Blockchain
New Partnership Between Alitheon and SIMBA Chain Solidifies the Missing Provenance Link Between the Physical and Digital Worlds
MOBILE WORLD CONGRESS 2023 – Alitheon, the provider of FeaturePrint®, the machine-vision based solution for authentication and traceability of physical items, signed a go-to-market partnering agreement with SIMBA Chain, the builder of Blocks, an enterprise-grade platform that abstracts the complexities of blockchain development, making the innovative technology more accessible. The agreement enables Alitheon to offer its customers the ability to certify the authenticity and take ownership of digitized physical items using the blockchain-based FeaturePrint system. Similarly, SIMBA will offer its customers the ability to add to their physical items, an irrefutable authentication and tracing capability.
The combined solution provides supply chains, manufacturers and luxury retailers with a holistic solution to the authentication of physical items and the digital data that goes with them. There are several industries in which authenticating physical items generates value, namely by proving ownership and verifying attributes. For example, the authenticity and associated certifications of aircraft and automotive parts can be traced through the supply chain in real time, eliminating risks of false parts or subpar maintenance. Alternatively, luxury retailers can utilize such solutions to protect and maintain the authenticity and proof of ownership of their products across sales and resales.
Counterfeiting and gray market activity is a challenge across all industries, from aviation, automotive and pharma to luxury goods and collectibles. This impacts revenue, brand integrity and in many cases, the security, or health and safety of customers. The Alitheon SIMBA offering delivers both an irrefutable authentication of the physical item, as well as an immutable ledger where ownership and other data is stored, so that any sales, upgrades and maintenance are securely captured for the lifecycle of the actual item. The transparency and immutability that this enhanced solution delivers goes beyond any ‘certificates of authenticity’ or identifying additives that are currently used, ensuring end-to-end verification and security of both the physical and digital components of the product.
“The combination of SIMBA’s blockchain platform and Alitheon’s authentication technology is the first solution that intersects authentication and verification of the physical item, along with the certificate of verification of the purchase itself,” said Bryan Ritchie, CEO of SIMBA Chain, “Other solutions like barcodes and near field technology can be manipulated. On the flip side, storing data on the blockchain is immutable, but that still requires good faith that the physical item is indeed what the owner says it is. Such solutions only solve a fraction of the problem, and do not address possible manipulations across the lifecycle of the item, or any future upgrades, maintenance, resales, gray market sales and so on.”
“What does it mean for industry, when a company or consumer can irrefutably authenticate a product as well as its ownership and associated data?” said Roei Ganzarski, CEO of Alitheon. “It means goodbye to having to deal with counterfeits, gray market activity, theft, fraud, misidentification, human error, and a whole host of other expensive and risky problems. Welcome to the new world.”
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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