Originals is a blockchain product which helps to protect the legacy of the products and their uniqueness. This is a generic Infrastructure developed to eradicate the counterfeit products. This application can be tailored to meet any domain and products to keep the Brand value going strong.
TRACKING
Trace Provenance
Some products have legacy and their heritage has been passed on to generations and the products uniqueness has been popular over the years and it is continuing now as well. Customers have the pride and joy to buy those products irrespective the price.
Trust is established using technology. Originals is our product which is solution for stopping counterfeit products by using blockchain as a technology
Problem Statement
There are many companies which are suffering from counterfeit products coming into the market and destructing the brand value and business.
For example, markets like Clothing, Organic Foods, Video Games, Toys, Makeup, Education Certificates, Work Experience, Pharmaceuticals, Watches, Electronics, and Nutritional Products etc. are the victims of the counterfeit products as most of these brands are very expensive and desirable brands for many people.
At the same time most of these are easy to reproduce at low rates so they become common target. Counterfeit products deceive the consumer and consumers are under impression that they are purchasing legitimate items.
Counterfeit products are largely produced to target Online Market and places where verification takes longer or non existent
Customer’s attention is more on the price and discount of the product so customers who have limited knowledge are attracted to counterfeit products due to the cheap or discounted price.
It’s not just about the money that the companies are losing, but the name that they go by will have universal impact.
Studies say that there are around 20 Billion Dollars worth of counterfeit products alone in Canada
Also reports reveal that there are more noise from cloth Based companies about the counterfeit products, but not by electronics or pharmaceuticals, one of the trivial reasons to think is the damage to the brand will be more in these cases if they are publicized<
So, the question is how can the consumers get educated and ensured to get original products. Manufactures, Distributors, Retailers and Consumers are the victims of this problem
We can solve it
Solution
As the common adage says, “Prevention is better than Cure”.
Using our technology manufacturers can go an extra step with us to ensure their customers on how seriously they consider about providing quality not in Manufacturing but even after the sale to ensure they are getting what they paid for.
Trust is established using technology. Originals © is our generic Solution that can be tailor made to the respective domain on demand, which is solution for stopping counterfeit products by using “Blockchain” as a technology.
With this technology solution we can enable manufacturers to prevent this
How it works:
Storing complete history of a transaction starting from manufacturer to consumer using distributed ledger (Shared Database) which is immutable. That means we can trace the product movements end to end (Manufacturer – Distributer – Retailer – Consumer) across the world.
Each step contributing data to a network that can prove the products origin, trace its ownership and prove product legitimacy. This information can be accessed from anywhere in the world using our mobile app/ web app ensuring that consumer is receiving original product.
Sample Industry and its size impacted with counterfeit.
According to Market Watch, Global dietary supplements market valued at USD 132.8 billion in 2016 and is expected to reach USD 278.02 billion by 2024 and This is an industry that has almost no regulation and essentially operates on an honor code