Stateset: Distributed Sales and Finance Automation for Shopify Merchants
I’m excited to announce Stateset, a company bringing next-generation sales and finance automation to digital commerce. Stateset is a fully automated digital platform where businesses and partners can work together accelerating sales, services and financing. The Stateset Network is comprised of nodes using distributed b2b sales and financial workflows. This creates a secure, point-to-point shared view of sales information, messages, contracts, assets and capital transacted on a distributed system of agreement. We exchange the paradigm of custom implemented and siloed workflows within one organization for a new orchestrated, shared and agreed upon set of flows between nodes in a globally distributed network. Stateset is logically centralized but organizationally decentralized across organizations managing front-office, middle-office, back office and working capital lifecycles.
Stateset Platform
Stateset Platform is created on a modern, enterprise-grade, web application stack. I wanted to use the fastest and most advanced technology stack on the planet to develop this b2b sales automation and financing platform. The platform is powered by Vercel’s Next.js React Framework, Hasura’s blazing fast GraphQL Engine and Corda’s distributed state machine for business to business workflows. The platform also works as an embedded application within Shopify allowing Shopify Merchants to automate their digital commerce sales and working capital processes such as receivables financing.
Stateset Network
Stateset Network is the global set of states, or sales and finance information, between companies and the latest set of UTXOs (Unspent Transaction Outputs) in the network. Stateset allows companies to transact directly with the expectation that the other party will act with integrity. Modules for different processes between counterparties are distributed among a network the nodes in the Stateset Network. We imagine entire value chains of trade partners on-boarding into the network in groups of producers or consumers, lenders or merchants, controllers or processors of data subjects; any form of party and counterparty. Robust data mapping has been built into the platform to ensure that these types of trade partners are using a platform that is viewing the same data and using the same agreed upon processes.
Stateset at the infrastructure level is comprised of a distributed network of Corda Nodes used for business to business workflows. The Stateset Network is the authoritative, single state across multiple organization for sales, service and finance automation using a deterministic virtual machine. The network leverages a thin waist and uniform peer-to-peer networking protocol for assimilation and standardization across the network. An organization’s services on the network consists of a Hasura GraphQL engine, Spring Boot REST Service and Postgres Database. The states that are being created between nodes in the network are automatically brought to the web application using the GraphQL subscriptions. Containers for each organization that joins the Stateset Network are are automatically provisioned and managed using CodeShip, Terraform and Kubernetes. Onboarding into the platform is completely self-service. Individuals on the network are identifiable on Stateset upon login and known entities on the network are able to be directly transacted with each other in a secure and privacy preserving manner. Nodes on the network are able to instantly communicate with other nodes on the network in real-time on a global transaction ledger that will be replicated in trusted executable environments.
All of the business information that is executed will be the same shared business execution logic across same across every node in the network. Stateset comprises the shared logic for CRM, Case Management, Contract Lifecycle Management, Working Capital Management, Invoices, Loan Application Management, Messaging and Proxy Re-Encryption based File Sharing; additional modules will be distributed across the network as organizations join and contribute to the open-source network. Shared execution logic ensures that counterparties are viewing the same exact data when transacting. The platform allows organizations to instantiate workflows across counterparties removing the need for costly reconciliation of middle and back office systems. The UTXO sets are maintained between companies for pre-sales, post-contract and post-sales asset lifecycles and managing data mapping processes across organizations.
Stateset is built on a state-of-the-art web application framework, Byzantine Fault Tolerant consensus engine and an enterprise-grade, distributed state machine. We are excited to launch Stateset and to work with customers that are beginning their digital commerce journey.
To learn more about Stateset visit our website at stateset.io or on https://angel.co/company/stateset
