<p>银很少自我宣告。它缺乏黄金的神话和铜的增长叙事，但它悄然支撑着现代经济所依赖的系统：电力、效率和精确性。这种低调的普遍性正是其近期表现值得关注的原因。</p>
<p>银价已飙升至历史高位，随之而来的波动性也不容忽视。这本身并不奇怪。商品价格是周期性波动的，价格发现过程可能会很混乱。这次引起广泛关注的并不是波动性本身，而是中国自然而然地进入了讨论之中。不是作为对手或破坏者，而是提醒人们它在全球银加工和供应中扮演的核心角色。</p>
<p>这种可见性很重要。当一个对精炼和出口流动有重要影响的国家调整监管或信号时，市场会有所反应。这种反应不是政治性的，而是机械性的。参与者重新校准那些长期未受到挑战的假设。</p>
<p>这有助于揭示一个重要的观点。银价的近期飙升并不仅仅是由情绪或动量驱动的投机事件。它也是对全球系统对曾被视为完全可互换材料的依赖程度的压力测试。随着监管、法规和战略重要性的交汇，问题从银价多少转变为银的流动性有多可靠。</p>
<p><strong>当信任停止扩展</strong></p>
<p>中国的角色至关重要。它不仅仅是银的矿主，更是全球最重要的加工和精炼者之一。随着出口许可和更严格的监管从理论转变为政策，市场正面临一个他们多年来回避的现实。当一种材料深深嵌入能源系统、电子产品和先进制造中时，对其流动的控制就成为了杠杆。</p>
<p>这就是为什么埃隆·马斯克的警告引起了关注。制造商并不因孤立的高价格而感到不安。他们对不确定性感到不安。一旦对关键输入的获取变得有条件，规划就会迅速崩溃，风险向上游迁移。</p>
<p>更大的问题是，几十年来，商品和贵金属市场一直依赖于信任。证书、精炼厂印章和交易对手的确认足以保持贸易的高效运转。这个模型只在激励保持一致的情况下有效。</p>
<p>一旦政府开始将材料视为战略性，基于信任的系统就开始承受压力。纸质记录变成了瓶颈。文档变得容易被解读。合规变慢，成本上升，脆弱性悄然侵入曾经感觉例行的事务。</p>
<p>银现在正跨越这一门槛。</p>
<p>这不再是关于银是否会继续有需求的辩论。这个问题已经得到回答。真正的问题是，在监管收紧和假设让位于控制的情况下，银将如何被鉴定、验证和允许流动。</p>
<p><strong>SMX 的角色</strong></p>
<p>这就是 <strong>SMX</strong> <strong>(NASDAQ:SMX)</strong> 进入讨论的地方，它不是一个金属故事，而是一个基础设施的故事。在这种情况下，提供至关重要且急需的技术。</p>
<p>SMX 可以独特地将分子级别的标识符直接嵌入物理材料中。一旦嵌入，这种身份就与材料本身不可分割。在加工、熔化或再利用过程中，它无法被移除、改变或丢失。材料携带着自己的证明。</p>
<p>对于银来说，这改变了规则。</p>
<p>不再依赖文件来证明来源或合规，金属本身变得可验证。这一区别在一个朝着许可、审计和最终用途审查的市场中显得尤为重要。还记得那句老话 “信息就是力量” 吗？在这种情况下，它可能意味着竞争生存。</p>
<p><strong>为什么银是一个自然候选者</strong></p>
<p>因为银处于一个不寻常的交汇点。它的价值足以需要控制，工业性足以不可或缺，全球交易性足以暴露验证中的薄弱环节。银的池子现在是共享的。</p>
<p>然而，随着监管的增加，银不再能被视为一个单一的未区分池。出口批准的银、合规的银、回收的银和未经验证的银将不会以同样的方式流动。市场将会对这种差异定价，无论现货价格是否反映这一点。</p>
<p>SMX 允许这种区分在不减缓甚至不停止贸易的情况下发生，通过提供基于物理学的验证，而不是纸质文件。</p>
<p><strong>基础设施，而非叙事</strong></p>
<p>不要误解这里发生的事情。这不是一个 ESG 论点，也不是一个定价理论。这是一个认识，即现代供应链在控制到位后，仅靠信任无法继续扩展。随着银成为基础设施而不仅仅是交易输入，其用户必须要求身份。这正是 SMX 旨在提供的内容，也是它为何更倾向于广泛、包容的市场而非人为稀缺的原因。</p>
<p>SMX 并不从银的稀缺中获益。它从银的重要性中获益。随着材料从开放市场转向许可系统，身份不再是一个特征，而是一个要求。市场往往会迟迟才认识到这些变化。基础设施在叙事赶上之前悄然建立。银的近期波动性并不是故事的全部。故事在于，这种金属已经跨越了一个门槛，现在处于工业、金融和监管系统的中心，这些系统要求提供证明。</p>
<p>而一旦需要证明，它就不会消失。这很好。SMX 提供了这种持久性。</p>
<p><strong>关于 SMX</strong></p>
<p>随着全球企业面临与碳中和相关的新挑战以及满足新的政府和地区法规和标准的复杂挑战，SMX 能够为价值链上的参与者提供其标记、跟踪、测量和数字平台技术，以更成功地过渡到低碳经济。</p>
<p><em><strong>前瞻性声明</strong></em></p>
<p><em>本信息包含 1995 年《私人证券诉讼改革法案》、1933 年《证券法》第 27A 条和 1934 年《证券交易法》第 21E 条所定义的前瞻性声明。这些声明基于对 SMX（纳斯达克：SMX）、其技术、合作活动以及其开发用于回收 PET 和其他材料的分子标记系统的未来事件的当前预期、估计、预测和假设。前瞻性声明并非历史事实。它们涉及风险、不确定性和可能导致实际结果与所表达或暗示的结果存在重大差异的因素。</em></p>
<p><em>本社论中的前瞻性声明包括但不限于其宣布的资本设施及其条款、关于 SMX 的分子标记在美国回收市场整合的预期；FDA 合规标记使回收 PET 进入食品级和其他受监管应用的潜力；SMX 解决方案在全球多样化供应链中的可扩展性；制造商、回收商、监管机构或品牌所有者对基于身份的验证系统的预期采用；将回收塑料转变为可交易或可货币化资产的潜在经济影响；SMX 的塑料循环代币或其他数字验证工具的预期表现；以及分子级认证可能影响塑料行业内定价、合规、可持续性报告或财务策略的信念。</em></p>
<p><em>这些前瞻性声明还受到关于监管发展、对认证回收内容的市场需求、企业采用可追溯技术的速度、全球经济状况、供应链限制、不断变化的环境政策以及与可持续性承诺和回收要求相关的一般行业行为的假设的影响。风险包括但不限于 FDA 或国际监管标准的变化；分子标记大规模部署中的技术挑战；其他公司的竞争性创新；回收或塑料制造中的运营中断；原料或回收塑料价格的波动；以及影响资本投资和工业活动的更广泛经济条件。</em></p>
