Corruption is everywhere. This is a tough pill to swallow but the quicker we realize it, the easier will be do something about it. Mikhail Krzhanovsky realized this quite some time ago while he worked as a security expert for the Russian Federal Tax Service. Counterfeit, plagiarism, and a number of criminal activities done by people with low standards and poor ethics take away income from entrepreneurs of every level. This is why the former federal official went out of his way to do something about it on his own by creating StopTheFakes.io, a platform centered on offering the means to post bounties to locate falsifications by right holders who suspect infringement of their property rights.
The plan to make StopTheFakes work
The success of the StopTheFakes platform relies on an army of conscious customers that the company has labeled “The Doers” these are the people who will work within the ecosystem of the platform to identify pirated items and get a good reward out of it in the form of a tokenized utility that can be traded using an exchange service. StopTheFakes aims to be the first service in the world based on Blockchain technology used to detect and fight illegal commercial operations that transgress trademarks and copyrights. Working with the system is as simple as downloading an app to a smart device and taking a picture with it when something doesn’t seem right.
The reasons to develop StopTheFakes
The team working on StopTheFakes has a long list of good reasons to work with their project. The most relevant of all is the staggering numbers of piracy on basic consumer goods worldwide. The Organization for the Economic Cooperation and Development (OECD) has released a report indicating that the counterfeit business raises almost $461 billion a year alone and the gross of that money does not pay any kind of tax, and neither helps the economy of any nation, it only helps to fill the pockets of the people working on this type of business. The number also represents almost 2,5% of all the imports around the planet which means that everyone could get scammed with a pirated item when they least expect it.
Looking at growth and expansion
At the moment, the developing team of StopTheFakes has made a lot of work on their own with a website and Android app that are already up and running. But they need additional financing to expand their operation and make it a global one. This is why they are currently opening the pre-ICO sale of a token utility nicknamed the STFCoin. Their main goal is to create an Interplanetary File System (IFPS) to be able to store massive amounts of data in a decentralized network that will allow for the instant localization of any type of piracy activity. This information will offer any company right-holder the chance to fight the claim of their property using the legal system of the country where the infringement is located.
As far as utilities go StopTheFakes is one of the most useful ideas ever developed to help out the companies and legal systems of the world fight against piracy by offering them and their customer base the chance to keep high-quality standards of their favorite brands by making low-quality bootlegs go away. For a more detailed explanation of the long terms plans of the company you can visit https://stopthefakes.io/