Counterfeit and pirated goods are major threats to the innovation-driven global economy.
OECD reports1 show that the trade in counterfeit and pirated goods is a major threat to the innovation-driven global economy. Piracy has major negative effects on the sales and profit of affected firms, and it also adversely affects the revenue, finances, health, safety, and security of other business and consumers. Organized criminal groups are playing an increasingly important role in these activities; they are benefiting significantly from profitable counterfeiting and piracy operations that are expected to reach a value of $2.8 trillion by 2022.
How you benefit
Elimination of fraud
Give customers the power to authenticate their products
Increase control and create efficiencies across supply chains
Create proof of provenance and authenticity of products at every step of the supply chain
iDefendo is part of the International Trademark Association’s Anticounterfeiting Committee, which is working to develop and advocate for related anti-counterfeiting policies and to promote better cooperation between the private and public sectors in efforts to advance protection against counterfeiting.
Our anti-counterfeit and traceability solution, DigiTrail, is based on blockchain technology. It creates a trace trail that provides trustworthy origin data to customers and stakeholders, generating opportunities for significant financial and competitive advantages. The transparency offered by DigiTrail gives brand owners highly effective tools for combating counterfeit goods and detecting unethical suppliers. By giving customers indisputable proof of the provenance and authenticity of products, DigiTrail strengthens customer trust, increases product margins, and improves brand equity.
DigiTrail creates major opportunities for companies to increase profits. When a DigiTrail is applied to an authentic product and a blockchain ledger, the origin and chain of custody makes the product instantly traceable. This enables process improvements within the company and offers better visibility throughout the supply chain, from manufacture to the end consumer. Every step can be traced, upstream and downstream, which increases control, improves predictability, and gives all stakeholders the information they need. And it helps companies avoid costly and reputation-damaging mass product recalls.
DigiTrail records all events related to the manufacture/transport/ownership transfer of a physical or intellectual good, making logged information independently verifiable. The transparency and immutability of the recorded transactions visualizes the exact point of diversion of authentic products from an authorized distribution network, dramatically increasing the transparency and responsiveness of the business.
An analysis by Boston Consulting Group (BCG) and Cisco Systems shows that the net financial benefits of using blockchain solutions can range from 2% to 5% of revenue and reduce the number of fraudulent sales by 60% to 80%.
Source: Boston Consulting Group www.bcg.com/publications/2018/blockchain-internet-of-things-made-for-each-other.aspx
Reports from INTA shows that by 2022, the value of counterfeit goods could reach $2.8 Trillion
Source: INTA, The Economic Impacts of Counterfeiting and Piracy
Attaching DigiTrail to your products makes them uniquely identifiable throughout the blockchain. You can provide your customers with indisputable proof of the provenance and authenticity of their products. In addition, DigiTrail enables process improvements, increased control, and visibility throughout the entire supply chain.
Source: Peter Jidesten, CEO iDefendo