<p><em>详细的风险因素在 SMX 向证券交易委员会提交的文件中进行了描述，包括 10-K 表格的年度报告和后续的 10-Q 表格季度报告。读者被提醒不要对前瞻性声明过度依赖。这些声明仅在发布之日有效。除非法律要求，SMX 没有义务更新或修订前瞻性声明以反映后续事件、情况变化或新信息。</em></p>
<p><strong>电子邮件</strong>：info@securitymattersltd.com</p>
<p><strong>来源</strong>：SMX（安全事务）公共有限公司</p>
<p>查看 ACCESS Newswire 上的原始新闻稿</p>
<p><img src="https://imageproxy.pbkrs.com/https://app.accessnewswire.com/img.ashx/query-aWQ9MTEyMjQ1Mg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://app.accessnewswire.com/img.ashx/query-aWQ9MTEyMjQ1Mg"/></p>

<p>银价最近的飙升突显了其在现代经济中的关键作用，尤其是在地缘政治因素影响其可用性的背景下。中国在银加工中的重要地位引发了对市场稳定性和信任的担忧，因为更严格的监管可能会扰乱供应链。SMX（NASDAQ:SMX）通过在银中嵌入分子标识符提供了解决方案，确保合规性和可追溯性，而无需依赖传统文档。这一转变强调了在日益关注监管的市场中，经过验证的银的需求，将银从单纯的商品转变为重要的基础设施组成部分</p>

<p>Silver rarely announces itself. It lacks gold's mythology and copper's growth narrative, yet it quietly underpins the systems modern economies depend on: electricity, efficiency, and precision. That unassuming ubiquity is precisely why its recent behavior deserves attention.</p>
<div class="lb-trans"><p>银很少自我宣告。它缺乏黄金的神话和铜的增长叙事，但它悄然支撑着现代经济所依赖的系统：电力、效率和精确性。这种低调的普遍性正是其近期表现值得关注的原因。</p>
</div><p>Silver prices have surged to historic levels, and volatility has followed. That, on its own, is not unusual. Commodities move in cycles, and price discovery can be messy. What has drawn broader attention this time is not the volatility itself, but the moment when China naturally entered the conversation. Not as an adversary or disruptor, but as a reminder of just how central its role is in global silver processing and availability.</p>
<div class="lb-trans"><p>银价已飙升至历史高位，随之而来的波动性也不容忽视。这本身并不奇怪。商品价格是周期性波动的，价格发现过程可能会很混乱。这次引起广泛关注的并不是波动性本身，而是中国自然而然地进入了讨论之中。不是作为对手或破坏者，而是提醒人们它在全球银加工和供应中扮演的核心角色。</p>
</div><p>That visibility matters. When a country with meaningful influence over refining and export flows adjusts oversight or signaling, markets take notice. The response is not political. It is mechanical. Participants recalibrate assumptions that had long gone unchallenged.</p>
<div class="lb-trans"><p>这种可见性很重要。当一个对精炼和出口流动有重要影响的国家调整监管或信号时，市场会有所反应。这种反应不是政治性的，而是机械性的。参与者重新校准那些长期未受到挑战的假设。</p>
</div><p>This helps expose an important point. Silver's recent surge is not purely a speculative episode driven by sentiment or momentum. It is also a stress test of how dependent global systems have become on materials that were once treated as fully interchangeable. As oversight, regulation, and strategic importance converge, the question shifts from how much silver costs to how reliably it can move.</p>
<div class="lb-trans"><p>这有助于揭示一个重要的观点。银价的近期飙升并不仅仅是由情绪或动量驱动的投机事件。它也是对全球系统对曾被视为完全可互换材料的依赖程度的压力测试。随着监管、法规和战略重要性的交汇，问题从银价多少转变为银的流动性有多可靠。</p>
</div><p><strong>When Trust Stops Scaling</strong></p>
<div class="lb-trans"><p><strong>当信任停止扩展</strong></p>
