Security Matters (SMX) has made significant achievements since the completion of its Nasdaq SPC merger with Continental Tires and Sumitomo Corporation. Some of the solutions the blockchain recycling startup has under its sleeve include physical recycling sorting machines, an associated blockchain solution and an invisible marker that helps with traceability.
Sumitomo will act as the exclusive distributor for the startup’s products for non-ferrous metals. This includes metals like nickel and aluminum. The former is widely used in electric cars to make batteries. The arrangement will ensure the metals are obtained ethically, assured in quality, and accurately identified in the final goods. This will contribute greatly to recycling efforts.
Nothing specific has been arrived at yet with Continental. However, the invisible marker was put to test without incorporating blockchain technology. This helps Continental identify the origin of the rubber and confirm its sourcing.
“We see huge potential in marker technology. It will help us in the future to ensure that the natural rubber we use in our tires is grown and sourced entirely responsibly,” said Claus Petschick, Head of Sustainability at Continental Tires. “Over the long term, we believe that marker technology could help to make the sometimes highly complex processes in our supply chains more transparent and verifiable.”