Global Counterfeiting has for a long time been a great threat to individuals, companies and world economies. With the growing e-commerce, brands find more difficulty in tracing counterfeit goods and proving authenticity in the highly fragmented Internet space, which yields massive revenue losses and brand reputation damage. On top of that, Consumers are continuing to suffer from fraudulence without effective precaution.
Kaufman Chang who is the founder and CEO of simplyBrand says, ”For the previous years, simplyBrand has made use of data intelligence to successfully protect brand image and drive business results for the Fortune 500 and renowned clients that include ASUS and popular luxury brands. As we establish a new era that is powered by blockchain and AI technology, we believe the whole retail economy will benefit from this organic platform, which really makes every purchase matter.”
Simply Brand was established with a vision of building a world of e-commerce which is free from counterfeiting and where the identity of the brand and the consumers are protected against fake products. In order to have this vision executed, SimplyBrand has created a unique amalgamation of AI, blockchain and crowdsourced participants. Upon its platform, the brands can seek services to detect sellers and online merchants involved in selling fake products. In line with Technology, the platform also seeks the aid of crowdsourced participants who can directly report the counterfeit products. The data of all such merchants is recorded on a public Blockchain thereby creating a sort of blacklist hence creating an economic and reputation hurdle for counterfeiters. In simple terms Simply brand covers everything which can be the beginning of the end of the counterfeit product market.
How simplyBrand benefits the parties involved
The brands can safeguard their image and reputation by identifying the counterfeit version of their products using the services of simplyBrand and making the consumers aware of such merchants.
The Crowdsourced participants are the ones responsible for reporting the counterfeit products by verification or with AI’s aid. These eventually help create a clean, authentic e-commerce marketplace that respects intellectual property.
SimplyBrand will improve the effectiveness of the enforcement agencies as they would have direct access to the list of verified counterfeit products.
The Law firms will as well benefit from this platform as they will have access to quality information about the counterfeit products and the risks involved with them.
Definition of features involved
AI Technology & Machine Learning
SimplyBrand's has an AI and machine learning technology enabling the platform to effectively acquire new data and verify counterfeit product information, which results in a more efficient way to fight counterfeits online.
Blockchain Technology
The immutable and distributed features of blockchain technology, enable simplyBrand to publish the blacklist on the blockchain and effectively reduce the actions of counterfeit retailers by increasing their costs of business operations while creating new barriers to their continued operations.
SBA Token
These are SimplyBrand valuable tokens which can be received as rewards and can either be used by participants to purchase brand privileged items on the simplyBrand platform or sell them on the exchange.
Brands can purchase tokens from the exchange, and purchase brand-protection services on the simplyBrand platform.
The Proof of Concept 1
Impact Calculator
The simplyBrand ecosystem enables brands in measuring the possible loss of revenue on online marketplaces.
The system operates by providing transparency within the e-commerce to allow brands further their understanding of the extent of counterfeiting and how to end the problem.
Proof of Concept 2
Counterfeit Risk Detector
Through the counterfeit risk detector, anyone can easily submit a product URL and the simplyBrand platform will evaluate the risk of it being counterfeit through a percentage score.
The simplyBrand presale
This commenced on January 10th, 2019 and is still ongoing. It commenced with a series of bonus programs as elaborated below:
First Mover Program
This sale constitutes 14 stages. At the commencement of the first 11 stages, the first participants to invest will share a bonus pool and receive bonuses according to the amount that they invest in at the given stage.
The Referral Bonus Program
This involves participants referring friends to join the pre-sale with a unique referral code and if they do so they receive 1,000 SBA for every valid referral. For a referral to be considered as valid the participant investing in simplyBrand’s pre-sale must have input the unique referral code.
SimplyBrand Ambassador program
After the conclusion of the presale, the top 100 participants that have accumulated the most investment amount from their referrals will be eligible to split a pool of SBA according to their referral contribution. The participant will have a higher chance of receiving a large bonus as he refers more people to invest in SimplyBrand and the pool will be determined by how much ETH simplyBrand raises as a whole.
In conclusion,SimplyBrand is combining technology and people by channeling their efforts in the direction of creating an e-commerce world free of counterfeit products, and their possible dangerous effects. The platform is focused at ensuring that a customer can buy a product without the fear of being tricked into making a purchase that ends up being fake, a wastage of money and also a precarious to health and wellbeing. The destruction made by the counterfeit products has left a dent in the market and has affected the buyers and the brands equally. Regardless of the many failed efforts to overcome this problem, SimplyBrand is rendering the best solution to the issue of counterfeiting.
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Disclaimer:
The information contained in this post shall not be taken as financial advise but education and entertainment purposes. Its created according to a personal research. Please endeavour to make research about it before considering to invest in it.