XOX to develop AntChain-powered blockchain solution for pharmaceutical sector

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KUALA LUMPUR (Sept 28): XOX Bhd is keen to develop customised solutions on its TraX platform for the pharmaceutical sector, following the roll out of the platform for the food industry.

Chief executive officer Ng Kok Heng said TraX is a web and mobile application platform developed by XOX and powered by AntChain’s Traceability-as-a-Service (TaaS), a blockchain-based traceability solution combined with Internet of Things technologies to enable trust, increase efficiency and provide end-to-end transparency on information along the supply chain.

AntChain is a blockchain business of Alibaba’s payment arm Ant Group.

Ng said TraX is able to provide scalable and cost-efficient solutions for the small and medium enterprise (SME) sector to achieve greater product traceability and information transparency on a supply chain, thus prevent fraud and protect product authentication.

“XOX is talking with many potential partners in the industry keen to adopt TraX,” he told a media conference here today.

Earlier, Ng said a Chinese restaurant chain under Oversea Enterprise Bhd has adopted TraX to further enhance food traceability and safety.

Oversea Enterprise is the first local SME to adopt AntChain TaaS in Southeast Asia.

AntChain head of international business Kenny Tan said AntChain has pioneered over 50 blockchain commercial applications and use cases since its inception in 2016.

“Together with local partners such as XOX, we look forward to bringing these blockchain innovations to Southeast Asia to accelerate the digital transformation of SMEs in a data-driven world,” Tan said.

XOX and AntChain also plan to introduce Creator ID, built on AntChain Digital Asset solution to enable digitisation of real assets such as copyright and cultural art on blockchain.