The Seratio EcoSphere

End of a Journey, Beginning of a New

 

Summary

At the end of Q3 2018 the not-for-profit foundation Centre for Citizenship, Enterprise and Governance (CCEG) will have completed the Seratio Ecosystem to MVP (minimum viable product) level ready to start implementation in Q4 trials with significant partners in cities, regions and countries around the world.  This has been a 7 year journey, started in May 2011, to create structures for good that allows us to travel through our lives guided by the beliefs we hold dear to our hearts. By establishing a digital currency of intangible value, we can use AI (Artificial Intelligence) Bots on our mobiles to navigate our interactions with organisations, products, projects, processes and even people based on their provenance and how aligned they are to our own values. Retailers will be able to incentivise and target to differing degrees whole communities that match most closely their corporate values. We will be able to exchange our token instruments of non-financial value with assets of financial value.

Now moving to engagement and integration within global markets across public, private, civil society and community sectors, the Seratio EcoSystem will be governed by its participants through a Distributed Autonomous Foundation (DAF) which itself will integrate with other DAO (organisations) structures representing the Non-Governmental Organisations (NGO’s) both small and big. We are an international community of over 120,000 with a vision which are ready to deliver, but the next phase is about market need, scalable adoption, and professional operational delivery to give us a world based on sustainable social impact. Our common goal is to form a world transacting on the optimisation of Total Value where both Financial and Non-Financial Value are of equal importance and driven by our individual and collective Values.

The Journey (2011-2018)

We started our journey in May 2011 and created digital impact measurement, the Social Earnings Ratio, which became the “fastest adopted social impact analysis metric in the world” (The Vatican, 2014). The S/E Ratio, a corollary to the financial P/E Ratio, digitises non-financial value, turns sentiment into financial value, and does it through Fast Data in under 10 seconds. Applied successfully to Social Value Act 2012, Modern Slavery Act 2015, EU Commissions, etc and a plethora of academic commissions, CCEG became the leading provider of SaaS platforms across many sectors, with its own journal Social Value & Intangibles Review.

In early 2016 we moved from just  the measurement of value to the movement of value, adding a transaction of value capability through blockchain. We now have a CCEG Blockchain UN Lab which conducted UK’s first Initial Coin Offering in October 2017 with UK Financial Conduct Authority (FCA) guidance,  an institutional blockchain consultancy and advisory service Rothbadi & Co,  a large IP DLT consortium CyberFutures, and a university educational value forum www.EfficiencyExchange.ac.uk.

Justas Structuras Creare (Creating Just Structures) #goodistrending

Our aim remains to enable open source structural change for good,  having researched 12 Whitepapers, a membership association for Blockchain Alliance for Good, and the world’s first peer reviewed academic journal Frontiers in Blockchain, jointly launched with a mainstream academic publisher.

Development Cycle

Seratio Ecosytem final image

The integrated components of the Seratio EcoSphere are described above with the following easy to read non-technical guides to understand the linkages:

Current Status

Seratio Ecosystem - circles

The system as a whole is 85% complete (green shaded above) at present moment with 100% expected by October 2018. Originally expected to complete by July 2018, the additions of the DAF and Exchanges has extended the timescales a further 2-3 months. Although the securities financial exchange (yellow shaded above) will take further still with Swiss FINMA approval required, the security asset exchange is not an immediate requirement for day one as many others exist which we can use.

Moving Forward with Partners

With the end of the visioning and development cycle, comes a new challenge as we move into pilots and trials of our MVP to test and improve the Seratio system. We have in place already one pilot with a UK brand Mencap which has been delayed now to December 2018 due to their financial constraints, several demo’s and launches in November 2018 in Amsterdam and June 2019 in Copenhagen with Informa Plc (FTSE 100), as well as city launches in Taizhou (August 2018), Yiwu (October 2018), and country launches in Wales (August 2018) and Moldova (November 2018); other partners are now in discussion.

