Applied DNA Sciences and Everledger have signed a Memorandum of Understanding (“MOU”) to execute a co-marketing and development plan for the two companies’ platforms with an objective of providing integrated physical and digital security for supply chain traceability and certification for high-end brands and products.
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. Everledger’s leadership in tracking provenance on its blockchain-based platform has been proven to offer transparency and asset protection across various industries including diamonds, coloured gemstones and jewellery. The company’s emerging technology solution is scaled for industry standardization 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.