SEAL-COMBATING COUNTERFEITS AND RESTORING CONSUMERS' CONFIDENCE

The business of counterfeits and fakes is one of the largest underground industries in the world and growing rapidly. The impact on the global economy is in billions of dollars. With cheap overhead, high profits and cloak-and-dagger business style, the global black market industries appear to have come to stay.

The intervention of SEAL at a crucial period of the economy, i would say, is a life saver! Seal is a blockchain powered product authentication service platform which allows for prompt verification of the authenticity of products purchased. Seal aims to protect the efforts of manufactures, designers, programmers and creators who have labored and in their sweat have provided us with genuine materials. The seal project is directed towards encouraging them to keep doing what they know how to do best without the traumatizing threats of imitators and producers of fake products. Seal aims to be the platform that millions if people can count on when acquiring new and used products

BENEFITS OF SEAL NETWORK
• Seal would help to restore market integrity by reducing to the barest minimum the number of fake products in the market. Sites like Ebay, Alibaba, Amazon, Walmart e.t.c would be able to integrate seal technology to verify products before they get listed in their stores.
• Seal aims at verifying authenticity of products. Consumers cannot only rely on looking at minute details of products in order to determine its authenticity. Seal makes it easy for anyone with a smartphone to recognize genuine or fake products effortlessly.
• Restoration of consumers’ confidence: Early identification of genuine products would remove uncertainty and boost the confidence of an average consumer. Purchases would be made without doubs and setbacks
• Theft Prevention: Products carrying the seal chips when stolen can be easily tracked, so long as they have been marked and reported stolen by the owner with the use of the seal app. A custom message would be displayed when the item is being scanned. As a result, the thief would not be able to sell the product as the new buyer of the stolen item would see the displayed custom message while scanning the item before purchase. This to an extent would bring down the rates of theft incidence in the society.
• Seal technology aims to destroy the devastating consequences of counterfeits. Fake products have been produced with substandard raw materials which may have damaging effects to our health and body in general. Identification of genuineness would preserve the health and improve the quality of life.

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MECHANISM OF ACTION
SEAL makes use of NFC (Near-field Communication) which is a set of communication protocols that enables two electronic devices, one of which is usually a portable device i.e a smartphone to establish communication by bringing them within 4cm of each other. These chips are embedded into manufactured products. When these products are scanned with a smartphone containing the seal app (The seal app is compatible with Android and IOS (iPhone 7 upward and will be downloadable from Google play store and Apple play store before the end of the year), the product will be revealed either as authentic or fake.

COMPONENTS OF THE SEAL NETWORK
API GATEWAY: The Seal API is the main method of interacting with the seal network. The gateway dispatches requests to underlying micro-services. This allows for easy change and upgrade of the underlying platform, while still maintaining backward compatibility with the seal app.

MICROSERVICES: This is a flexible and efficient approach to building and operating software. It splits large application into smaller components which are independent of each other. Here, micro services allows for splitting of the huge amount of work which goes into building, deploying and updating the seal network into smaller, more manageable and more isolated components.

BLOCKCHAIN: The seal token is built on ERC20 token standard as Ethereum is the most popular smart contract blockchain available. This blockchain will be used to store all transaction regarding a specific product, such as product information, references, brand information, history about ownership and supply chain information.

SEAL TOKEN
The seal tokens are required to enter the ecosystem. They power the seal network and enable low cost payments between the seal network, consumers and brands. The ultimate goal of the token is to become the currency of authenticity, a currency optimized for the exchange of consumer products. In this way, the seal token will be a medium of exchange and can be used to pay for products directly. Purchase of products with seal tokens directly claims actual ownership while payment to the seller also occurs via the blockchain. This act of payment of products with seal token provides both buyer and sellers a guaranteed exchange of goods. With only fiat money transactions, there is no way to tell with certainty whether the paper money used is not even a counterfeit itself.

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TOKEN SALE
A maximum of 1.2billion tokens will be minted and this amount will never be exceeded. Only 492million tokens would be allocated for the token sale rounds. If tokens in the presale rounds remain unsold, they will be offered in the mainsale. Offered tokens that remain unsold after the mainsale will be distributed proportionally to all token sales participants.

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