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Protect from Counterfeit and Illegal Trade 

Problem

Counterfeit products cause serious damage to economies, industries, consumer health and safety.

According to OECD & EUIPO imports of counterfeit and pirated goods are worth nearly half a trillion dollars (461 billion USD) a year, or around 2.5% of global imports

Illicit Tobacco estimated lost revenue $40bn in 2016

If the global illicit trade were eliminated, governments would immediately gain at least $31 billion, and from 2030 onwards save over 160,000 lives a year.

Current protection methods are expensive and not effective, especially in countries with high levels of corruption.

Existing solutions cannot protect from copying of QR/Barcodes/RFIDs.

 

Solution

The problem can be solved by having more control over supply chain and by providing Consumer with a trusted way to validate authenticity of the product. This approach assumes that for every produced item a unique identifier (SLID) is generated and attached to that item. All identifiers are stored in a secure digital storage so at any moment in time identifier can be checked against the storage.

Our solution is utilizing Blockchain-based Distributed Ledger (Ledger) to store the data.

 

The Ledger will provide required data protection and trust. It allows the data to be stored and managed by multiple equal parties (e.g. members of the Supply chain, such as Suppliers, Manufacturers, Distributors, etc) without central authority. This approach eliminates possibility of fraud by one/single authority. Any attempt to falsify data will be detected and rejected by the members of Blockchain network, who independently validate and control the correct version of the data.

Typical cases solved by SigmaLedger
  • Random product code/label is generated and attached to counterfeited product unit

  • Genuine product code/label is replicated and attached to counterfeited product units.

  • Selling product unit, produced for a certain region in a different region (Illicit trading)

  • Product code/label is stolen from the authentic unit and attached to counterfeit unit

Business values
  • Reduce amount of counterfeit

  • Increase consumer trust

  • Engage consumers in counterfeit detection

  • More instruments for instant taking counterfeited items off the market

  • Reduce illicit trading: instant detection and insights

  • More tools to detect not authorised retailers and stolen items

  • Brands can create product profile on the platform including detailed description, pictures, links, etc.; Consumer can compare them to the actual product unit on the shelf

  • Brands can authorize retailers; Consumer can check if seller is authorized

  • Brands can specify target region for a batch and get alert, when the unit is sold outside of the region

  • Consumer can check whether Retailer legitimately owns the product he is selling

  • Consumer can report suspicious product units directly brand and/or other parties

  • Once batch is confirmed as counterfeit, Brand can allert all current owners of units from the batch and prevent all future purchases

Core features

Technology

Blockchain-based Distributed Ledger

Unique SLID is generated for each product unit. SLID can be scanned by mobile application to retrieve details about product unit. Supported SLID tag formats:

  • QR code

  • Barcode

  • RFID

  • NFC  

Comprehensive public API and Web portal to manage products, batches, inventory, complains, etc

Mobile applications for Consumers and Retailers to validate product authenticity and to submit complains