Blockchain technology, supply chain integrity and brand protection company Security Matters (ASX:SMX) is launching a new proof of concept project that uses its technology to track crops, starting with the seeds they grow from.
The proof of concept will be carried out with Hazera Seeds. Hazera is part of the Limagrain Group, which breeds, develops, produces and markets a large and varied seed portfolio, supplying professional farmers of vegetable crops worldwide.
SMX’s technology enables any solid, liquid or gas to be invisibly and irrevocably “marked” using a chemical-based barcode. The three-month proof of concept project will trial embedding SMX’s markers into seeds that can then be read using a proprietary reader.
Additional brand and product protection will be provided by the markers embedded in the seeds.
Hazera will then be able to test how the marked seeds can be identified and tracked throughout the sale and distribution process, without damaging the seeds.
The global agriculture market is estimated to be worth $11.8 trillion globally, providing a significant opportunity for Security Matters to capitalise on, should its trial be successful.
Recently SMX filed a patent application around using its technology to detect plastic contamination in crops, and this project is the latest win in the agricultural space for the company.
Co-Founder and CEO of Security Matters, Haggai Alon, said the project is part of the company’s growth strategy and business model of creating a global footprint for its technology, as well as providing quality assurance across the whole production and supply chain from farm to plate.
“Hazera is a leading global company in seed manufacturing, and the project we are collaborating on is an example of Israeli technology backed by European brands. We intend to implement our findings across all geographies, including Australia, to support the food safety and quality sector.”
Prior to signing the partnership, Security Matters completed lab tests that showed it could successfully integrate its technology in a sustainable and eco-friendly way that promotes growth of seeds when planted in soil.
Positive results from this initial phase may lead to a project on a larger scale, further leveraging its ability to track and trace Hazera’s seeds by embedding its ecological markers into seeds.
This content is produced by Star Investing in commercial partnership with Security Matters. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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