February 23, 2023 – South Bend, Indiana
SIMBA Chain, the builder of Blocks, an enterprise-grade platform that abstracts the complexities of blockchain development to make the innovative technology more accessible across multiple blockchains and services, today announces the integration of Alitheon, the provider of FeaturePrint®, the machine-vision-based solution for authentication and traceability of physical goods.
The go-to-market partnering agreement enables Alitheon to provide its customers with the ability to certify the authenticity and take ownership of digitized physical items using the blockchain-based FeaturePrint® system.
SIMBA will extend Alitheon’s FeaturePrint® to its own customer base, allowing them to first authenticate and then trace physical products through the entirety of their commercial lifecycle.
FeaturePrint® allows for immediate authentication of an item using a smartphone using an advanced optical AI technology that digitizes items.
SIMBA provides the infrastructure to enable the omnipresent tracking of real-world items through the blockchain by tying each physical item issued by a manufacturer to a unique NFT, which acts as the item’s digital twin.
From here, both the NFT and the item can be tracked from warehouse to customer to second-hand buyer and beyond, eliminating the possibility of replication, fraud or counterfeiting.
Bryan Ritchie, CEO of SIMBA Chain, said,
“The global gray and black market and counterfeiting industry has proven to be highly resistant to modern-day technical solutions designed to curb the problem, while physical policing simply cannot match the scope and scale of the issue.
“By registering and digitizing physical items on the blockchain, we can create an immutable public record of each item and then follow its path from retailer to customer and beyond.”
Using NFTs to represent physical items on the blockchain enables industrial materials like aircraft and automotive parts to be tracked in real-time through the supply chain, effectively eliminating risks associated with counterfeit parts or inadequate maintenance.
Blockchain technology can also be used by diamond producers to confirm the quality and ethical sourcing of their precious stones using immutable data which proves the origin of the gemstones.
SIMBA Chain provides governments and enterprises with interconnective blockchain-based solutions to address a number of areas, including supply chain management, financial…
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