Equilibrium Economy: SMX files two patents for game-changing circular economy business model
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Special Report: Brand protection, supply chain integrity and blockchain tech company Security Matters has filed a US patent for its mark and trace technology under its Equilibrium Economy business model.
Security Matters’ (ASX:SMX) Equilibrium Economy model operates across the plastics, agriculture, electronics, resources and fashion sectors, and is designed to drive increased sustainability, reducing carbon emissions and maximising the efficiency of the recycling process.
The patent applications represent a significant milestone for SMX as it transforms the company’s offering into a commercial ecosystem that can connect multiple B2B companies.
The patents specifically covers SMX’s Equilibrium Economy when used within the plastics, agriculture, electronics and resources sectors, and the ways in which SMX streamlines the separation process of materials during chemical and mechanical recycling, and is focussed on driving sustainability, reducing carbon emissions and maximising efficiency of the recycling process.
Haggai Alon, Founder and CEO of SMX commented, “The lodgement of this patent application is significant for us and our growth as it demonstrates how we are leveraging the capabilities of our technology to unite the physical and digital world with one virtual currency.
“Our Equilibrium Economy model enables stakeholders from all facets of the production line to use a unified digital platform that drives sustainability, efficiency and maximum growth for each player involved.”
Security Matters is aiming to become the global record for all physical goods with the model, which operates at a molecular level across the three life cycles of a consumer product — raw material to production; production to commercial applications and; commercial applications to recycling and reuse.
The company most recently announced that it is working with former Tasmanian premier Paul Lennon AO to create a transparent technology based capability to track timber and lumber origin and revolutionise the circular economy within the global timber and lumber sector.
Security Matters’ tech allows any solid, liquid or gas to be invisibly and irrevocably ‘marked’ using a chemical-based barcode, and ‘read’ using a unique proprietary reader.
It’s a safe, effective and unique way to track items, from raw materials through to manufacturing and sale, and, finally, recycle and reuse.