Security Matters (ASX:SMX) has spoken about how its technology can help link physical goods to a digital ledger – and the benefits of this capability.
In a video interview with Mobile World Live taken at the 4YFN conference in Barcelona, SMX CEO Haggai Alon said the company was working on a solution that can “build trust and connectivity by linking the physical and the digital to solve numerous problems.”
Watch the Interview with CEO, Haggai Alon.
David interviews CEO Haggai Alon from Security Matters
Its solution is aiming to solve the current challenge that consumers and companies have of identifying the source of the ingredients or components used in its goods.
This can include helping pharmaceutical companies to track and trace their active pharmaceutical ingredients (APIs) and technology companies to track the supply of their electronics and metals used in its electronics.
One of the key reasons he says that people want to track and trace their supply chain is to ensure an ethical supply.
Whether it is being able to pin point the source of the material used in a “silicon wafer, the processors to the packaging” – Alon says his technology can do it all.
Earlier this week SMX confirmed a collaboration agreement with €64 billion chemicals giant BASF SE.
SMX is aiming to bring its ‘track and trace’ technology to the market to provide authentication and security assurance for physical products.
It does this by permanently “marking” any object either solid, liquid, or gas with a chemical-based barcode.
It used a “unique codes that are embedded – they are actually a molecular sequence like a chemical barcode,” said Alon.
It also controls the tech for the reader of this barcode, which can be used to identify those codes.
SMX is also developing a blockchain solution to record and store and protect ownership data associated with its track and trace system.
SMX at 4YFM
SMX was at the conference as a guest of electronics giant Intel and the company previously mentioned that there would be “a number of tier one technology clients with whom SMX has been in ongoing commercial discussions” at the conference.
The conference is one of the world’s largest exhibitions for the mobile industry – connecting companies and investors. It showcases the latest innovations in technology to an audience of thousands.
This content is produced by Star Investing in commercial partnership with Security Matters. This content does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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