Authoreon has revealed the very first blockchain-based retailer authorization and product fingerprinting process for brands seeking to minimise counterfeiting of their goods.
With new research showing that the global trade for take goods has reached half a trillion dollars a year, Authoreon’s new authorization badge system is an ideal solution for businesses falling foul of the fake goods market.
Businesses — with luxury brands being the biggest target for counterfeiters — will now be able to selectively supply retailers with a snippet, which retailers can then incorporate into their online storefronts. Retailers will then display an ‘Authorized Retailer’ badge, letting customers know the brands that the retailer is authorized to sell, and display information showing that the products are legitimate and the attendant product data is fully up to date. This ‘Authorized Retailer’ badge will be displayed on the retailer’s homepage and at product category level. At the product level, an ‘Original Product’ badge will be displayed, illustrating that the product in question is unique, original and authorized for sale on the platform.
Brands will be able to grant access to these trusted retailers via an extensive product management system. Authoreon enables brands to control who sells their products, and build a roster of trusted, authorized retailers. Brands will have the ability, for the first time, to track and trace the life-cycle of products through the entire supply and ownership chain. Additionally, Authoreon badges will be generated for each authorized retailer and original product, all unique and as trackable and scannable as a fingerprint.
Authoreon, specialists in brand and goods authentication and protection, also offers their own utility token (AUN) — currently trading on IDEX, Forkdelta and Etherdelta — and are applying the same powerful methods of verification to branded goods used every day on the Blockchain for financial transactions. They are also the driving force behind the Brand Protection Alliance, which seeks to foster collaboration between brands and service providers.
Chris Heinze, CEO of Authoreon.io, said, “We’re seeing shocking numbers in terms of counterfeit goods, and we felt like something needed to be done. We have developed a powerful, very flexible system that benefits brands and retailers alike. Brands can track their goods to a very fine degree, and retailers carry a badge of trust that lets consumers know they’re getting the real deal.
“It’s important for brands to be able to protect themselves against counterfeiting, as they lose a tremendous amount of money every year because of it. We’re happy we can build trust between retailers, brands and consumers, because everyone deserves the best protection possible against fake goods.”
To find out more, visit https://www.authoreon.io/brand-protection/
Authoreon provides authorization, authentication and certification services to brands and retailers seeking to protect their goods from the counterfeit trade. Authoreon also distributes their own token — available on the IDEX and Etherdelta exchanges.