Seal Network ICO: Putting an End to Counterfeiting

cubanlinx81 (26)in #ico • 6 years ago

Would you pay $3000USD for a pair of Nike sneakers? The price seems unbelievable, but that is actually how much Nike’s T23 (Tokyo Exclusive) were selling for on the aftermarket. Sneaker-heads (as these purchasers of exclusive Nike’s are call) have to be very savvy at recognizing authentic items from the ever increasing well made counterfeits on the market before making such an investment. Not only sneakerheads, but all consumer need to take an extra measure of caution when shopping due to the growth of sophisticated counterfeits on the market. Unfortunately, the attempts at solving this issue have not been effective, due to the industrious efforts of counterfeiters to keep pace with anti-counterfeiting measures. This is why Seal Networks anti-counterfeiting protocol is the last, best option to fight counterfeiting.

Due to rampant counterfeiting, brands are cheated out of $100’s of millions of dollars each year. These losses are not exclusive to unauthorized reproduction of merchandise, but also from subcontracted manufactures running unauthorized overruns of goods to be sold on the black market; a practice known as “midnight shifts”. The problems does not solely exist in the manufacturing sector. Quite often goods meant for/and to be sold in prespecified geographic areas are diverted to different regions and resold at a discount. This is a problem, because goods are priced based on the economic conditions of each respective region; and when goods meant for one region are sold in another, the brands incur losses from discounted merchandise undercutting the retail prices in the area. The current solutions inplace to address these problems are ineffective; which leads to these losses that brands incur being factored into retail prices to offset losses. However, a new era in copyright protection is being ushered in by Seal Network.

Seal is an innovative anti-counterfeiting solution on the Ethereum blockchain which allows customers to verify whether the product they are purchasing is authentic. Customers will be able to verify the product via a smartphone app that will confirm authenticity connecting to unique individual identifiers uploaded to the Seal Network on the Ethereum blockchain by the product’s manufacturer. By using top grade NFC identifier microchips, Seal customer will feel secure knowing that the data associated with their purchase can not be copied or altered; as with other systems being developed today. NFC chips are a dynamic environment that are able to change “states” each time an authorized user interacts with it; updating the data, so that replication is impossible. Most options in used today are holograms, watermarks, special fibers woven into material, and RFID chips; all which can be manipulated to produce false positives. Therefore, Seal’s verification network using dynamic NFC chips makes it the most secure and reliable method for validating a products authenticity.

The characteristic of the NFC chip also supports reselling of goods; as the unique identification information in the chip can be updated to register the information of the new owner. When ownership is transferred to another, the Seal Network’s native token comes into use; validating the new users information at a cost of Seal tokens. In addition, when ownership is transferred, the Seal platform shares a percentage of the token transfer with the brand manufacture; in a first ever opportunity for the band to profit from the resale of its goods. This is a breakthrough for all parties and well as a major blow to the counterfeiting industry.

Seal is preparing to launch its’ pre-ico and the demand is very high. If you’re interested in being a part of a winning solution that will help put a stop to the multi-million dollar counterfeiting industry that adversely affect us all, please read up on the details of the Seal Network platform in the following links: