Tacans Partners With Provenance Tags, Concordium Blockchain Based Anti-Counterfeiting Solution
Tacans AG, a Switzerland-based web3 venture builder, has partnered with and invested in Provenance Tags, a blockchain-based counterfeit solution built on Concordium.
Earlier this week, Provenance Tags announced that it would integrate with the Concordium blockchain for its low cost, carbon neutral manufacturing and supply chain Track and Trace solution. Its aim is to combat the $1.7 trillion counterfeit and pirate goods market, of which counterfeit pharmaceuticals alone account for over $200 billion annually.
Provenance Tags is the first ever solution to integrate a blockchain with a new standard of advanced Near Field Communication Tags integrated within the products, providing optimal anti-counterfeiting and tamper-proof application. The solutions are end-to-end encrypted and have built-in Anti-counterfeiting product protection based on tamper-proof Tags that in combination with the Concordium blockchain offer immutability of changes tracked and provide verifiable proof of origin.
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Established in 2021, Tacans AG has built a reputation as a web3 venture investor and builder. The company has launched five projects including SpaceSeven, Veax, Concordex, DX25 and CryptoX and incubates DeFi projects through its subsidiary Tacans Labs. The company was co-founded by Danish serial entrepreneurs; Lars Seier Christensen, founder of Saxo Bank and the Concordium blockchain, as well as Mathias Lundoe Nielsen, founder and former CEO of Nustay.
“Blockchain technology has the potential to revolutionize countless industries with real-world use cases. Counterfeiting isn’t just an economic issue; in many cases it can be life or death. For instance, counterfeit pharmaceuticals contribute to nearly 1 million deaths every year, so a tangible solution could save lives. We’re excited to work with Provenance Tags to solve real issues using blockchain technology,” said Mathias Lundoe Nielsen, founder and CEO of Tacans AG.
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“Provenance Tags is excited to announce that we are building on the Concordium blockchain, and our partnership with Tacans AG, a Venture Builder powerhouse in the space. Our Apps and Cloud Native infrastructure seamlessly integrated with Concordium blockchain and ID framework offers best-in-class Track & Trace solutions for small and large companies in many industries,” says Niels Soerensen, founder of Provenance Tags.
“The solution developed by Provenance Tags, using the Concordium blockchain, presents an opportunity to implement blockchain technology into real-world use cases helping companies implement Track & Trace solutions, protect brand-value and build customer loyalty,” says Torben Kaaber, Head of Commercial at Concordium.
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