</div><p>China's role is central. It is not merely a miner of silver, but one of the world's most important processors and refiners. As export licensing and tighter oversight move from theory to policy, markets are confronting a reality they sidestepped for years. When a material is deeply embedded in energy systems, electronics, and advanced manufacturing, control over its flow becomes leverage.</p>
<div class="lb-trans"><p>中国的角色至关重要。它不仅仅是银的矿主，更是全球最重要的加工和精炼者之一。随着出口许可和更严格的监管从理论转变为政策，市场正面临一个他们多年来回避的现实。当一种材料深深嵌入能源系统、电子产品和先进制造中时，对其流动的控制就成为了杠杆。</p>
</div><p>That is why Elon Musk's warning landed. Manufacturers are not unnerved by higher prices in isolation. They are unnerved by uncertainty. Once access to a critical input becomes conditional, planning breaks down quickly, and risk migrates upstream.</p>
<div class="lb-trans"><p>这就是为什么埃隆·马斯克的警告引起了关注。制造商并不因孤立的高价格而感到不安。他们对不确定性感到不安。一旦对关键输入的获取变得有条件，规划就会迅速崩溃，风险向上游迁移。</p>
</div><p>The bigger issue that has not been fixed is that for decades, commodity and precious metals markets have run on trust. Certificates, refinery stamps, and counterparties' affirmations were enough to keep trade moving efficiently. That model holds only as long as incentives remain aligned.</p>
<div class="lb-trans"><p>更大的问题是，几十年来，商品和贵金属市场一直依赖于信任。证书、精炼厂印章和交易对手的确认足以保持贸易的高效运转。这个模型只在激励保持一致的情况下有效。</p>
</div><p>The moment governments begin treating materials as strategic, trust-based systems start to strain. Paper trails turn into bottlenecks. Documentation becomes open to interpretation. Compliance slows, costs rise, and fragility creeps into what once felt routine.</p>
<div class="lb-trans"><p>一旦政府开始将材料视为战略性，基于信任的系统就开始承受压力。纸质记录变成了瓶颈。文档变得容易被解读。合规变慢，成本上升，脆弱性悄然侵入曾经感觉例行的事务。</p>
</div><p>Silver is now crossing that threshold.</p>
<div class="lb-trans"><p>银现在正跨越这一门槛。</p>
</div><p>This is no longer a debate about whether silver will remain in demand. That question has already been answered. The real issue is how silver will be qualified, verified, and allowed to move as oversight tightens and assumptions give way to controls.</p>
<div class="lb-trans"><p>这不再是关于银是否会继续有需求的辩论。这个问题已经得到回答。真正的问题是，在监管收紧和假设让位于控制的情况下，银将如何被鉴定、验证和允许流动。</p>
</div><p><strong>Where SMX Fits</strong></p>
<div class="lb-trans"><p><strong>SMX 的角色</strong></p>
</div><p>This is where <strong>SMX</strong> <strong>(NASDAQ:SMX)</strong> enters the discussion, not as a metals story, but as an infrastructure one. In this case, providing vital and much-needed technology.</p>
<div class="lb-trans"><p>这就是 <strong>SMX</strong> <strong>(NASDAQ:SMX)</strong> 进入讨论的地方，它不是一个金属故事，而是一个基础设施的故事。在这种情况下，提供至关重要且急需的技术。</p>
</div><p>SMX can uniquely embed a molecular-level identifier directly into physical materials. Once embedded, that identity becomes inseparable from the material itself. It cannot be removed, altered, or lost during processing, melting, or reuse. The material carries its own proof.</p>
