Products made on the island of Gozo could soon come with a digital label based on blockchain technology in order to guarantee their authenticity.
The project is one of three announced today by Economy Minister Silvio Schembri that will be using distributed ledger technology.
Spearheaded by the Gozo Ministry, the project will seek to ensure the authenticity of products made in Gozo. It will use distributed ledger technology to digitally label Gozitan products during their manufacturing process with the whole process being documented within the system.
“All information will be digitally certified by being linked to physical labels or stickers carried by the products themselves,” Schembri said.
When the consumer scans the product’s QR Code, they will receive “proof and assurances” that the product is an authentic one that was actually made in Gozo.
The projects announced by the minister are the result of Malta’s distributed ledger technology sector strategy which was launched in 2019.
Another project that will be implemented using the technology will ensure that official documents relating to intellectual property rights, like copyright or patents, are registered on protected digital networks.
“New ideas, designs, or patents need to be protected by trademark registration. This way, the developer can rest assured that the ownership, title and business value of that idea belongs to them,” Schembri said.
He added that the system would ensure that the original records are always in the owner’s possession, which can in turn control how they are used.
The third project relates to sensitive documents held by the Planning Authority. A distributed ledger technology system will “improve the transparency of the process”.
Schembri said that the added security was needed “because if there is a change in the information in the Planning Authority’s data system, this change will be flagged due to a mismatch with what has been registered in the public blockchain system”
Schembri stressed that contrary to what many believed, there was more to blockchain technology than just cryptocurrency and it was able to facilitate secure transactions and information management.
To date, he said that 40 licensed companies or service providers were operating in the virtual assets sector, with 306 applications presently under review.
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