By Stella Goh

XOX Berhad wants to develop customized solutions on its TraX platform for the pharmaceutical sector, following the roll out of the platform for the food industry.

According to the Chief Executive Officer Ng Kok Heng, 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 technolgoies 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. 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.

According to Ng, he also stated earlier, a Chinese restaurant chain under the 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.

According to the AntChain head of international business Kenny Tan, AntChain has pioneered over 50 blockchain commercial applications and use cases since its inception in 2016. XOX and AntChain also plan to introduce Creator ID, built on AntChain Digital Asset solution to enable digitalization of real assets such as copyright and cultural art on blockchain.

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