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According to 2020 research, 81% of the buyers wished brands were more transparent and 29% wanted visibility into the brand's sustainability practices.
Despite digitalization, most companies would agree that the supply chain data tends to exist in silos and these gaps tend to make the authenticity of the product questionable. With Blockchain, the product information, from all the parties involved, becomes highly transparent and without the need of an orchestrator unlike in the traditional system.
Blockchain provides accurate and updated record keeping of the product history, enabling the parties to trace the product back to its source.
Counterfeit trading is now 3.3% of world trade and raking millions. This affects not only the market ecosystem but also the customers. If you are targeted, besides the economic impact, your brand value is lost.
Authentic8 helps you build and preserve your brand value by giving you complete control over knock-offs via an easy-to-adopt verification solution using NFC chips and QR codes that verify your product's authenticity.
You can empower your customers and have them enjoy an authentic experience, at the same time, fighting counterfeits.
Authentic8 uses a 3 step process to facilitate a seamless, codependent ecosystem in the physical and digital world for Product authenticity :
Physically Tag the Product in the real world using encrypted NFC chips or QR codes that are unique and can be custom branded.
Encrypt Product Information or bind it to the chip ID. This encryption is recorded on the blockchain, and it cannot be rewritten or overwritten.
Scan to Verify all transactions against the ID and information retrieved from the blockchain to verify the product's authenticity.