Blockchain Platform For High-end Product Markets Planned By Applied DNA, Everledger

Blockchain, News | August 8, 2018 By:

High-technology company Applied DNA Sciences and blockchain startup Everledger have joined forces to provide integrated physical and digital security for supply chain traceability and certification for high-end brands and products.

Based in New York, Applied DNA Sciences develops and employs unique technologies for the purpose of preventing counterfeiting. The company’s DNA-based technology is utilized in a variety of industries including: textiles/fashion, wine, musical instruments, and electronics. Luxury goods manufacturers use these products to identify counterfeit consumer goods and to ensure their products’ authenticity.

Founded in 2015, Everledger provides an immutable ledger for diamond ownership and related transaction history verification for insurance companies, owners, claimants, and law enforcement agencies. The company’s blockchain solution is scaled for industry standardization as evidenced by the provenance of over 2.2 million diamonds encrypted on its platform.

Under the partnership, Everledger will integrate its blockchain platform with Applied DNA’s CertainT platform, a supply chain platform that certifies authenticity and origin of products and brands. The companies 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 combined platform will be able 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 the items themselves. The goal is 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 digitizing 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.”

Leanne Kemp, Everledger Founder and CEO, said that the partnership will aim to transform the standards of establishing authenticity and certification in a global manner.

“If an asset does not have an identity, it does not have ownership, value or existence,” Kemp said. “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. We look forward to extending our solutions for asset protection especially to industries that have an importance in the global commons.”