<div class="lb-trans"><p>SMX 可以独特地将分子级别的标识符直接嵌入物理材料中。一旦嵌入，这种身份就与材料本身不可分割。在加工、熔化或再利用过程中，它无法被移除、改变或丢失。材料携带着自己的证明。</p>
</div><p>For silver, this changes the rules.</p>
<div class="lb-trans"><p>对于银来说，这改变了规则。</p>
</div><p>Instead of relying on documents to prove origin or compliance, the metal itself becomes verifiable. That distinction matters in a market moving toward licensing, audits, and end-use scrutiny. Remember the old adage that &#34;information is power&#34;? Well, in this case, it can mean competitive survival.</p>
<div class="lb-trans"><p>不再依赖文件来证明来源或合规，金属本身变得可验证。这一区别在一个朝着许可、审计和最终用途审查的市场中显得尤为重要。还记得那句老话 “信息就是力量” 吗？在这种情况下，它可能意味着竞争生存。</p>
</div><p><strong>Why Silver is a Natural Candidate</strong></p>
<div class="lb-trans"><p><strong>为什么银是一个自然候选者</strong></p>
</div><p>That's because silver finds itself at an unusual intersection. It is valuable enough to warrant controls, industrial enough to be indispensable, and globally traded enough to expose weak links in verification. The silver pool is shared now.</p>
<div class="lb-trans"><p>因为银处于一个不寻常的交汇点。它的价值足以需要控制，工业性足以不可或缺，全球交易性足以暴露验证中的薄弱环节。银的池子现在是共享的。</p>
</div><p>However, as oversight increases, silver can no longer be treated as a single undifferentiated pool. Export-approved silver, compliant silver, recycled silver, and unverified silver will not move with equal ease. Markets will price that difference whether spot prices reflect it or not.</p>
<div class="lb-trans"><p>然而，随着监管的增加，银不再能被视为一个单一的未区分池。出口批准的银、合规的银、回收的银和未经验证的银将不会以同样的方式流动。市场将会对这种差异定价，无论现货价格是否反映这一点。</p>
</div><p>SMX allows that differentiation to happen without slowing or even halting trade by providing verification as a functional result of physics rather than paperwork.</p>
<div class="lb-trans"><p>SMX 允许这种区分在不减缓甚至不停止贸易的情况下发生，通过提供基于物理学的验证，而不是纸质文件。</p>
</div><p><strong>Infrastructure, Not Narrative</strong></p>
<div class="lb-trans"><p><strong>基础设施，而非叙事</strong></p>
</div><p>Don't misunderstand what's happening here. This is not an ESG argument, and it is not a pricing thesis. It is a recognition that modern supply chains stop scaling on trust alone once controls are in place. As silver becomes infrastructure rather than just a traded input, its users must demand identity. That is precisely what SMX is designed to provide, and why it favors broad, inclusive markets over artificial scarcity.</p>
<div class="lb-trans"><p>不要误解这里发生的事情。这不是一个 ESG 论点，也不是一个定价理论。这是一个认识，即现代供应链在控制到位后，仅靠信任无法继续扩展。随着银成为基础设施而不仅仅是交易输入，其用户必须要求身份。这正是 SMX 旨在提供的内容，也是它为何更倾向于广泛、包容的市场而非人为稀缺的原因。</p>
