Komarkcorp Berhad, a Malaysian self-adhesive label solutions company, has teamed with Ant Group Digital Technologies to offer digital blockchain services.
Last Friday, Komarkcorp announced that its wholly-owned subsidiary Komark International (M) Sdn Bhd has inked an MoU with Ant Group Digital Technologies’ unit AntChain for the services.
Komark International’s printing and labeling expertise and AntChain’s blockchain-powered traceability technology will open new markets to meet consumer demand for traceability, especially in safety-sensitive industries like food and beverage and medical.
AntChain traceability technology will safeguard labels, packaging, and holographic stickers.
The MoU covers food, beverage, automobile, and medical device sectors.
Both firms decided to collaborate on labeling and packaging digital potential.
Blockchain technology’s decentralized, transparent, and tamper-proof ledger makes it perfect for supply chain tracking.
Traceability would help detect and track supply chain concerns.
Komarkcorp says the MoU will improve Komark International’s printing business by using AntChain’s block chain traceability technology to keep its products relevant and appealing in current market conditions.
In January 1983, Malaysia incorporated Komark International. It makes self-adhesive labels.
Malaysian-listed Komarkcorp makes self-adhesive labels and stickers, automatic labelling gear, and face masks.
Chemical, agrochemical, food and beverage, home and personal care, industrial and lubricating oil, and pharmaceutical companies utilize its packaging and self-adhesive labels.
Singapore-based AntChain provides new technologies including blockchain, internet of things, data analytics, and intelligent risk management.
Ant Group Digital Technologies works on blockchain, privacy computing, security, and distributed databases.
Since 2015, Ant Group has invested heavily in blockchain technology research to increase transparency and trust in sectors with many participants and complicated processes.
China’s largest productivity blockchain platform, Ant Group, can handle one billion user accounts and one billion transactions per day.