US-China Trade Deficit Relief with | VERITY-EPEM (CHINA) Agreement
Verity International Ltd. has executed a Monumental Strategic Partnership Agreement with China-based EPEM Electronic Technology Co., Ltd, (EPEM). EPEM is a subsidiary of the Chinese Government Commercial Network Construction and Development Center.
This Agreement is exclusive for verification and validation services for the official “Made in China Certified” claim to increase the perceived quality and brand of Chinese products in the international market.
Included in this agreement VERITY has an exclusive provision to provide all Country of Origin COOL verification and validation services regarding imports into China with “Made in USA and Product of USA Certified” claims, to help balance out and provide transparency for the U.S. | China Trade deficit and all COOL claims examples: Made in Canada, Made in Australia, Made in Italy and many more, for import into the Chinese market to provide product transparency using Internet of Things (IoT), Blockchain and Artificial Intelligence (AI).
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Verity One USA, Inc., a Wyoming based systems integration company, has released a production-ready global supply chain management solution for the legal cannabis industry.
Verity is currently negotiating with substantial marijuana quality assurance labs, distributors, and regulators about initiating its Cannabis supply chain solution, with a focus on compliance with industry-specific requirements.
Verity cites interoperability with legacy systems, onboarding of new participants, as well as defective product recall capabilities as among the planned capabilities of the new blockchain platform. Verity will be able to track and trace Cannabis using unique digital signatures on the blockchain. This provides consumers and distributors with authenticated, immutable data on place of origin, quality assurance, and regulatory compliance for their Cannabis.
Adam Reiser CEO of Verity, systems integration expert, and blockchain pioneer said:
“ The emerging Cannabis industry demands a proven track and trace product management solution with a combination of legacy, blockchain, and artificial intelligence systems. The first visible use case of blockchain was Bitcoin (BTC), but the ideal application of blockchain is supply chain management for categories like Cannabis, prescription drugs, food safety and country of origin labeling.”
Three Senate Democrats have directed a letter to the Federal Trade Commission (FTC) insisting it fully enforce its “Made in the USA” labeling standards in the aftermath of recent agency decisions to settle with companies that allegedly marketed foreign-made goods as domestically produced.
Sen. Sherrod Brown of Ohio, Sen. Chris Murphy of Connecticut and Sen. Tammy Baldwin of Wisconsin drafted a memorandum to the FTC on Monday stating they were concerned about recent agency decisions to reach “no-fault, no-money” settlements with companies alleged to have sold imported equipment under a “Made in the USA” label, instead of pursuing fines and admissions of guilt from the firms involved.
“The commission plays a critical role in ensuring that American-made products are truly Made in America,” the senators wrote. “We urge you to require the companies in these cases to pay fines and admit they lied.”
The senators demanded that the FTC use its regulatory authority to enforce the labeling standards, saying that its failure to do so was both diminishing the value and reputation of the “Made in the USA” label and hurting American manufacturers. Firms who maintain the integrity to produce “Made in USA” products deserve to be recognized, and those who do not deserve to be prosecuted if they fraudulently claim to be “Made in USA” in hopes of charging a premium.
“Consumers view American-made goods more positively and are often willing to pay a higher price for them,” the senators wrote. “In addition, consumers may be less likely to have health or quality concerns about a product when its true country of origin is concealed.”
Boca Raton, Florida; New York, New York; London, United Kingdom
Verity has developed a Hybrid system Blockchain, (AI) Artificial Intelligence, and (IoT) Internet of Things technology platform, called Verity One™, to track and trace each individual pack of cigarettes.
Verity International LTD, said, “In order to comply with the EU mandate requiring tobacco companies to employ a system that assures tax revenues and eliminates counterfeiting, Using its powerful and scalable Blockchain and Artificial Intelligence platform, Verity will be able to millions+ packages of cigarettes per day, potentially making us the largest user of the Blockchain measured by transactions per day. Working with Verity, respective EU tax authorities will be able to confirm that all applicable taxes have been paid using an immutable, distributed ledger. The Verity One™ system will also reduce smuggled, diverted and counterfeit tobacco products, improving the safety of consumers. The tobacco industry and Verity will blaze a new trail for consumers, companies, and governments to adopt and use the Blockchain, generating more transparency, revenue, and compliance with the law.”
“I think government officials responsible for collecting tax stamp revenue in every country will sit up and take notice of what Verity is doing, and this may cause them to get warmer and friendlier with the crypto community. In the future, as more federal and state revenues are collected using Distributed Ledger Technology, I think governments will fall in love with the Blockchain. said Alex Lightman, Chief Legitimacy Officer at Verity and author of ‘Brave New Unwired World’, the first book on 4G Wireless.
About the EU government mandate:
On December 15, 2017, the EU Commission published a mandate that all tobacco companies establish an EU-wide track and trace system for the legal supply chain of tobacco products, governmental taxing and distribution requirements set forth by the EU 2019 Tobacco Track and Trace mandate to ensure that all tobacco products sold are genuine. This will guard against smuggling, counterfeiting, diversion, and verifies that all appropriate tax revenue has been collected on each individual tobacco product through an immutable system of record keeping.