</div><p>SMX does not benefit from silver being scarce. It benefits from silver being important enough to manage. As materials move from open markets to permissioned systems, identity stops being a feature and becomes a requirement. Markets tend to recognize these shifts late. Infrastructure gets built quietly, long before narratives catch up. Silver's recent volatility is not the story. The story is that the metal has crossed a threshold and now sits at the center of industrial, financial, and regulatory systems that demand proof.</p>
<div class="lb-trans"><p>SMX 并不从银的稀缺中获益。它从银的重要性中获益。随着材料从开放市场转向许可系统，身份不再是一个特征，而是一个要求。市场往往会迟迟才认识到这些变化。基础设施在叙事赶上之前悄然建立。银的近期波动性并不是故事的全部。故事在于，这种金属已经跨越了一个门槛，现在处于工业、金融和监管系统的中心，这些系统要求提供证明。</p>
</div><p>And proof, once required, never goes away. That's fine. SMX provides that permanence.</p>
<div class="lb-trans"><p>而一旦需要证明，它就不会消失。这很好。SMX 提供了这种持久性。</p>
</div><p><strong>About SMX</strong></p>
<div class="lb-trans"><p><strong>关于 SMX</strong></p>
</div><p>As global businesses face new and complex challenges relating to carbon neutrality and meeting new governmental and regional regulations and standards, SMX is able to offer players along the value chain access to its marking, tracking, measuring and digital platform technology to transition more successfully to a low-carbon economy.</p>
<div class="lb-trans"><p>随着全球企业面临与碳中和相关的新挑战以及满足新的政府和地区法规和标准的复杂挑战，SMX 能够为价值链上的参与者提供其标记、跟踪、测量和数字平台技术，以更成功地过渡到低碳经济。</p>
</div><p><em><strong>Forward-Looking Statements</strong></em></p>
<div class="lb-trans"><p><em><strong>前瞻性声明</strong></em></p>
</div><p><em>This information contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These statements are based on current expectations, estimates, forecasts, and assumptions regarding future events involving SMX (NASDAQ:SMX), its technologies, its partnership activities, and its development of molecular marking systems for recycled PET and other materials. Forward-looking statements are not historical facts. They involve risks, uncertainties, and factors that may cause actual results to differ materially from those expressed or implied.</em></p>
<div class="lb-trans"><p><em>本信息包含 1995 年《私人证券诉讼改革法案》、1933 年《证券法》第 27A 条和 1934 年《证券交易法》第 21E 条所定义的前瞻性声明。这些声明基于对 SMX（纳斯达克：SMX）、其技术、合作活动以及其开发用于回收 PET 和其他材料的分子标记系统的未来事件的当前预期、估计、预测和假设。前瞻性声明并非历史事实。它们涉及风险、不确定性和可能导致实际结果与所表达或暗示的结果存在重大差异的因素。</em></p>
</div><p><em>Forward-looking statements in this editorial include, but are not limited to, its announced capital facility and its terms, expectations regarding the integration of SMX's molecular markers into U.S. recycling markets; the potential for FDA-compliant markers to enable recycled PET to enter food-grade and other regulated applications; the scalability of SMX solutions across diverse global supply chains; anticipated adoption of identity-based verification systems by manufacturers, recyclers, regulators, or brand owners; the potential economic impact of turning recycled plastics into tradeable or monetizable assets; the expected performance of SMX's Plastic Cycle Token or other digital verification instruments; and the belief that molecular-level authentication may influence pricing, compliance, sustainability reporting, or financial strategies used within the plastics sector.</em></p>
