Security Matters’ (ASX:SMX) tech has become the only tech in the world proven to be able to provide a ‘track and trace’ solution to the electronics manufacturing industry.
The ASX-listed company told the market this morning that it had wrapped up a trial using its technology on “all aspects of electronic elements” such as silicon, components and processor chips, to circuit boards.
It added that the manufacturing process for those components didn’t need to change in order for SMX’s technology to work.
It means a manufacturer, using SMX’s solution, should be able to trace a chip from the manufacturing plant to its final destination market.
SMX will take the results of the trial into discussions with “leading technology manufacturers” — and will present its results at the FYFN 2019 conference in Barcelona later this month as part of a delegation with electronics manufacturing giant Intel.
The company mentioned that there would be “a number of tier one technology clients with whom SMX has been in ongoing commercial discussions” at the conference — leading founder and CEO Haggai Alon to characterise the trial results as a ‘moon landing’ moment.
“This is our most strategic achievement to date and has such great potential to move us forward from being a small and young company to a commercial giant,” he said.
“The FYFN 2019 conference in Barcelona is our launching pad, or if to quote Neil Armstrong ‘that’s one small step for man, one giant leap for mankind’ and completion of this testing further validates our technology and marks the next phase of growth and development for us.
“We are working towards becoming an integral part of brand and sector integrity management globally and the completion of trials, projects and pilot testing not only confirm our technology works but also demonstrates how agile and versatile it can be.”
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 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.
Let’s get vertical, vertical
News of the latest trial success in the electronics manufacturing sector adds to previous news of success in various verticals.
For example, it has targeted the burgeoning medical cannabis market with a trial with UK-based Clinicann to create a global standard for medical cannabis verification.
It has also dipped its toe in the agriculture industry through a trial with seeds giant Hazera.
It has also tied up trials with identity solutions provider Veridos as it attempts to prove up its tech solution in several industries where verification of the authenticity of physical items is crucial.
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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