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RE: VeChain - Battle Against Fake Products | RFID on Blockchain | Technical Analysis & Re-branding Update
RFID itself is not the solution to it all; the technology has been around for many years. The critical issue with it is that it is still too expensive for mass adoption in FMCG markets. Imagine you look at a product that with a price of $ 0.99 it is just not economical to stick a $ 0.15 tag on it.
For product piracy, I do see the use case, since the products will be more expensive. If only the manufacturers can enter a product into the blockchain based on the RFID ID, any user would be able to read the code and assure originality. Well unless a pirate gets his hand on the ID finds a way to adds it to the fake product.
In any way, VeChain provides a solution to a "real world" issue, which I prefer when investing into Cryptocurrencies.
@bitcoinquest I do agree that RFID becomes more expensive when it comes to single products but for the meantime what VeChain is trying to do is to use RFID to record temperature on blockchain majorly in logistics.
And yes even I find the counterfeit solution for luxury products or automobile parts is something, I am more excited about.