And..
Our discussions with Life Science companies provide strong evidence that the market opportunity is substantial and that our business plan is aligned with the customers’ product specification needs. While we are pursuing applications in several other markets as well, we believe that the Life Sciences and anti-counterfeiting represents the most substantial and most immediate opportunities. We further believe that our advantages in delivery of large volumes of high quality, narrow spectra, high performance QDs and other nanomaterials via our patented continuous production process makes us an attractive supplier. While we continue to pursue direct sales opportunities, we are also pursuing license agreements with strategic partners that can accelerate adoption in key verticals.
We believe that our recent move into the anti-counterfeiting market utilizing the QDX Quantum Ledger Blockchain Anti-counterfeiting platform is among the first in the quantum dot industry. Piracy and counterfeiting cost businesses more than $200 billion annually and account for the loss of more than 750,000 jobs in the US alone. Counterfeit drugs cost the global pharmaceutical industry approximately $18 billion in lost profits annually and according to Interpol, result in as many as one million deaths annually. QDs and other custom nanoparticles added to ink can be used to create unclonable unique “quantum fingerprints” for every package using current printing technology, and these “fingerprints” can be quickly verified utilizing a tokenized blockchain distributed ledger technology with a handheld device or optical in-line screening in manufacturing track and trace systems. Our plan is to be the industry innovative leader in this market space.
Although the development and launch of our QMC HealthID was part of our intended business trajectory, we were encouraged by the founder of the World Nano-foundation very early in the Covid pandemic to contribute our blockchain know how to provide a solution for a secure means to authenticate the entire testing process. We have now developed a complete solution that continues to evolve to meet specific customer workflows and now has an eco-system of test kit suppliers. While we remain very excited about the prospects for this product and see a number of uses beyond Covid we also recognize the need to rapidly gain broad adoption as the field of apps continues to grow and we believe this will lead to consolidation. We believe licensing this technology to a large Tech or Life Science company that has the reach and resources to achieve broad and rapid adoption is a desirable outcome and would enable Quantum Materials Corp. to re-invest into our core technologies and further expand our I.P. portfolio into the Life Science area.
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Our discussions with Life Science companies provide strong evidence that the market opportunity is substantial and that our business plan is aligned with the customers’ product specification needs. While we are pursuing applications in several other markets as well, we believe that the Life Sciences and anti-counterfeiting represents the most substantial and most immediate opportunities. We further believe that our advantages in delivery of large volumes of high quality, narrow spectra, high performance QDs and other nanomaterials via our patented continuous production process makes us an attractive supplier. While we continue to pursue direct sales opportunities, we are also pursuing license agreements with strategic partners that can accelerate adoption in key verticals.
We believe that our recent move into the anti-counterfeiting market utilizing the QDX Quantum Ledger Blockchain Anti-counterfeiting platform is among the first in the quantum dot industry. Piracy and counterfeiting cost businesses more than $200 billion annually and account for the loss of more than 750,000 jobs in the US alone. Counterfeit drugs cost the global pharmaceutical industry approximately $18 billion in lost profits annually and according to Interpol, result in as many as one million deaths annually. QDs and other custom nanoparticles added to ink can be used to create unclonable unique “quantum fingerprints” for every package using current printing technology, and these “fingerprints” can be quickly verified utilizing a tokenized blockchain distributed ledger technology with a handheld device or optical in-line screening in manufacturing track and trace systems. Our plan is to be the industry innovative leader in this market space.
Although the development and launch of our QMC HealthID was part of our intended business trajectory, we were encouraged by the founder of the World Nano-foundation very early in the Covid pandemic to contribute our blockchain know how to provide a solution for a secure means to authenticate the entire testing process. We have now developed a complete solution that continues to evolve to meet specific customer workflows and now has an eco-system of test kit suppliers. While we remain very excited about the prospects for this product and see a number of uses beyond Covid we also recognize the need to rapidly gain broad adoption as the field of apps continues to grow and we believe this will lead to consolidation. We believe licensing this technology to a large Tech or Life Science company that has the reach and resources to achieve broad and rapid adoption is a desirable outcome and would enable Quantum Materials Corp. to re-invest into our core technologies and further expand our I.P. portfolio into the Life Science area.
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