MSEC is a system developed based on hyperledger blockchain technology, used to record the company’s production capacity and time allocation through the use of smart contracts to convert the equivalent value of output capacity produced per second. Since time is a suitable index to calculate the productivity returns of various industries, the MSEC system is generally applicable to all types of enterprises involved in production output.
MSEC chose the Wau gold mine in Papua New Guinea as its first chosen application based on the comparatively low risk involved.
On Thursday 31/5/2018, Papua New Guinea’s Minister for Mining, Hon. Johnson Ibo Tuke, MP was also present in the simple but extravagant ribbon cutting ceremony hosted in Sheraton Hotel, Hong Kong.