Integrating Blockchain Technology into Eco-Friendly Rice Straw Products, Masverse Technologies Partners with ADA Biotech to Pioneer Sustainability in the Green Industry

Bukit Mertajam, 19th February - Masverse Technologies has been appointed by ADA Biotech to integrate MasChain blockchain technology into their eco-friendly biodegradable rice straw products, enabling blockchain verification and immutable data audit trails.

The signing ceremony of the Memorandum of Agreement (MoA) between Masverse Technologies Sdn Bhd and ADA Biotech Sdn Bhd was held today at Masverse Web 3.0 Hub in Auto-City, Perai. This historic collaboration signifies the unwavering commitment of both parties to environmental preservation and sustainability in driving changes and initiatives that promote green practices and innovation within local and regional communities.

Mr. Chew Kian Kok, Chief Executive Officer of Masverse Technologies Sdn Bhd, and Mr. Tan Yeow Chuan, Founder & Chairman of ADA Biotech Sdn Bhd, signed the MoA in the presence of YB Dato’ Seri Sundarajoo A/L Somu, the Penang State EXCO Member for Housing & Environment cum Vice Chairman of Penang Green Council, accompanied by YB Tuan Gooi Hsiao Leung, the Penang State Legislative Assembly for Bukit Tengah. The attendees also include Masverse Technologies’ CFO, Mr. Koay Seong Jiann, and CBO, Ms. Venus Khor.

During his opening speech, Mr. Richard Koay Seong Chuan, Chief Marketing Officer of Masverse Technologies, emphasised the critical importance of environmental awareness in today’s world, highlighting the unprecedented urgency for sustainable and eco-friendly solutions. He stated, “Through Masverse’s platform, built on the foundations of security, transparency, and innovation, utilising blockchain technology to create tamper-proof digital identities and track the lifecycle of eco-friendly products, in conjunction with ADA’s production process, we will not only enhance the credibility of their eco-friendly products but also contribute to reducing carbon emissions and plastic pollution.”

Dato’ Seri Sundarajoo, in his address, expressed his satisfaction, noting that Masverse Technologies and ADA Biotech, both young companies originating from Penang, are tirelessly driving initiatives for environmental protection and sustainable development. He highlighted their collaborative spirit in protecting the planet and their synchronised efforts with the Penang state government’s green advocacy, aiming to make Penang the greenest state in Malaysia by 2030.

During her remarks, Ms. Maxwen Ma, Chief Business Development Officer of ADA Biotech, mentioned that the company was founded in 2019 with the aim of protecting the environment from plastic pollution by offering revolutionary products to completely replace plastic usage. “The rice straw product as the company’s flagship item, with coffee residue straws soon to follow, both being 100% decomposable and biodegradable, and environmentally safe. We won international food certifications such as FDA, HACCP, HALAL, and GMP, as well as recent accolades including first prize in the open category of the 2021/22 Swiss Innovation Challenge ASEAN, inclusion in the top ten finalists of the 4th Korea-ASEAN Business Model Competition for SDGs, and winning first prize in the 2023 Ecothon in Malaysia for Sustainable Consumption and Production.”

With the signing of the MoA, both parties aim to leverage cutting-edge blockchain technology to revolutionise processes in the green and recycling industry, and work together to ensure the seamless integration of the technology and the accuracy of the data captured on the blockchain.

As part of the collaboration, Masverse Technologies will provide the MasChain blockchain technology and related software to ADA Biotech, and offer technical support and training to their staff. Meanwhile, ADA Biotech shall ensure the availability of necessary data and information for blockchain entry, promote the traceability feature to customers and stakeholders, and offer feedback and collaboration on any necessary adjustments to the technology.

By integrating Masverse Technologies’ innovative blockchain solutions, including the MasDID platform, MasChain, and tamper-proof audit trail into ADA Biotech’s existing systems, it will enhance the robust distributor ID management and supply chain traceability, verifying the origin and sustainability of its products with ease.

In essence, every step from production to distribution will be securely recorded, ensuring authenticity and quality of the straw products. Together, we are shaping a greener, and a more accountable and sustainable future.

This article is provided by Masverse Sdn Bhd

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