The technology comprises an invisible, liquid-based barcode system, a proprietary reader to identify these codes and a blockchain record to store and protect ownership data. The newly formed partnership will apply Security Matters’ solution to alcoholic beverages globally, with work already underway with key stakeholders to develop global standards and test the technology.
Haggai Alon, Security Matters Founder and CEO said: “We are focused on assisting FMCG companies to demonstrate brand integrity and production visibility – from raw material to recycling – with all information stored on the block chain. Through the joint venture we will be executing an aggressive
strategy in 2020, targeting the FMCG market and specifically the alcohol industry which accounts for over $500 billion annually i of counterfeit goods.
“Following the successful demonstration of our pioneering technology incorporated in different types of wine, we are finalising the markers to embed into wines within Australia and Europe while solving the regulatory issues surrounding wine provenance, quality and production methods.
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