The processes and technologies that power product development are evolving rapidly," said Bill Eibon, CTO of p-Chip Corporation. "But methods for monitoring those processes need to keep up with production technology. This agreement will advance visibility, traceability and quality assurance to a level that is not only revolutionary, but also absolutely necessary for the machine-powered realities of our modern industrial value chains."

The blockchain solution of Merck KGaA, Darmstadt, Germany is a patented technology that allows anchoring digital data with real-world objects by leveraging crypto anchors to create crypto objects and therefore creating digital twins. p-Chip microtransponder technology is used as a digital twin enabler for Merck KGaA, Darmstadt, Germany empowering Digital Twin features like digital traceability, human-machine collaboration, and complex processes automation through Smart Contracts.

The joint development agreement focuses on advancing M2M visibility and communication among thousands of companies and vendors.