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Seal – the best way for anyone to check if a product is genuine or fake

Seal is the best way for anyone to check if a product is genuine or fake. Seal combines NFC chips, which are embedded into physical products, the Seal app, and the Seal Network to provide a fast, simple, and secure way to provide products authenticity and other services.
By facilitating a secure tokenized version of a physical product, Seal allows product-specific services to operate such as transferring ownership, theft prevention, insurance, but also brand activation campaigns and product analytics. Seal lets brands earn money every time their products change owners. For the first time in history, brands can earn money from items sold through the secondhand trade, while simultaneously protecting their markets from counterfeiters. Using the power of the blockchain, authenticity can be checked and ownership can be transferred decades from now, even if the product itself is discontinued, as long as people contribute to the decentralized Seal network. Seal wants to bring back confidence to consumers and allow for brands to interact with their most heavily vested customers in the most direct way the internet has ever seen. Together, they build a better world in which consumers appreciate the creative work of makers and stop feeding the counterfeit economy.

SCOPE OF THE PROBLEM

Secondhand market
The secondhand market is extremely sensitive to corruption and very low in consumer trust. Many products lose value in the secondhand market, but the products that Seal targets typically act as value stores. The integrity of the secondhand market dictates whether or not the brand can sell products at a price premium. Customers will churn en masse once trust in the authenticity of products in the secondhand market is jeopardized, because collectibility is drastically reduced when counterfeiters pollute the market. In other words, when counterfeits flood the market, consumers will no longer feel safe purchasing those products. They will not just stop buying, but exit the market altogether (for instance by selling off their collection).

The secondhand market is the place where value stores form a lucrative trade, such as in the case of collectibles, comics, vinyl, wines, sneakers, designer clothes, leather goods and other vintage or limited edition products. These categories are prime targets for counterfeiters, thus the demand for authenticity is highest here. The secondhand market is the biggest market in size, since the market size is the sum of all products ever sold, not just the ones that are for sale right now, yet data on the secondhand market is lacking because there is simply no way for brands to capture that data properly. Since these markets behave autonomously, beyond the control of the brands, the brands are unable to interact with this market. The result is that brands cannot monetize the secondhand market even though this is where most of the money from products with collectible value is made. Brands only profit at the initial point-of-sale, not on after sale transactions.

CURRENT SOLUTIONS

Today, many anti-counterfeiting methods exist. Some of these include watermarks, security threads, invisible ultra-violet inks, color-shifting inks, holograms, product numbering, fluorescent fiber, Moiré patterns, micro-print and many others. Anti-counterfeiting is an endless cat- and-mouse game between counterfeiters and security specialists. Inevitably, all offline authentication methods become compromised, as long as a sufficiently large financial motive exists. The aforementioned methods vary in sophistication. One problem is that specialized training is often required to appraise whether or not the more sophisticated anti-counterfeiting methods are violated. Consumers are still victims because they do not have the knowledge to distinguish genuine products from fakes.

SOLVING THE PROBLEM

RESTORE MARKET INTEGRITY
The secondhand market suffers most from counterfeiting because value stores are lucrative counterfeit targets, the size of the market is enormous and it is both easy and low risk to scam regular people. Seal solves this by completely removing ambiguity out of the equation. Not only is checking authenticity foolproof, brands can finally monetize the secondhand market for the very first time in history. This is a major milestone, since many of the world’s value stores have product lifecycles well over 25 years. As the product ages, the value increases and the demand increases. The effect is that products will change hands countless times over the course of its lifecycle, making money for brands along the way. The Seal Network blockchain is what allows the service to operate for such a long time, even though normally brands may go bankrupt or get acquired, technology gets abandoned or products are discontinued. As long as people dedicate nodes to the network, the system will work.


For more information ,visit the Website or read the Whitepaper.

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