Security Matters Limited has just announced it has signed an agreement with Trifecta Industries Inc. to the Company’s trace technology for diamonds.
Security Matter is a brand protection and blockchain technology company, with a focus on becoming the global record of physical goods.
Trifecta is a world-leading company which specialises in the development and commercialisation of new technologies for the diamond industry. It produces fine cut and polished loose diamonds. Trifecta will invest US$500,000 in four lots over a period of 10 months to commercialise and utilise Security Matters’ technology for the diamond industry.
A trace commercial solution is expected to become available to selected customers in mid-2020. To help develop and achieve this solution both parties will establish a new company to be jointly owned. Trifecta will use its existing networks in the diamond industry to the technology.
Founder and CEO of Trifecta Industries Inc. Haggai Alon, has commented “SMX’s technology has enormous commercial application within the industry and has the potential to increase traceability and transparency throughout the entire supply chain. In addition to providing protection against fraud and theft, it has the potential to provide a clear traceable path for each diamond from mine to consumer.”
Haggai Alon and Trifecta are enthusiastic about the agreement seeing it as a “fantastic next step towards our identification technology for diamonds from mines all the way to the end consumer.”