Geneva, 10 June 2020 – Security Matters today joined over 200 forward-thinking companies as the newest member of the World Business Council for Sustainable Development (WBCSD).
Security Matters Limited (ASX: SMX) is a highly innovative, publicly listed Australian company that is focused on marking and digitizing physical objects on the blockchain to create a circular and transparent solution for the closed-loop economy.
The solution is based on the utilization of SMX’s scientifically proven molecular markers that can irrevocably mark and embed data in any object – solid, liquid or gas. This will allow the ability to trace, authenticate and verify the origins, supplier and exact composition of all raw materials in the finished product, through every stage of the supply chain across the three lifecycles (i.e. from raw material to production; production to commercial; commercial to recycling & reuse) via blockchain to enable the product to re-enter the economy again. The embedded data in the product can be read easily either by a scanner on a conveyor belt or a lightweight portable handheld scanner. By being able to create a digital twin for every physical object, SMX enables different players in the value chain of production to create a global ledger of physical goods.
Haggai Alon, Founder and CEO said “By providing transparency of product lifecycles, we can create an entire technology-driven ecosystem that promotes circularity and sustainability across a wide range of industries. Together in partnership with the leading global brands, we can accelerate the progress towards a more innovative, resilient and productive economy. Joining WBCSD and its strong network of member companies will help us achieve our shared objective to enable a successful transition to a truly circular economy – where every material is fully utilized and nothing goes to waste.”
“WBCSD is delighted to welcome Security Matters as our newest member. There is a huge potential for this kind of technology to revolutionize industries including fashion, electronics, agriculture, gold and precious stones. We look forward to working with Security Matters to help advance our shared goals,” said Peter Bakker, President and CEO of WBCSD.