Komark International (M) Sdn Bhd, a renowned pioneer in premium label packaging and a wholly owned subsidiary of Komarkcorp Bhd, has entered into a memorandum of understanding (MoU) with AntChain, a leading brand of Ant Group Digital Technologies, a global powerhouse specializing in blockchain, privacy computing, and security technologies.
Blockchain technology, a decentralized and distributed ledger system, offers secure, transparent, and tamper-proof record-keeping capabilities. Its potential to track product movements along the supply chain makes it an ideal solution for enhancing transparency and traceability. By leveraging this technology, it becomes easier to identify and monitor any potential issues or irregularities within the supply chain.
This strategic collaboration between Komark, with its extensive printing and labeling expertise, and AntChain, with its blockchain-powered traceability technology, aims to tap into new markets and cater to the increasing consumer demand for enhanced traceability, particularly in safety-sensitive industries such as food and beverage and medical sectors.
Under this partnership, the companies will explore business collaborations and integrate AntChain’s traceability technologies to secure labels, packaging, and hologram stickers. The scope of the MoU encompasses various industries, including food and beverage products, automotive products, medical devices, and more.
In addition to product traceability, both entities have also agreed to collaborate in the digital realm, exploring opportunities in labeling and packaging services within the digital segments.
This alliance between Komark International and AntChain marks a significant step forward in revolutionizing product traceability through cutting-edge blockchain technology. By combining their expertise, the companies are set to transform the way industries ensure transparency, security, and reliability throughout the supply chain.
9 June 2023
