Blockchain: can cryptocurrency revolutionize brand protection? [report]
Linking physical products to blockchain ensuring they are authentic, safe and connected
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Ensuring blockchain functions as a product & brand protection solution
Systech has been working to ensure that the technology of blockchain contains every essential component required for brand protection, and can act as an effective supply chain protection solution. They pride themselves on the uniqueness of their digital identities, and this distinctiveness is their key to safely linking authentic products to blockchain. This report will also examine how the weakest point in the blockchain process – that of barcodes as the link between physical and digital – can undermine blockchain’s benefits.
As a brand protection specialist, Systech has identified the drive to build 'mousetrap' technologies as a method of brand protection – and are addressing blockchain as the latest, and best, frontrunner in this field. With billions of dollars of investment in these technologies, the lack of significant change in incident rate and the burgeoning grey market means that the need for an effective solution is stronger than ever. If you have a brilliant product, then there will be a counterfeiter working to profit from it.
Promoting blockchain as a supply chain protector
Blockchain has a major system of warranties in place, and is part of a trusted chain of possession. It is a known ownership and all of its capabilities have evolved from a necessity to facilitate cryptocurrency. This digitally-created exchange system utilizes advanced encryption to control the formation of units of currency, verifying every ownership and every exchange. This ensures that all those transacting via the network have private keys to their money, whilst keeping the peer-to-peer network open and transparent. Crucially, this system provides consensus among all chain participants.
Cryptocurrency may not be in everyone’s viewfinder as a physical product brand protection solution. However, as discussed in the report, the process by which cryptocurrencies are established, assured, and time-stamped has a strong equivalence with supply chain requirements. It can empower transactions on the very largest scale, beyond borders, currencies, and across the globe.
Blockchain and the interface between digital and physical
How to employ technology to smooth the difficult transition between the purely digital and physical products has been a major industry concern for decades – be it special reader devices or update blocks at more frequent intervals along the chain. Barcodes are the most common, and fraught with the most issues. They are easily replicable, and thus any blockchain solution involving barcodes undermines the trust that businesses can put in the system.
Blockchain, barcodes, and beating the problem with UniSecure
Systech has developed a blockchain-enabled brand protection solution that brings barcodes into the future; creating cutting-edge brand protection from risky identifiers. With UniSecure, Systech have created a system for leveraging micro-variances, and creating truly unique digital signatures. The rate of replication in the gray market would be reduced to an almost negligible degree.
To find out how Systech has achieved this, please download the report.