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Home / Knowledge / News / Information Technology / Applied DNA, Everledger sign MoU for blockchain

Applied DNA, Everledger sign MoU for blockchain

07
Aug '18
Courtesy: Adnas
Courtesy: Adnas
Applied DNA Sciences, Inc. has signed an memorandum of understanding (MoU) with Everledger to build CertainT Blockchain platform for high-end products including leather. The molecular tag, test and track platform will provide physical identity and traceability for Everledger digital platform with leather supply chain as first target market.

Everledger’s leadership in tracking provenance on its blockchain-based platform has been proven to offer transparency and asset protection across various industries. The company’s emerging technology solution is scaled for industry standardisation as evidenced by the provenance of over 2.2 million diamonds encrypted on its platform. The company was recently named as a World Economic Forum 2018 Technology Pioneer.

Under the MoU, Applied DNA and Everledger will collaboratively integrate their respective technology platforms and pursue various market opportunities, including leather. The two companies have identified several prospects for the combined platform and are actively developing the system for the demonstration of tagging and in-field authentication data posting to the digital transactions, thereby reinforcing molecular certification with immutable transactions.

The proposed combination of the Everledger blockchain-enabled platform with Applied DNA’s CertainT platform is designed to broaden the capability to track the movement and chain of custody of goods across complex ecosystems, while strengthening the protection of physical goods with forensic identity and traceability embedded in items themselves. The design expands on the proven functionality of the CertainT platform to support millions of tagging datapoints and thousands of sample submissions.

"We are expanding the breadth and depth of our CertainT platform solution to existing customers while also positioning us for potential customers on their journey to digitising their supply chains," said Judy Murrah, chief information officer of Applied DNA. "We strive to allow our customers to have more transparency and accountability in their supply chains to the benefit of all stakeholders, whether financially, operationally, or in social responsibility."

"If an asset does not have an identity, it does not have ownership, value or existence. In the high-end products market, authenticity, provenance as well as value, cannot be separated. By incorporating a forensic layer to uniquely identifying an asset, we can provide the added confidence in the data captured and tracked on our blockchain-enabled platform," Everledger founder & CEO Leanne Kemp said.

"Through this collaboration with Applied DNA, we are excited to transform the standards of establishing authenticity and certification in a global manner. We look forward to extending our solutions for asset protection especially to industries that have an importance in the global commons," concluded Kemp. (RR)

Fibre2Fashion News Desk – India


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