Next-generation tracking and traceability technological solutions provide physical and digital tracking of closed-loop recycling, authenticate sustainability claims and advance plastic waste sorting
SAN ANTONIO, December 1, 2021 / PRNewswire / – Based on its recent industry analysis, Frost & Sullivan recognizes Security Matters Limited (ASX: SMX) with the 2021 Global Leadership Award for Innovation in Scanning Technology and Data Management recycling waste. The company provides next-generation iIoT2 digital supply chain integrity solutions that solve authentication and tracking and traceability challenges to advance quality assurance, ethical sourcing, improve traceability and accountability. verifying the provenance of raw materials and improving the brand accountability of product manufacturers.
SMX’s state-of-the-art traceability and tracking technology solutions help companies in the plastics, precious metals, electronics, raw materials and agriculture industries to tangibly identify the origin of their materials, prove their authenticity and trace the products they use. The solutions help determine whether the materials used are from reliable sources, ensuring consumers and producers complete confidence in the origin and authenticity of products. As a recent case study, SMX tracking and tagging technology has been deployed at Continental to improve the transparency of the natural rubber supply chain. The technology has helped Continental ensure that its manufacturing processes comply with responsible sourcing of raw materials and efficient recycling practices.
According to Maksym Beznosiuk, Best Practice Research Analyst, Frost & Sullivan, “SMX meets customer needs and exceeds customer expectations as diverse customers and partners value the performance and business influence of its supply chain integrity solutions. . Beznosiuk added, “Its innovative iIoT2 tracking and traceability technology provides physical and digital tracking of closed-loop recycling, authenticates sustainability claims and advances plastic waste sorting.
SMX technology helps customers track various components and their data, throughout the production process to the final product, in real time without the need for extensive laboratory testing, ensuring unmatched efficiency and reliability. State-of-the-art technology offers the following competitive advantages:
It allows users of SMX technology to track and trace all marked goods along a supply chain and trace their history back to the final product. As a result, users can access the integrated data (provenance of the product, exact material composition,% recycled material used and location / date of production) inside the actual material of the product itself by scanning the item at using the SMX player.
SMX technology is customized to meet customer requirements and material specifications marked for ease of implementation (integrated solution) and adoption. This triggers a cost-effective solution that guarantees high efficiency and precision in the identification of markers.
It offers complete confidentiality of the authentication of the company’s products, customers can mark solids, liquids or gases, at any time during the manufacturing process or after it is a finished product . SMX is able to embed a marker in the material without affecting the properties or quality of the product.
It allows users to store and access all product related information on cloud servers or on a blockchain record to protect data ownership. This allows users to access the origin history of the materials in the finished product and the ownership of the products, thus improving the safety and transparency of the process.
The innovative technology enables users to ensure highly transparent product life cycles, paving the way for a holistic ecosystem that facilitates circularity and sustainability for different materials (such as plastics or raw materials). This accelerates the progression of various industries towards a more sustainable and resilient operating model. Ultimately, it allows customers to ensure that their products are fully up to their specifications and meet the highest environmental standards.
“SMX is at the forefront of providing tracking and tracing technology materials to customers in various markets. This is due to its significant funding to advance the commercialization and implementation of its solutions and to its successful partnerships with various technology companies around the world to develop plastics traceability and circularity solutions, ”noted Beznosiuk. “The company’s unparalleled expertise, high-performance intelligent technology and customer-centric approach are the main reasons SMX is a leader in technological innovation. “
Each year, Frost & Sullivan presents this award to the company that has developed a product with innovative features and functionality that is quickly accepted in the market. The award recognizes the quality of the solution and the improvements in customer value that it enables.
The Frost & Sullivan Best Practices Awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service and strategic product development. Industry analysts compare market players and measure performance through in-depth interviews, analysis and secondary research to identify best practices in the industry.
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About Security Matters Limited (ASX: SMX)
Security Matters began commercializing its unique, patented technology that uses a hidden chemical-based “barcode” to permanently and irrevocably “mark” any object, whether solid, liquid or gas. The barcode is read using the company’s unique ‘reader’ to access the corresponding stored data, recorded and protected using blockchain technology.
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SOURCE Frost & Sullivan