SINGAPORE - MediaOutReach - 30November 2018 - AWC Limited, a business firmly rooted in the production of oud oil (its nickname "liquid gold") and related products, has announced it attended BIMG's upcoming 4th blockchaininvestment summit and delivered a keynote presentation to over 1000 invitedguests.
With a growing market value currentlyexceeding 8 Billion USD, AWC's team of experts and partners shared detailsabout their new inoculation patent and blockchain-powered network that are setto respectively boost the production and traceability and trading of thehighest grade oud oil. Senior managementhad painted a clear picture of the company's strategic plans and objectives forthe future.
Currently 50% of total globalproduction is sold to luxury perfume houses. However the highest-grade oud oilis reserved for medicine, with a worldwide annual demand of 800,000 ton andgrowing.
Exclusive woodlands propertiessecured
AWC Limitedhas established exclusive partnerships and agreements with both the PRCgovernment and large Cambodian producer Only Oud Biotechnology Co. Ltd. tosecure highly prized woodlands, broadleaf forests and farmland designated foragarwood agriculture and plant very high-grade agarwood seedlings.
Further, theirproprietary and cutting edge bio-technology are utilized to improve theproduction yield and quality of oud oil from their specially cultivated strandsof agarwood in a closely monitored and controlled environment from start tofinish.
How Will AWC Use Blockchain Tech?
AWC will beusing the latest blockchain technology to manufacture, certify and protect theintegrity of all its products. Any AWC--produced agarwood or oud oil will be traceable and verifiable all the way backto its point of origin up and down the supply chain as it makes its way to itsend user.
Each part ofthe process will be captured and managed via permanent and decentralized blockchainrecords which will stamp out any tampering, counterfeiting or illicit trading.
AWC Limited, is headed by avery experienced senior team of industry bigwigs that include Mr. Leo Chan(CEO), former Financial Controller of Societe Generate HK, Mr. Itamar Kummer (COO), an experiencedbusiness developer in the Israeli market, and Mr. Chhorn Chamrong (CTO), anindustry leader in Cambodia with ties to the government.
For readers interested to learn more about AWC Limited and theirupcoming plans, you can visit their website https://www.agarwfoundation.com.