DSS Asia President Vincent Lum’s Keynote Highlights Potential for Blockchain as Superior Brand Protection Technology
October 10 2018 - 7:30AM
Document Security Systems, Inc. (NYSE American: DSS), ("DSS"), a
leader in anti-counterfeit, authentication, and diversion
protection technologies, announced today that DSS Asia President,
Mr. Vincent Lum presented a keynote speech, “Brand Protection with
Blockchain Technology” at the Programme of LSCM Logistics Summit
2018, which was held on Friday, October 5th, 2018 at the Grand
Hall, Hong Kong Science Park in Hong Kong. Themed
as
“Actions in the Belt and Road Initiative with
Innovation and Technology”, the Summit focused on how
innovative technologies create positive change on the industry and
capture the opportunities brought by the Guangdong-Hong Kong-Macao
Bay Area development and the Belt and Road Initiative.
“The supply chain for a single brand can involve
up to 20,000 companies, especially with global sourcing of
materials and manufactured product. Unfortunately, the dark
side is weakness in supply chain security which exposes
intellectual property and creates opportunity for criminals,”
stated Mr. Lum. “This lack of control is directly responsible
for the current $1.7 trillion counterfeit industry, making it the
largest criminal enterprise in the world. We need to secure
the supply chain and provide a means so that companies can
integrate brand protection platforms easily and securely.
Blockchain technology will allow companies to create an
immutable peer-to-peer ecosystem allowing for more efficient, less
expensive and highly secure interoperability,” added Lum.
On March 19, 2018, DSS announced its partnership
with the Hong Kong Logistics and Supply Chain MultiTech R&D
Centre (LSCM) to conduct research focused on developing the
next generation of DSS’ Brand Protection products utilizing
blockchain technology to secure product transactions across
multiple channels, including retail and online distribution.
Currently, Mr. Lum’s team is leading the development and viability
of an advanced brand security product platform utilizing multiple
technologies including RFID and the DSS-patented smartphone
authentication product, AuthentiGuard™.
“Ultimately, we feel that using blockchain as a
foundation for activity could significantly reduce counterfeiting
and fraud; give brand owners greater visibility into their network,
markets and customers; and provide massive improvements in the
efficiency of transactions,” added Lum.
ABOUT DOCUMENT SECURITY SYSTEMS,
INC.For over 15 years, Document Security Systems, Inc.
(“DSS”) has protected corporations, financial institutions, and
governments from sophisticated and costly fraud. DSS'
innovative anti-counterfeit, authentication, and brand protection
solutions are deployed to prevent attacks which threaten products,
digital presence, financial instruments, and
identification. AuthentiGuard®, the company's flagship
product, provides authentication capability through a smartphone
application so businesses can empower a wide range of employees,
supply chain personnel, and consumers to track their brands and
verify authenticity. For more information on DSS, visit
www.dsssecure.com.
Keep up-to-date on DSS events and developments,
join our online communities at Facebook, Twitter and LinkedIn.
Contact Information:
Document Securities Systems, Inc.Investor
Relations Tel: (585) 232-5440Email: ir@dsssecure.com
FORWARD-LOOKING
STATEMENTSForward-looking statements that may be contained
in this press release, including, without limitation, statements
related to the Company’s plans, strategies, objectives,
expectations, potential value, intentions and adequacy of
resources, are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act and contain words such as
“believes,” “anticipates,” “expects,” “plans,” “intends” and
similar words and phrases. These forward-looking statements are
subject to risks and uncertainties that could cause actual results
to differ materially from the results projected in any
forward-looking statement. In addition to the factors specifically
noted in the forward-looking statements, other important factors,
risks and uncertainties that could result in those differences
include, but are not limited to, our ability to continue the growth
in sales of AuthentiGuard and manage our expenses, as well as those
risks disclosed in the “Risk Factors” section of the Company’s
Annual Report on Form 10-K for the year ended December 31, 2017,
filed with the Securities and Exchange Commission on March 6,
2018. Forward-looking statements that may be contained in
this press release are being made as of the date of its release,
and the Company assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/e6c04256-3ad0-46f1-8872-be6cbea4f8e1
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