Counterfeiting continues to remain a big challenge to brand owners, consumers and the society in general. It’s negative impact on businesses and global trade includes loss of revenue, reputation damage and falling consumer trust amongst many others. Looking at how this menace of counterfeiting / production of fake products affects the society, it can be seen that it causes reduced employment and also increases crime tendency as people tend to engage in it due to quicker and illegal monetary returns.
This problem continues to be a burden to all as unfortunately the counterfeit market keeps getting stronger, with government not been able to completely eradicate this plague and also the expansion of the retail market which actually makes it more easy for these producers of fake products to operate. Different foreign bodies have been set up to tackle this menace but the unpredictable nature of this counterfeiters keep making it difficult.
There are different anti-counterfeiting methods that exist which includes watermarks, security threads, invisible ultra-violet inks, color-shifting inks, holograms, product numbering, fluorescent fiber, micro-print and many others. But down the line all offline authentication methods become compromised, as long as even the slightest financial motive exists. The methods listed above vary in sophistication. Consumers still fall victims because they do not have the knowledge to distinguish genuine products from fakes.
ABOUT SEAL
After careful analysis of the current state of things, Bloomsix an independent company came up with the Seal Network concept which is the best way for anyone to check if a product is genuine or fake. Seal combines NFC chips, which are embedded into physical products, the Seal app, and the Seal Network to provide a fast, simple, and secure way to provide products authenticity and other services.
By facilitating a secure tokenized version of a physical product, Seal allows product-specific services to operate such as transferring ownership, theft prevention, insurance, but also brand activation campaigns and product analytics.
Seal also lets brands earn money every time their products change owners. For the first time in history, brands can earn money from items sold through the secondhand trade, while simultaneously protecting their markets from counterfeiters. Utilizing the power of the blockchain, authenticity can be checked and ownership can be transferred decades from now, even if the product itself is discontinued, as long as people contribute to the decentralized Seal network. Seal wants to bring back confidence to consumers and collectively build a better world in which consumers appreciate the creative work of makers and stop feeding the counterfeit economy.
The Seal Network’s blockchain and NFC chips are tamper resistant therefore making it hard for counterfeiters to make money selling counterfeit products. One tap is all it takes to verify the authenticity of a product. Anyone can now check if a product is genuine. No additional knowledge about other counterfeit detection measures is needed and the process of authentication is almost instant as all that is required is just one tap to verify the authenticity of a product.
Seal is more than an anti-counterfeiting platform as services to be used with each unique product on the Seal Network are enabled. A short list of possible services include the ability to Verify Authenticity, Register ownership, Transfer ownership, Theft-Prevention, Track Parallel Trade, Product Recalls, Product Analytics, Custom Integration. I believe in the vision of Seal Network concept as this is the redefinition of products authentication.
TOKEN DETAILS
Seal is the token to be use in the Seal App to pay for services by consumers and brands. It’s built on the Ethereum Blockchain. There is an ICO currently where the Seal tokens are being sold. The proceedings from the ICO would be used for the full development of the Seal network concept. More on the sale and also allocation of the proceedings can be found on the white paper.
ROADMAP
TEAM
The team lead by Bart Verschoor who is the CEO and Joris Verschoor the Chief Operating and Technical Officer consists of Erudite individuals with vast knowledge on their various fields. The full members of the team and the advisor board can be seen on the white paper.
Link to the white paper as well as other useful channels are provided below;
Website: https://seal.network/
Whitepaper: https://seal.network/seal-whitepaper.pdf
Telegram: https://t.me/sealnetwork
Reddit: https://www.reddit.com/r/Seal_Network/
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=2929809.0
Writer - Dogecoin92
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