A company that aims to use blockchain technology to improve the security and integrity of supply chains says it is attracting “significant” interest from investors.
‘Security Matters’ is planning to list on the Australian Securities Exchange via an initial public offering (IPO) on September 13, 2018, with a market capitalisation of around $20 million.
The Israeli company, which claims to be “game changing,” says its “distruptive” technology can transform brand liability, authentication, tracking and proactive quality assurance by permanently and irrevocably “marking” any object in solid, liquid or gas form.
“It is based on three parts: the chemical-based hidden “barcode” system, along with a unique “reader” to identify the codes, and use of a blockchain record to store and protect ownership data,” the company said.
Haggai Alon, CEO of Security Matters, said the Company’s vision is to be the link between the digital economy and the “real economy”, providing a “digital twin” on the blockchain of physical goods.
“We have developed a suite of integrated solutions to solve both authentication and track and trace challenges in order to uphold supply chain integrity, and provide quality assurance and brand accountability to producers of goods,” Mr Alon said.
The global spend on fighting counterfeiting alone is expected to reach USD $284 billion by 2020.
“We’ve already got agreements in place with companies across different sectors, including diamonds (brand liability), plastics (product authentication), protecting proprietary raw materials (quality assurance). Plus there are a number of potential applications that are already in the pipeline including electronics, gold, art, food and agriculture,” Mr Alon said.
RM Capital, the corporate advisor and lead manager of the IPO, says Security Matters is bringing a revolutionary technology to market, which could dramatically alter how physical goods are tracked and managed in the future.
“We’ve already had a significant amount of interest from Australian investors ahead of the IPO who can see the potential of this new technology,” RM Capital’s head of corporate finance Nathan Barbarich said.