International tobacco company Philip Morris is considering use in tracking stamps on cigarette boxes, the firm’s spokesperson confirmed to Cointelegraph on April 26.
Philip Morris International is looking to implement emerging technologies such as in order to improve the efficiency, and cost effectiveness of its business, the company’s representative said in an email to Cointelegraph.
Specifically, Nitin Manoharan, Philip Morris’ global head of architecture and tech innovation, has recently estimated that Philip Morris alone could save up to $20 million by reducing tax stamp paperwork and fraud with , according to crypto industry outlet . Manoharan reportedly claimed that manual work and the associated counterfeit risks end up costing the industry and $100 million a year.
While Manoharan reportedly said that tax stamp tracking is only one of six applications that Philip Morris is looking to go live with next year, the company’s spokesperson clarified to Cointelegraph that Philip Morris will follow the government’s guidance on the matter.
Earlier this year, Reuters that a number of tobacco shops in started selling () for despite the regulatory uncertainty.
Recently, and Internet of Things () firm Evrythng a partnership to apply and IoT tech to leverage better transparency for consumer goods supply chains.
Published at Fri, 26 Apr 2019 14:16:42 +0000
