Kolmar invested in blockchain startup Monolabs Tuesday.
Under the agreement, Monolabs would develop a blockchain platform, which would enable customers to verify the authenticity of products and to learn everything about Kolmar products.
The blockchain platform would track the production and distribution of products as well as verify the authenticity of products.
The platform would help Kolmar upgrade confidence from customers on its products and brand, according to a Kolmar spokesman.
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