An anti-counterfeit solution that integrates an NFC tag into a product and proves its authenticity. More so, by connecting the NFC chip with a blockchain token, the ownership of the product can be claimed by its owner and authenticated.
The most precious assets that manufacturing companies offer to their customers are the quality and authenticity of their products. Anti-counterfeit mechanisms are essential in protecting this value embedded in diverse brands.
By integrating an NFC tag into a product, a physical uncountable function is added to the product. The NFC chip has a unique DNA, which means that it is impossible to duplicate.
The NFC chip can be connected to a token on the blockchain. By using ERC721 on the Ethereum blockchain, a unique and immutable token is created and the ownership of the product is guaranteed. With IL MIO World digital wallet app, this ownership will be targetable and transferable.
Blockchain technology is a decentralized ledger system composed of information stored in blocks. Information from the products life cycle is registered in the blocks and is available to the whole community. It is public information that cannot be altered and can be verified by anyone at anytime. This ensures the authenticity of products, proves their ownership,facilitates safe transfer of ownership over time, and protects users’ privacy.
A “virtual wallet.” This wallet exists in a mobile app which gives users a convenient way to organize and interact with the items they own, such as loyalty points, boarding passes, tickets, clothing and accessories, fine wines, and blockchain tokens.
An NFC (Near Field Communication) chip is a small black object that can store the encoded data. The tag is able to detect and enable technology in close proximity without the need for an internet connection. Communication is easy, fast, and works automatically.
The Internet of Things is the interconnection via internet of computing devices embedded in everyday objects. This technology allows devices to connect and exchange data in the network.