Fake & counterfeits of products causes huge loss in sales to retailers. Moreover, this results in erosion of brand trust and brand loyalty especially with luxury products
Building and continuously reinforcing product authenticity demands very high recurring costs on retailers, manufacturers as well as law enforcement
Customers are losing faith that product labels are not genuine and these labels are only a means to charge a higher price. Sellers are not being able to show or prove the actual product value and definition
Genuinity certificates of Ingredients of High value products are not accessible for end customers to evaluate the quality of the product
Using the supply chain monitor built on top of blockchain technology, retailers can provide their customers with indisputable proof of provenance and authenticity of their products at every step in the supply chain. Moreover, it can empower customer’s trust in the products by providing assured proof of product purity and origin, as well as the accuracy of ingredient listings. This will be accomplished by recording product information in a blockchain that persists throughout the entire food supply chain. This solution can help sellers to fight against counterfeit products since the counterfeit products are not able to provide or maintain a transparent supply chain information. This solution keeps an immutable and hack proof storage of all the information in the supply chain of a product. A customer can easily access the information of the product to see the important information such as quality of ingredients, resale records, insurance claims etc.
Architecture has built-in fault tolerance, disaster recovery, and cryptography technologies.
Customers can access the product portal to see the supply chain information of the product to validate the authenticity of the product.