Sweetbridge is targeting real economic benefits by leveraging the distributed capability and trust inherent in blockchain technology.As a senior executive in Finance, Supply Chain and Solution Design roles for over three decades, I came to Sweetbridge in April with an excellent grasp of how to deliver business value using technology. But wow — this blockchain and virtual currency space is evolving rapidly!If you’re asking yourself “What is Sweetbridge?” and “Why should I care?” — check out this quick overview for a glimpse of the value we envision and our unique approach to delivering it.Sweetbridge is an economic platform designed to free up the value that is locked in assets, commerce and the supply chains which comprise nearly two-thirds of the global economy.While cryptocurrencies and blockchain have come under rightful scrutiny because of their publicized use in illicit activities and interference with a government’s ability to conduct monetary policy, we are developing an economic system that addresses these issues by operating within existing legal and regulatory frameworks.The Sweetbridge network is set up to fuse the vast promises of blockchain — the revolutionary technology that offers degrees of trust, transparency and seamless value transfer previously unavailable — with the real-world economy in ways that could unleash real GDP growth. This will be particularly applicable for SMEs and smaller supply chain entities, which could realize faster growth and lower costs from greater liquidity and faster payments.Sweetbridge allows individuals, companies and governments to borrow from the value locked in traditionally illiquid assets and to conduct business in a more streamlined manner vis-à-vis existing intermediaries and counter-parties. This could unleash a wave of economic activity that would be otherwise locked away in the current system.Our use of virtual currencies and blockchain will facilitate more efficient value transfers and settlements in commerce, all in a manner which is auditable and more easily visible to all parties involved. These include policy makers and regulators who can monitor and regulate transaction activity allowing the private sector to significantly increase its activities while minimizing the numerous delays and financial intermediary costs inherent in today’s processes.Sweetbridge’s technology consists of a stack of open-source blockchain based protocols which utilize both private permissioned blockchains and public transparent blockchains. We are sponsoring the development of these protocols to create an economy-wide accounting system that maintains a real time P&L and Balance Sheet based on a unified set of accounts. This accounting protocol actually controls the assets and liabilities on the balance sheet.The accounting system also provides transparency to local regulators, tax authorities and law enforcement officers under the rules of each jurisdiction’s privacy laws. The protocol could even streamline the government’s collection of taxes at the transactional level and allow trade compliance to be enforced through smart contracts.These protocols will allow users to borrow money from their assets, settle payments, share underutilized assets and — above all — optimize supply chains. Our settlement and accounting protocols will allow businesses to mitigate counterparty risk, without the need for credit checks, letters of credit or upfront payments and traditional interest on the borrowing.The heart of the Sweetbridge model is a dual-currency economic system which includes a stable asset-backed virtual currency called Bridgecoin (BRC) that is pegged to any fiat currency allowing all parties to conduct trade without fear of currency fluctuation in the currency of their choosing. A loyalty token called Sweetcoin (SWC) provides holders with discounts that can reduce or eliminate fees charged in the system as well as acting as collateral for loans.The Sweetbridge Liquidity protocol releases working capital tied up in the supply chain. SWC discounts allow loyal holders to borrow BRC at little or no interest cost. The use of BRC as a cash equivalent offers the benefit of income received on certain balances held in BRC. These benefits are extended to suppliers who agree to accept payments in BRC.Further, as new asset classes are authorized in the Resource Sharing protocol of the Sweetbridge platform, the ability to identify underutilized assets in the network will enable operational cost savings in the storage and transport of goods.We see BRC as an integral piece of our blockchain system as it frees up value in assets, allows for liquidity generation and encourages users of the system.Sweetbridge consists of a group of independent non-stock (e.g. stock guarantee company, non-profits, etc.) organizations that govern the Sweetbridge protocols and financial network globally. These entities are similar to credit unions with each entity being controlled by local members and operated for the mutual benefit of these members instead of a group of shareholders. Any organization can become a Sweetbridge financial entity if they meet the on-boarding requirements and follow the common charter.Each Sweetbridge financial entity conducts KYC / AML on their local members using the Sweetbridge membership protocol and ensures the entities within the local nation state follow the local laws of each country. Our system would not allow anonymous activity. Our protocols could assist in providing recourse, repudiation, identity, indemnification and transparency between parties.The decentralized and autonomous Sweetbridge financial entities act as nodes in the Sweetbridge network and receive (mining) SWC by growing revenue which increases the monthly discount value of each SWC. This system is economically similar to the Bitcoin network rewarding miners for investing billions monthly in electricity and hardware to power the Bitcoin network except the rewards are for network revenue growth.Sweetbridge is led by an accomplished team that consists of senior executives bringing decades of global experience in the fields of technology, banking, supply chains, international finance and public policy.Recognizing that we are operating in a fluid and fast-changing landscape, Sweetbridge is continually striving to understand the evolving legal and regulatory environments within which it operates by retaining advisors and staff to provide relevant expertise and secure strong relationships with authorities.For more information please visit ​www.sweetbridge.com​ or ​t.me/sweetbridge​.A Quick Sweetbridge Overview was originally published in Sweetbridge on Medium, where people are continuing the conversation by highlighting and responding to this story.