Seal - The currency of authenticity

May 10, 2018

Brands are the proof of tears, pains and hard work of designers, scientists, developers and creators. It is a show of their hard work and sleepless nights. This must be cherished by people to keep going. But this seem not to be the case nowadays when soulless or counterfeit products has filled the market thus rendering the efforts of brands powerless. These fake products have affected different sectors which we can all tell the story. All countries of the world have been infected. Research has shown that 85% of the world’s counterfeit products come from the Asian continent. And it was discovered that the major drive behind counterfeit products is finance. The funds received from selling counterfeits are used to finance all sort of criminal acts.

Primary Market

World’s commerce has been negatively affected and many lives has known pains of death or sickness for consuming fake products.

The prices of fake products in the primary market are a little lower than the genuine one. Sellers claim that the fakes are only offered at discounts so there is no way consumers will know

Second hand markets

Platforms like Amazon, Alibaba, Flipkart, and eBay have greatly suffered because counterfeiters are active on their platforms. Consumers loose trust in these platforms over time for their past experiences with counterfeits. People do not just stop buying the particular products that are counterfeited, they exit the market all together.

Midnight Shiftings

Manufacturing partners which brands trusted with their sensitive materials such as secrets, designs, models etc. produce unlicensed products at night after producing the licensed products during the day to be sold in the black markets. These products compete directly with licensed products and there are absolutely no way or means of knowing that the products are fake.

Present verification of genuine products?

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Fake products are exact replica of the original. There are virtually no way of knowing the genuine products. There has been a cat-and-dog race between brands and counterfeiters over the years. Complex designs, QR codes and other static verification means has been adopted by the brands but all to no avail. Customers are not expected to understand these complex designs as to be able to scrutinize products and static means of verifications of genuine products are not tamper proof and they are easily replicated because verification data are offline and not changing.

Solution

The solution to these problems are not far-fetched as SEAL comes with a solution that aims to permanently terminate counterfeits while profiting brands.

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Seal is a blockchain powered product authentication and services platform which will provide consumers and manufacturers with product trust. Seal enables anyone the ability to confidently, quickly and economically verify the authenticity of any product which is Seal enabled. The Seal proprietary technology utilizes NFC compatible Seal chips which can be effectively, securely and discretely incorporated with any physically manufactured product. Upon integration of the Seal chip, the product is paired with the digital counterpart on the blockchain. Verification of authenticity is instantaneous with a simple tap or scan with any smart device.

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Seal creates a decentralized application which allows anyone to check if a brand or product which is seal enabled is authentic or not. This is to protect the brands from counterfeiters. Seal creates dynamic chips which is built on the blockchain, one that changes state whenever it is interacted with or scanned. Thus activation information are neither offline nor static but dynamic and stored on the blockchain. This makes it uneasy to copy as verifying data changes as soon as it is verified or scanned.

To know if any product is genuine or fake, NFC chips are embedded into physical products while manufacturing, the chips are activated on the blockchain by the Brands, so the power or verification secrets always lies with the brands.

Seal allows brands to make profit over their products whenever there is a transfer of ownership. This is the first time this will occur in the history of humanity. This also ensures that the cost of securing the originality of products (like buying of chips, or paying seal for their services) are recovered and profits are made over secondhand products.

Via the seal Dapp consumers can mark a product lost or stolen, and add a custom message for the party that scans the product next. The geolocation of the place where the stolen product is scanned is recorded for easy tracking by the owner.

Seal also allows Brands to track where their products are sold.

SEAL token

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Seal is built on the ERC20 token standard. It is used for payment of all services offered by seal. It is also used to pay for services of consumers and brands.

The Token Details: