Secrets of eradicating counterfeiting in digital commerce

Alaho15

Although it seems to be far off plans, we are enclosed by counterfeit products. From fashion and retail goods to software package, electronics, digital media, piracy, and intellectual property, reports place the price of counterfeiting somewhere around $600bn a year within the U.S.A. alone. In fact, the International Chamber of Commerce predicts that the “negative impacts of counterfeiting and piracy are projected to drain US$4.2 trillion from the global economy and place 5.4million legitimate jobs at risk by 2022.”

The solution isn’t as secluded as several thought. Rather than discarding the terribly systems that have accelerated their digital transformation, firms will implement blockchain technology inside an integration layer of their bequest systems to provide an audit trail, bringing integrity back to their systems. Blockchain may be utilise to track components and service provenance and ensure the originality of goods. This will facilitate to decrease the potential for counterfeit product getting into the supply chain and damaging brand reputations.

The sheer size of the counterfeiting industry is often overwhelming, and till recently, tracking the manufacture and supply of legitimate goods versus counterfeit ones had been near impossible. Not to mention the dearth of enforceability over cyber crime and theft of IP.

Thankfully, the blockchain presents variety of good real use cases to resolve these issues, and not solely defend firms from the economic loss, but also ensure the safety and security of the consumer.

As previously reported by TBO, firms in South Korea have already united to make a blockchain copyright protection platform for the music industry. The world’s largest diamond producer, De Beers, is equally progressing development of a blockchain technology initiative to span the diamond supply chain in order that it will give one, tamper-proof and permanent digital record for each diamond registered. By doing so, it will clamp down on the trade of so-called conflict diamonds.

What is simplyBrand

SImplyBrand is a robust system of anti-counterfeit protection using blockchain technology, Artificial Intelligence, and Human Layer to eradicate internet counterfeiting. SImplyBrand is a blockchain based company who’s platform combines Artificial Intelligence with the immutable and decentralized nature of the blockchain, to create real transparency and efficiencies in business processes.

simplyBrand is a platform that is designed to register a new product, certify it, enter it into the database and determine the authenticity of the goods. The platform is not so easy, because it is built on the blockchain technology; it has the support of artificial intelligence and can even work with a person who gets a reward for his actions. Over the years, cyber-terrorist has taken benefit of digital commerce loopholes to scam harmless buyers. SimplyBrand is made to eliminate such difficulties by adding advanced options & effectiveness in deal verification.

HOW SIMPLEBRAND WORKS

Brands will utilize the simplyBrand platform to request brand-protection services. Digital commerce platforms will be scanned always for product information to make a consistently growing database with profiles. The information will be investigated utilizing AI, Natural Language Processing, semantic analysis, image recognition technology and Human layer to confirm whether a given product is authentic or fake. After a product is resolved to be a fake, utilizing the immutable and distributed features of blockchain technology, simplyBrand will publish the blacklist on the blockchain and effectively reduce the actions of counterfeit retailers by increasing their value of business and making new barriers to their continued operations.

Third-party will have access to the product information, delete insulting product pages and report the status of their work to the platform and claim their rewards. Human layer would comprise of publicly support members and third-party specialist organizations who do the enforcement job. Human layer will get tokens as remunerations and can either utilize them to buy brand privileged items on simplyBrand platform or sell them on exchange. Brands can purchase tokens from exchange, and buy brand-protection services on simplyBrand platform.

Right now, the team is following the roadmap with nice accuracy, showing full confidence in their project.

2013/05

SimplyBrand begins to provide big data and AI solutions for brand

2017/10

Anticipated anti-counterfeit demand from existing customers, received RFP

2018/05

SimplyBrand.oi Blockchain solution project with market verification MVP, kickoff

2018/10

Crowd sourcing MVP

2018/12

PoC2 Counterfeit Risk detector

2019/05