The counterfeit market is worldwide, rapidly expanding, economically damaging, and dangerous problem, which is in desperate need of a global solution. From luxury handbags to artwork, second-hand products, and other items often purchased online, it’s clear that anything can be copied or forged. With 7% of global total goods counterfeit and a whopping 50% of all art pieces sold as fakes, the problem affects you far beyond the purchase, and into every facet of the sale. Goods Digital Passports uses blockchain technology to instantly give you important product data, including Knowing this information eliminates any doubts from the purchasing process, which will reduce the production and sales of counterfeit goods, and help stamp out the sale of stolen items. Origin Authenticity Ownership.
The Goods Digital Passport is the start of an eco-system, which will not only look to have a significant impact on counterfeit goods but will allow consumers to understand the products they purchase. Utilizing our suite of applications, consumers will not only be able to store their products using Goods Digital Passport but also keep track of their collective value using an online wallet. It allows consumers to share their wallet, proving proof of ownership and verifying its value for insurance needs, which will help to speed up claims processes. It will help generate vital footfall into brands’ stores by allowing post registration of products from verified outlets. We also plan on offering a white label function so brands can incorporate our service directly and efficiently into their own direct-to-consumer paths. It will provide seamless insurance quotes, proof of ownership and accurate values, directly to insurance companies and comparison sites. Providing real-time price and part exchange information while enabling people to sell their products directly onto the marketplace. Once registered, manufacturers and their authorized agents can register products quickly and easily, via a secure Application Program Interface (API) or Web portal. An authorized goods producers/retailers can also register authorized agents to issue GDP’s on their behalf, either for new or existing products that have authenticated by the agent.
GDP utility ERC20 token will be distributed to investors through ICO and later can be purchased/ sold on exchange platforms. GDP token will be required by the manufacturer, agent, insurer, certifier & owner in order to update the state of the product entity in the blockchain. Once they transfer GDP token as the transaction fee, the transaction will get reflected on the blockchain. To view product information (origin, authenticity & ownership) stored on decentralized blockchain network, any utility token or ETH is not required. Anyone having the QR code can check that. And Manufacturer gains access to the web front end after registering and access grant from admin. Seller / Reseller gains access to web portal using registration or invites link by a manufacturer. The consumer can gain access to the web portal by invite sent by the seller when he purchases the good. The web portal would be secured by authentication using credential for the platform.
For each product, when a manufacturer registers the product (i.e. Watch), the system will create and deploy smart contract on ethereum network based on the fields provided by the manufacturer. This fields cannot be changed once the smart contract is deployed. Then manufacturer / authorized seller & retailers can create a product entity (i.e. Swiss Watch) in the product smart contract along with values for all related fields of the product origin. This would create a transaction on the blockchain. To add such a product, Manufacturer needs to pay a transaction fee to the platform in form of utility token. Authorised Insurer / Certifier can also update the product entity (i.e. Swiss Watch) certification details on the smart contracts using the product ID. This also requires GDP token as a transaction fee. The consumer can view this product information in the platform as well as standard ethereum network explorers like etherscan.io using QR code. It requires product ethereum smart contract address and Product ID. A consumer can buy the product and the manufacturer/seller will transfer the ownership of the product to the consumer. The system will change the product owner information in the smart contract. Seller needs to pay GDP token as a fee. The current owner can also sell it to another owner in the same way. ETH required for blockchain transaction GAS will be used from platform ethereum wallet. By keeping the smart contract logic separate for each product, it is very easy and readable for consumers to check goods origin, authenticity & ownership on public.
Consumers are throwing away 1.7 trillion US dollars a year on substandard and potentially unsafe goods. What’s more, all of that money is pouring into funding criminal organizations. Most consumers are not trying to buy counterfeit goods. But when you buy a piece of art, a phone or a watch, how do you know whether it’s genuine or a fake? How do you know if you are buying stolen goods? The problem is, you don’t really know. Consumers are aware that counterfeit products come with a risk. From poor quality products that fall apart after one use to the dangerous use of flammable or toxic materials, which pose a real threat to their own wellbeing. Sadly, consumers often remain unaware their items are fake until they attempt to resell them and discover the goods are worthless. Another devastating impact of the counterfeit goods trade is that the production process goes unchecked. Which means, no one is being held accountable for the safety of the workers, and no one is responsible for the environmental impact. Even if consumers do succeed in buying genuine products, there is a substantial risk of purchasing stolen goods. Retailers estimate that one-third of the ‘new in box’ or ‘new with tags’ listings on auction and blog websites are actually goods that were stolen through organized retail theft, or otherwise fraudulently obtained.
Brands & users can purchase a token to register goods on the blockchain. With the limited token supply, our tokens will gain value with the adoption and usage of our eco-system – and so will our ICO participants.
From high-end apparel to priceless art, there truly is no end to what thieves will attempt to steal and resell. For many crooks, stealing is a full-time job. Meaning, they are as professional as doctors and lawyers in their “field.” Goods Digital Passport is global and can be used on goods worldwide. After all, thieves often sell stolen goods overseas in an effort to stay under the radar. Not anymore. Goods Digital Passport will put an end to overseas selling as well. We already have multiple clients on board in our beta program who are seeing the endless value and benefits of GDP. Although offering a global solution, we are based in England, not the Virgin Islands. We are transparent in our work practices and are experienced professionals in the Fintech industry. Feel free to contact us at any time and follow us on social media for updates.
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By : Arlonk
My Bitcointalk Username : Jancuki
ETH Address : 0xCC028E8465c39c8B5D250431c82239dc7EE48a6d
ETH Address : 0xCC028E8465c39c8B5D250431c82239dc7EE48a6d
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