SMX (ASX) Ann: SMX seed solution testing successfully completes

https://finfeed.com/features/these-israeli-tech-stocks-are-winning-market-disruption-game/

These Israeli tech stocks are winning the market-disruption game

Security Matters (ASX:SMX)
Market cap: $29.7M

ASX newcomer Security Matters is transforming brand liability, authentication, tracking and proactive quality assurance with technology that permanently ‘marks’ any object in solid, liquid or gas form.

The tech was originally developed by the Israeli Government, at the Soreq Nuclear Research Centre. It’s based on three components: a chemical-based hidden ‘barcode’ system, along with a unique ‘reader’ to identify the codes, and use of a blockchain record to store and protect ownership data.

Co-founders Haggai Alon, David Rosenblatt and Ed Hofland bring decades of experience in building successful companies within both Israel and Silicon Valley. The company’s advisory board is also fronted by Major General Ami Shafran, who chairs fellow Israeli tech stock, Elsight (ASX:ELS).

CEO and co-founder Alon said that the company’s vision is to be “the link between the digital economy and the ‘real economy’, providing a ‘digital twin’ on the blockchain of physical goods.”

“We have developed a suite of integrated solutions to solve both authentication and track and trace challenges in order to uphold supply chain integrity, and provide quality assurance and brand accountability to producers of goods.

“We’ve already got agreements in place with companies across different sectors, including diamonds (brand liability), plastics (product authentication), protecting proprietary raw materials (quality assurance). Plus there are a number of potential applications that are already in the pipeline including electronics, gold, art, food and agriculture.”

Haggai Alon, Security Matters co-founder and CEO
The tech is providing a viable solution to a number of high-value sectors, including the global counterfeit market, which is worth around US$1.77 trillion.

Security Matters is working with Israel-based Kafrit Group (TASE:KAFR), which has invested US$500k and is a channel distributor of partnerships for manufacturing and selling solutions to the plastic and packaging market. It’s also working with Intel (NASDAQ:INTC) on its Intel Ingenuity Partner Program and with BASF (ETR:BAS) on a proof-of-concept in its performance chemicals division.

It’s also dipping its corporate toe into the thriving medical marijuana space. This week, Security Matters inked an agreement with CliniCann to provide its proprietary tech for medicinal cannabis packaging. CliniCann was established in 2017 by the founders of ASX pot-stocks AusCann (ASX:AC8), CannPal Animal Therapeutics (ASX:CP1) and Zelda Therapeutics (ASX:ZLD).

This move means Security Matters will have exclusive rights to incorporate its track-and-trace technology into primary and secondary packaging of all products manufactured by CliniCann customers across the globe, excepting the US.