XOX Berhad (“XOX”), a mobile virtual network operator that has transformed into an innovative technology company, today announced that local leading Chinese restaurant group Oversea Enterprise Berhad (“Oversea”) has adopted TraX powered by AntChain Traceability-as-a-Service (“TaaS”) to further enhance food traceability and safety, and to strengthen brand trust. Oversea is the first local SME adopting AntChain TaaS in Southeast Asia.
AntChain TaaS is a blockchain-based traceability solution combined with Internet of Things (IoT) technologies to enable trust, increase efficiency and provide end-to-end transparency on information along the supply chain.
Powered by AntChain TaaS, ‘TraX’ is a web and mobile application platform developed by XOX to provide scalable, agile and cost-effective solutions for SMEs and enterprises to achieve greater product traceability and information transparency on a supply chain, thus to prevent fraud and protect product authentication.
Oversea Enterprise has adopted TraX powered by AntChain TaaS to trace its mooncake products.
By simply using the ‘TraX’ app to scan the QR code on the packaging, consumers can access product information including key ingredients, manufacturing and expiry dates, Halal certification, and follow the product journey from manufacturing to delivery.
The company plans to extend the information traced by TraX to include the origin and supply chain of key ingredients in the near future.
Mr. Soh Jin Yiat, Group Deputy GM, Oversea Enterprise Berhad said: “As a player in the F&B industry, food safety is the topmost priority for us.
The adoption of blockchain technology such as AntChain TaaS is part of our commitment to consumers and our continuous efforts in enhancing information traceability and transparency on our supply chain.
We believe it will help us combat counterfeit products in the market and further strengthen brand trust.”
In August 2020, XOX entered into a strategic partnership with Alipay Labs, an affiliate company of Ant Group to collaborate in blockchain-based technology solutions in the region.
“We are delighted to partner with AntChain for this exciting venture. We believe that blockchain technology is key to accelerate digital transformation for enterprises and SMEs, with which, brands can gain consumer trust by adopting a transparent way of doing business as well as by creating a better consumer experience”, said Mr Ng Kok Heng, CEO, XOX Berhad, “Following the roll out of TraX in the food industry, we plan to develop more customized solutions on the Trax platform for businesses of different sizes and for the pharmaceutical sector.”
“Trust is the foundation of what we do, and we believe in building trust through innovation and technology,” said Kenny Tan, Head of AntChain International Business, “The food industry in particular needs enhanced product traceability due to challenges such as the lack of end-to-end information transparency, high risks of tempering and forgery of supply chain information, as well as operational risks such as product recalls and food safety. Blockchain-based solutions such as AntChain TaaS is our answer to strengthen trust in the industry.”
“Since the launch of AntChain in 2015, we have pioneered over 50 blockchain commercial applications and scenarios. 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 and enterprises in a data-driven world,” Kenny added.
Under the partnership, XOX and AntChain also plan to introduce Creator ID, built on AntChain Digital Asset solution, to enable digitization of real assets on blockchain, such as copyright, cultural art, etc, leading to a more efficient transfer and utility of assets in both on-line and off-line scenarios.
XOX Bhd is the first Mobile Virtual Network Operator (“MVNO”) to be listed in Bursa Malaysia in 2011. With more than 2.5 million subscribers nationwide, the Group is the largest MVNO in Malaysia that is focusing on delivering innovative and creative products to consumers. XOX is committed to empower Malaysian to generate income by creating new economy through virtuous cycle of innovation.
OVERSEA ENTERPRISE BERHAD is incorporated and domiciled in Malaysia, and it has been listed on the ACE Market of Bursa Malaysia Securities Berhad since 1 April 2010. The Group has ventured into the operation of Dim Sum, Mooncakes, pastry, Café and Restaurant since 1970. Oversea’s business model, besides the operation of food service outlets, also includes the expansion into the manufacturing of confectioneries particularly moon cake since 1986. Our manufacturing concern exports to various countries including the United States, Australia, New Zealand, Indonesia, Hong Kong, Canada, Macau, Papua New Guinea and the Netherlands.
AntChain is Ant Group’s blockchain business. According to IPR Daily and patent database IncoPat, Ant Group ranked first in terms of the number of published blockchain-related patent applications from 2017 to the six months ended June 30, 2020. Since the launch of Ant Group’s blockchain business in 2015, the company pioneered the use of AntChain in over 50 blockchain commercial applications and scenarios including supply chain finance, cross-border remittance, charitable donations and product provenience.
AntChain platform consists of three layers including the underlying Blockchain-as-a-Service open platform, digitalization of assets, and circulation of digitalized assets. By enabling businesses to digitalize their assets and transactions, we establish trust in multi-party collaborations. The AntChain platform generated over 100 million daily active items such as patents, vouchers, and warehouse receipts, for the twelve months ended June 30, 2020.
For more information on AntChain, visit: https://antchain.net/
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