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The new collaboration will focus on blockchain-secured product verification

In a strategic agreement launched today, TruTrace Technologies, a blockchain platform developer for the legal cannabis, food, and pharmaceutical industries, and Australian technology startup Laava will work together to advance product provenance and traceability.

According to Gavin Ger, Laava's Joint-CEO and Commercial Director, "it was immediately apparent when we first met that we shared the belief that manufacturers and brand owners should maintain the quality of their products and that consumers should always get what they paid for." In the intention of making the product supply chain more traceable and authentic, we want to make a significant contribution to these objectives by working together.

In total, more than five million Laava Smart Fingerprints have been implanted on products all around the world, including cherries, wine, personal protective equipment, documents, and NFTs. Since its inception, Laava has embarked on a variety of initiatives aimed at preventing counterfeit goods from entering China and the rest of Southeast Asia. As specified in the agreement, each firm will look for ways to promote the other's products, services, and offerings to the appropriate customers, partners, and other commercial connections in order to achieve the objectives of the agreement. In order to assure the success of the cooperation, they will also collaborate on the implementation of all of the technologies.

 

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