The Seratio Ecosystem is aided by AI to assess the complex analytical data available and to transparently steer consumers becoming their online friend. Similarly for public sector institutions, private sector corporates, civil society NGO’s – and their leaders – to become their values driven guide

As with all the work at CCEG, the Seratio EcoSphere is open source, and part of our contribution towards the United Nation’s 17 Sustainable Development Goals.

If you wish to be a partner please feel free to contact us at blockchain.lab@cceg.org.uk

CHINESE

 

Blockchain and Procurement

Blockchain is a revolutionary computing concept that has taken the computing community by storm, but in every new technology, there are questions about its security. This one is no different. In the paper to come, potential security threats will of Blockchain be analysed from a technical point of view and examined in a way to find solutions. The security of the cryptocurrency will also play a part in the analysis of Blockchain and the author may contribute to bitcoin’s security in the cryptographic nature. The writtens below are an overview of Procurement, blockchain from the understanding of the author. There may be edited versions to follow.

Procurement

The acquisition of services, goods and work is the cornerstone of any business. These goods and services have to come from external sources. External to the organisation, institution or charity. The challenge is to find a source appropriate to provide the organisation with the product/ services which meet its needs. Following, the cost need to be agreeable and depending on the value of the purchase, time and contract negotiations need to be considered. “Large public and corporate organisations like to promote choice and greater competition with procurement and acquisition programs. Choice and quality go a long way in business.” (Anon., 2017)

The act of procurement is more than just organisations purchasing goods, or services, it is the building and maintaining of relationships with all sources of the services. Negotiating contracts and transaction prices are all a vital element of procurement. The concept of procurement is “maintaining fruitful long term relationship with suitable supplies”.

Business transactions have been reformed by this concept and are ever growing.

(Problems with procurement)

Procurement offers a plethora of advantages in comparison to a purchase only transaction, but it too has a few problems:

  • Accidental Orders – Sometimes an organisation can mistakenly order items they didn’t want, even though with a good relationship with the supplier this is easily rectified these problems are still very common.
  • Inflexible suppliers – Most suppliers will accommodate a purchasing company’s needs but some may not offer discounts or may even include surcharges.
  • Exceeding Budget – If they budgetary updates are not communicated properly throughout the company and especially to the purchasing department.
  • Damaged Goods – The company may only know that the item is damaged when it reaches its destination, then there’s a long process of returning, negotiating and reordering which has already caused a unnecessary delay.

Blockchain

Blockchain provides a new way for organisations to engage with technology to reduce cost, improve speed and transparency and integrate social value across the procurement function. It is known as the new ‘revolutionary computing’.

In brief, Blockchain allows competitors to share a digitally distributed ledger across a network of competitors without need for central authority. Thus no single party has the power to tamper with the records (Ledger). Every member of the transactional process will have a shared ledger consisting of all records of transaction costs, times, and even the quality of the goods. Essentially every member of the transactional process will be able to view the movement of the goods purchased, from supplier through all the middle-men to the purchasing organisation.

   

Marrying the Blockchain concept with the procurement process could be wonderfully beneficial as the advantages of Blockchain simplify the process of procurement, and the process of procurement joins well the concept of Blockchain.

As the ledger is shared between all those involved in the procurement process there must be a protocol in place for the verification of payment amounts and amount of goods agreed between supplier and purchaser. Blockchain has successfully dealt with this issue. When a record on the ledger is updated, it awaits the verification of all those involved that the update is correct before the update is approved. The ledger then, proves secure and the act of procurement can flourish with this new partnership.

Blockchain uses bitcoin currency. Bitcoin is a cryptocurrency, a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds. A bitcoin is programmable and can represent money, goods or services, at the discretion of the trading parties. A bitcoin can even be programmed to represent the funds for a particular need, it can be used to represent a departmental budget, ensuring that coin is solely used for that department, thus sticking to their budget.

Using Blockchain for procurement is an exciting partnership, whose lifespan will change the way of business in our future.