AWC Ltd to Reveal New Agarwood Inoculation Patent and Blockchain Technology at BIMG Summit
SINGAPORE – Media OutReach – 27 November 2018 – AWC Limited, a business firmly rooted in the production of oud oil and related products, has announced it will attend BIMG’s upcoming 4th blockchain investment summit and deliver a keynote presentation to over 1000 invited guests.
AWC’s team of experts and partners will share 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 is expected to paint a clear picture of the company’s strategic plans and objectives for the future.
Why is Oud Oil so expensive?
Oud oil and its source Agarwood have been used for over 3500 years in religious ceremonies, traditional rituals, local medicine and herbal teas, and of course, exotic fragrances.
Oud is the result of an incredibly rare natural tree “infection”, a very rare tree only found in a few small areas in China and South-East Asia.
Currently 50% of total global production is sold to luxury perfume houses such as Versace. However the highest-grade oud oil is reserved for medicine, with a worldwide annual demand of 800,000 ton and growing.
With a growing market value currently exceeding 8 Billion USD, the rare oil really earns its nickname “liquid gold”. Compared by weight, oud oil is in fact more expensive than gold.
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 bio-technology are utilized to improve the production yield and quality of oud 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.
For readers interested to learn more about AWC Limited and their upcoming plans, you can visit their website http://www.agarwfoundation.com or follow their official WeChat account “AWC Limited”(WeChat ID: awclimited).