Security Matters rolls out key upgrades for its user interface with blockchain partners, shares jump
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Special Report: The phase-two rollout of the company’s blockchain integration platform builds on the product features highlighted in the September launch.
Leading supply-chain tech company Security Matters (ASX:SMX) has today announced the launch of its second-generation blockchain product, in collaboration with key partners.
The new platform includes key additions to enhance onboarding, including integration compatibility with the user’s existing IT systems and data centres.
Other features include a fully customisable user interface and simplified compatibility with Security Matters’ patented supply-chain management platform.
The enhanced interface will be integral to the global distribution strategy for Security Matters’ core technology, which allows any solid, liquid or gas to be invisibly and irrevocably ‘marked’ using a chemical-based barcode, and ‘read’ using a unique proprietary reader.
Investors responded to the announcement, initially sending SMX shares more than 10 per cent higher in morning trade.
The upgrade is also a key part of the company’s broader strategic vision, which is to establish an “Equilibrium Economy” business model, where SMX becomes a platform to drive production efficiencies and cut recycling costs across multiple interlinked sectors.
The upgraded platform solution was built in conjunction with two leading blockchain technology partners, R3 and Quantum Crowd.
“We have engineered our second-generation product to make the process of creating a digital twin of any physical object significantly more efficient,” CEO Haggai Alon said.
Alon added that by upgrading the user interface, Security Matters was also better positioned to embed its technology throughout the three product lifecycles – raw material to production, production to commercial and commercial to recycling.
“SMX technology combined with the privacy of R3’s Corda is vital in measuring the sustainability and ethical impact of an investment in a company,” Quantum Crowd CEO Darren McVean said.
“With the release of this second-generation blockchain platform, we now expect its rapid adoption in a wide range of industries to enable digital asset and provenance tracking for all kinds of physical assets.”