automate enterprise supply chain operations. Their multi-award winning supply chain middleware platform leverages transformational digital technologies such as ML/AI, IoT and Blockchain and has over 150 integrations with leading companies, including SAP, DHL, Fedex, Cargowise, Telefonica, Marsh, Swift and more! Morpheus.Network helps clients maximize revenue through digitization and process automation, protecting sensitive data, and untangling complex issues with the legacy supply chain system while delivering effective, equitable, and efficient global trade solutions.
Geeq is a multi-blockchain platform secured by an entirely new, patented consensus mechanism, which radically reduces the cost of securely transacting value at scale. It is safe enough for highly valuable data, fast and cheap enough for IoT, and flexible enough for any use.
Geeq was founded by a team of expert economists and technologists who see unrealized opportunity in decentralized technology, as existing blockchains are caught in a trade-off between scalability and security. Geeq resolves the dilemma, enabling an entirely new category of solutions that unlock blockchain’s real potential for the real world.