INTRODUCTION
Have you ever thought the product you buy from a store is real? Do you know how to check whether it is a counterfeit one?
Counterfeit products are becoming a headache to the manufacturers. Counterfeit trade is a multi billion industry which effects the entire marketplace. It is estimated that by 2022 the counterfeit market will be worth approximately near 3 trillion. Not only the physical goods market are effected by these, the service industry including film industry also faces losses. The detection of these infringements are generally difficult and are pretty much costly. With the help of blockchain technology these infringements can be easily detected and avoided.
WHAT IS STOPTHEFAKES?
Stopthefakes is a blockchain based marketplace which allows its users to detect violations of intellectual property rights, producers and distributers of counterfeit goods and pirates anywhere in the world. It presents an all in one solution to avoid counterfeiting and black markets. Stopthefakes is trying to bridge the gap that exists between manufacturers and consumers. The lack of proper information and communication is what that helps to nourish the counterfeit market.
Each and everyone of us are becoming a prey for the market makers. We are actually getting fooled, Our right to expression is getting suppressed.
Their main objectives includes:
1.) Ensure proper communication between right holders and consumers.
2.) To make legal proceedings much easier and avoiding the burden on the consumers.
3.) To reward the customers according to their contribution.
4.) To use blockchain technology to avoid altering of results.
HOW DOES IT WORKS?
The system mainly consists of two types of people namely Requestors and Doers. Requestors are the one who are in interest to find the infringements, maybe for his own benefit or maybe for a third party. Doers are peoples who search for informations about violations and they submit proof to the requestors. Initially the Requestors submit information about his product including other details like locality where the counterfeit may be produced etc. The data is checked by moderators and are shown in the requestors catalogue. The Doer who sees this information checks for available proofs like pictures, videos etc about infringement and if available submit it to the system. It is reviewed by the moderators and is processed to Requestors. If accepted the Doers are rewarded by the Requestors.
Thus complications associated with detection of counterfeits and also the huge operation costs are reduced. The team plans to release an all in one app for the platform including web extensions. A Web based version of the platform is already live and running. You can check it out HERE
STK TOKENS
STF tokens are used to fuel the platform. They are Erc-20 tokens built on native Ethereum ecosystem. The main function on STF token is to reward the Doers for their fulfilled tasks. All transactions within the platform uses STK tokens. They have a total fixed supply of 29,000,000 out of which 70% are allocated for the tokensale.
TOKENSALE
The public tokensale is live and it runs until 21st April 2018. Tokensale has a softcap / hardcap of 1,621,000 / 20271,000 with an exchange rate of 1 ETH = 2400 STF.
CONCLUSION
With the growing Counterfeit market, manufacturers are searching for a permanent resolution to avoid it. Billions of dollars are being spent to detect and avoid it, but still there lacks a permanent solution to it. STOPTHEFAKES presents a unique and revolutionizing idea that can overcome this problem with the help of blockchain technology. With a professional and experienced team they can indeed achieve this task.
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