Below are answers to some of the most frequent questions we are asked:
Is blockchain the same as bitcoin?
They are not the same, although bitcoin is a cryptocurrency which uses blockchain technology, and it was in fact the first "killer app" for a permissionless blockchain. The SparcHub network uses a permissioned blockchain platform designed for corporate enterprise use.
What does the name Sparcblock mean?
SPARC is an acronym for Smart Payables and Receivables Contracts, the key to seamless B2B transactions. Block is short for blockchain, the platform on which the smart contracts are executed.
Can I use SparcHUB for transactions with trading partners that are not on the network?
Yes - Sparcblock offers tools and services to allow you to get the benefit of the network automation, even if some or most of your trading partners are off network.
how does sparcHUB compare to edi?
While EDI is much better than paper-based transactions, it does still have certain disadvantages when compared to SparcHub. EDI uses batch files to import and export from ERP systems, which still require reconciliation. SparcHub can use real time API's to have the ERP's read and write from a shared ledger, which is never out of sync. SparcHub does also work with EDI though, and enables the smart contract and automation functions which are not possible with EDI alone.
I am in an industry not listed - can I still use SparcHUB?
The Sparcblock team has had experience and proven success in the listed industries. Since we always want to learn and grow please contact us and we will be pleased to discuss your situation and let you know if we can help.