I love shopping and even though I usually don’t opt for expensive brands, every now or then something really stands out. However, before popping out so much money, I try to check that the purchase I am making is genuine. The reason is that I know counterfeiters bring in tens of billions of dollars every year and that means sometimes products that we think are genuine can actually be counterfeits. What’s worse is that for the longest of time, there hadn’t been any simple or convenient means of verifying this. Now, Seal Network is about to change this.

Seal Network Changes the Trade

Seal Network is going to make the idea of being able to verify any product for authenticity into an everyday reality. Seal Network utilizes various technologies to make this possible.First, brands place a scannable chip on their products and these products are then distributed out to retailers. With the chips in place, any person can simply download the Seal Network app and then scan the chips to see if the product is authentic. While the user experience is so simple and easy, the back-end involves complex technology. All the data is being securely stored on the blockchain. This makes it extremely easy for brands to record the authenticity of products and for users to verify products, but virtually impossible for a counterfeiter to make chips that can bypass the scan.The result of this is that consumers can securely buy the brands they love without fear of being duped into buying a fake. This helps brands protect their public image as low-quality fakes cannot scam consumers, and Seal Network also helps brands recover the billions of dollars they lose when consumers intended to buy the authentic product but are tricked into buying a fake.Seal Network is also a great product for the consumers since it protects them from being scammed by counterfeiters. Now, when a person buys a branded product, he or she can rest assured that the product is genuine and that the quality is going to be as one would expect from his or her favorite brand. 

 

Secondary Market

Seal Network product is extremely consumer-centric since it will be protecting consumers through another way. Since some brands can be extremely expensive, they have a huge secondary market. Websites like eBay have thousands of listings of second-hand branded products but often these can be fake. Till now, there were limited to no ways of verifying whether the second hand sale included a genuine product, but Seal Network brings a convenient solution.When an item is bought from a retailer, it’s recorded on the app as sold. Moreover, if a person wants, they can even connect their identity to the product as a seal of ownership. This way, any one selling a second-hand product will have the ability to show that they are the actual owner of the product and then the person will be able to properly pass on ownership to any new buyer.Seal Network also helps brands with this additional feature. Brands will be able to get a small portion of the sale value of secondary products. This way, brands are able to get some money from the huge secondary market and consumers are able to securely buy second-hand branded products.

Want More Information?

Website: https://seal.network/
Whitepaper: http://bitcointalk.org/index.php?topic=2929809.0
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