By 2022 the global trade in piracy and counterfeit goods could reach $2.3 trillion, according to the International Trademark Association.
Counterfeiting global problem that has been magnified by technology which has made easier to produce and ship these products.
Luckily, technology could also provide the answers of how to solve the counterfeit product industry.
Seal is a new blockchain platform that is combing NFC compatible chips with a decentralised database to simplify the process the authenticity of any product.
How Seal Works
Seal adds an NFC chip to the product that the brand wants to track. That chip is then linked to a unique entry on a decentralised blockchain database. When a customer is considering purchasing a product, and wants to authenticate it, they can scan the product using the Seal mobile app. This will tell them immediately whether or not the product is genuine or not. They will also be able to find out information about that product. Once purchased the customer can choose to claim ownership of the product. This is added to the blockchain so that there is a permanent record of ownership.
Making Money Off The Secondary Market
Seal also opens a huge new revenue opportunity for brands that integrate with the network. At the moment brands only make money when the product is sold the first time. But that product will usually change hands many times over the course of the products lifetime. The brand misses out on all of the revenue from this secondary market. With seal the brand would actually be able to earn revenue from these secondary sales. When a buyer purchases the product in the secondary market they can register their ownership on the seal network. To do this they pay with seal tokens. Revenues from this can then be allocated to the original brand. These sales could take place decades into the future creating a long term stream of income for brands and creators.
Seal Token Sale
Price of seal tokens: 1 ETH = 7000 seal tokens
Total supply: 1.2 billion seal tokens
Total number of tokens for sale: 492 million seal tokens
Links:
Seal website: https://seal.network/
Seal white paper: https://seal.network/seal-whitepaper.pdf
Seal Telegram: https://t.me/sealnetwork
Seal Bitcointalk ANN: https://bitcointalk.org/index.php?topic=2929809.0
Seal Facebook: https://www.facebook.com/SEALnetworks
Seal Twitter: https://twitter.com/seal_network
Seal Medium: https://medium.com/sealnetwork