SMX (Security Matters) PLC, a company specializing in digitizing physical objects for a circular economy, has announced the launch of a new blockchain-based technology solution aimed at enhancing data-driven reporting for compliance with the EU Deforestation Regulation (EUDR) in the Natural Rubber industry. The announcement was made in a press release dated July 3, 2024. The new solution is designed to provide a centralized reporting system that ensures traceability and transparency in the supply chain, from the sourcing of materials to the final product, while addressing ethical sourcing, child labor, conflict minerals, and chemical use. The platform integrates various data sources, including satellite imagery and blockchain records, to offer a comprehensive view of supply chain activities. It also features a...Show More

SMX (Security Matters) PLC, a company specializing in digitizing physical objects for a circular economy, has announced the launch of a new blockchain-based technology solution aimed at enhancing data-driven reporting for compliance with the EU Deforestation Regulation (EUDR) in the Natural Rubber industry. The announcement was made in a press release dated July 3, 2024. The new solution is designed to provide a centralized reporting system that ensures traceability and transparency in the supply chain, from the sourcing of materials to the final product, while addressing ethical sourcing, child labor, conflict minerals, and chemical use. The platform integrates various data sources, including satellite imagery and blockchain records, to offer a comprehensive view of supply chain activities. It also features a customizable compliance dashboard for real-time updates and alerts, supporting EUDR due diligence and reporting requirements. SMX's technology aims to reduce compliance and audit costs, lower reputational risks, and enhance productivity. The company's recent initiatives, including the successful marking of 21 tons of natural rubber and collaboration with Continental for greater transparency in the tire supply chain, demonstrate its commitment to ethical sourcing and sustainability. The press release also contains forward-looking statements regarding the company's future plans and potential risks.