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Enjoy Your Mooncake With Blockchain
September 29, 2020 News

 

This mooncake festival, Oversea Enterprise, who are known for their mooncakes, will allow customers to trace their mooncake products via blockchain adoption. The restaurant chain is the first local SME to adopt AntChain’s Transparency as a Service (TaaS) in Southeast Asia through XOX Berhad.

Using TraX powered by AntChain TaaS, customers can access product information including key ingredients, manufacturing and expiry dates as well as Halal certification. They can also follow the product journey from manufacturing all the way to delivery.

AntChain TaaS is a blockchain-based traceability solution that is combined with IoT technologies to enable trust, increase efficiency and provide end-to-end transparency on information along the supply chain. Since the launch in 2016, they have pioneered over 50 blockchain commercial applications and use cases.

XOX developed the mobile application platform TraX to provide scalable, agile and cost-effective solutions for SMEs and enterprises to achieve greater product traceability and information transparency in a supply chain. This ultimately prevents fraud and protects product authentication.

According to Soh Jin Yiat, Deputy GM, Oversea Enterprise Berhad, the adoption of blockchain technology is part of their continuous efforts in enhancing information traceability and transparency of their supply chain. Initially, consumers can know where and how their mooncakes are made. Eventually, consumers will also be able to trace information on their products down to the certification and sourcing of raw products.

“If we want to check with our suppliers and ensure they are meeting all health regulations for their products, blockchain provides the transparency for this”, said Soh.

As blockchain is based on nodes, each time a node is added from a supplier or consumer, the company can get more transparency. This ultimately allows them to save a lot more time and also be able to have transparent visibility on their products from source to delivery.

Following a strategic partnership with Alipay Labs, XoX will collaborate with the AntChain Group in blockchain bases technology solutions in the Asia Pacific region. Ng Kok Heng, CEO of XOX Berhad said they planned to develop more customised solutions on the TraX platform for businesses of different sizes, including the pharmaceutical sector.

“Blockchain technology is key to accelerate digital transformation for enterprises and SMEs as brands can gain consumer trust by adopting a transparent way of doing business as well as creating a better consumer experience”, said Ng.

He added that most Malaysian businesses are still unsure as to how they can apply blockchain to their businesses. Which is why he strongly recommends companies to first understand how blockchain can be used to help them improve their business. XOX is also looking to partner with organisations in developing the right tools for them.

Echoing him was Kenny Tan, Head of AntChain International Business. While there are several solutions offered by AntChain, the current focus in APAC is TaaS and AntChain open platform, of which they are training talents and developers to be able to localise the blockchain applications. By creating an ecosystem in the country and the region, more businesses will be able to chain up the industries. Their partners like XOX will be influential in providing solutions to the client.

Dato Ng Wan Peng, COO of MDEC, explained that Malaysia is also providing the ecosystem for early adopters to experiment with blockchain. There have been various industries working and testing with blockchain including Fintech and Insuretech, who are now working on a proof of concept blockchain application. TNB has also just started blockchain trials for renewable energy.

XOX and AntChain also plan to introduce Creator ID, built on AntChain Digital Asset solution, to enable digitalisation of real assets on blockchain, such as copyright, cultural art and such, leading to a more efficient transfer and utility of assets in both online and offline scenarios.

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