SINGAPORE – Media OutReach – 30 November 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 blockchain investment summit and delivered a keynote presentation to over 1000 invited guests.
With a growing market value currently exceeding 8 Billion USD, AWC’s team of experts and partners shared details about their new inoculation patent and blockchain-powered network that are set to respectively boost the production and traceability and trading of the highest grade oud oil. Senior management had painted a clear picture of the company’s strategic plans and objectives for the future.
Currently, 50% of total global production is sold to luxury perfume houses. However, the highest-grade oud oil is reserved for medicine, with a worldwide annual demand of 800,000 ton and growing.
Exclusive woodlands properties secured
AWC Limited has established exclusive partnerships and agreements with both the PRC government and large Cambodian producer Only Oud Biotechnology Co. Ltd. to secure highly prized woodlands, broadleaf forests, and farmland designated for agarwood agriculture and plant very high-grade agarwood seedlings.
Further, their proprietary and cutting-edge biotechnology are utilized to improve the production yield and quality of our oil from their specially cultivated strands of agarwood in a closely monitored and controlled environment from start to finish.
How Will AWC Use Blockchain Tech?
AWC will be using the latest blockchain technology to manufacture, certify and protect the integrity of all its products. Any AWC –produced agarwood or oud oil will be traceable and verifiable all the way back to its point of origin up and down the supply chain as it makes its way to its end user.
Each part of the process will be captured and managed via permanent and decentralized blockchain records which will stamp out any tampering, counterfeiting or illicit trading.
AWC Limited, is headed by a very experienced senior team of industry bigwigs that include Mr. Leo Chan (CEO), former Financial Controller of Societe Generate HK, Mr. Itamar Kummer (COO), an experienced business developer in the Israeli market, and Mr. Chhorn Chamrong (CTO), an industry leader in Cambodia with ties to the government.