<div class="lb-trans"><p><em>本社论中的前瞻性声明包括但不限于其宣布的资本设施及其条款、关于 SMX 的分子标记在美国回收市场整合的预期；FDA 合规标记使回收 PET 进入食品级和其他受监管应用的潜力；SMX 解决方案在全球多样化供应链中的可扩展性；制造商、回收商、监管机构或品牌所有者对基于身份的验证系统的预期采用；将回收塑料转变为可交易或可货币化资产的潜在经济影响；SMX 的塑料循环代币或其他数字验证工具的预期表现；以及分子级认证可能影响塑料行业内定价、合规、可持续性报告或财务策略的信念。</em></p>
</div><p><em>These forward-looking statements are also subject to assumptions regarding regulatory developments, market demand for authenticated recycled content, the pace of corporate adoption of traceability technology, global economic conditions, supply chain constraints, evolving environmental policies, and general industry behavior relating to sustainability commitments and recycling mandates. Risks include, but are not limited to, changes in FDA or international regulatory standards; technological challenges in large-scale deployment of molecular markers; competitive innovations from other companies; operational disruptions in recycling or plastics manufacturing; fluctuations in pricing for virgin or recycled plastics; and the broader economic conditions that influence capital investment and industrial activity.</em></p>
<div class="lb-trans"><p><em>这些前瞻性声明还受到关于监管发展、对认证回收内容的市场需求、企业采用可追溯技术的速度、全球经济状况、供应链限制、不断变化的环境政策以及与可持续性承诺和回收要求相关的一般行业行为的假设的影响。风险包括但不限于 FDA 或国际监管标准的变化；分子标记大规模部署中的技术挑战；其他公司的竞争性创新；回收或塑料制造中的运营中断；原料或回收塑料价格的波动；以及影响资本投资和工业活动的更广泛经济条件。</em></p>
</div><p><em>Detailed risk factors are described in SMX's filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Readers are cautioned not to place undue reliance on forward-looking statements. These statements speak only as of the date of publication. SMX undertakes no obligation to update or revise forward-looking statements to reflect subsequent events, changes in circumstances, or new information, except as required by applicable law.</em></p>
<div class="lb-trans"><p><em>详细的风险因素在 SMX 向证券交易委员会提交的文件中进行了描述，包括 10-K 表格的年度报告和后续的 10-Q 表格季度报告。读者被提醒不要对前瞻性声明过度依赖。这些声明仅在发布之日有效。除非法律要求，SMX 没有义务更新或修订前瞻性声明以反映后续事件、情况变化或新信息。</em></p>
</div><p><strong>EMAIL</strong>: info@securitymattersltd.com</p>
<div class="lb-trans"><p><strong>电子邮件</strong>：info@securitymattersltd.com</p>
</div><p><strong>SOURCE:</strong> SMX (Security Matters) Public Limited</p>
<div class="lb-trans"><p><strong>来源</strong>：SMX（安全事务）公共有限公司</p>
</div><p>View the original press release on ACCESS Newswire</p>
<div class="lb-trans"><p>查看 ACCESS Newswire 上的原始新闻稿</p>
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