Coin Review! DEVERY!

Devery (EVE) is an authentication platform built on the Ethereum blockchain. The purpose of this platform is to allow for both consumers and manufacturers to verify the authenticity of physical goods. Their service allows for goods to be tracked from the manufacturer all the way to the retail outlet where they are purchased by consumers. This allows for buyers to confirm that they are in fact getting genuine products for their hard earned money.

This platform will work by providing a unique identifier code to every product that is created. Those codes are then recorded in an immutable way by using the transparency of the blockchain. Anyone will then be able to verify these codes by using the Devery mobile app, and it will be required to scan this code at every step of the manufacturing and delivery process to ensure supply chain integrity. The EVE token will be the method of payment which manufacturers will use in order to pay for the registration of their goods.

The estimated value of counterfeit goods is estimated to rob consumers and businesses of around $650 billion dollars each year globally. Fraudulent enterprises counterfeit everything from designer clothing and shoes to pharmaceuticals, the later of which causes the deaths of over a million people every year. Unfortunately, it’s hard to track where exactly these products come from, and it’s easy to slip fraudulent ones into the mix somewhere down the line. The counterfeit industry is typically high reward and low risk, which makes it a prime target for fraudsters looking to make a fast buck.

Who exactly can benefit from a blockchain supply chain solution though? It’s not just designer goods manufacturers, Devery is working with the United Nations World Food Program to ensure the integrity of food deliveries to school children in South Africa. This is an excellent example of how the blockchain can provide solutions for services where low overhead and efficiency is a must. It’s also a very large partnership for a blockchain company, which that they should be proud of.

It’s likely that in the future, trustless systems such as this will be the norm. Not only to be used to protect consumers from fraudulent and potentially dangerous goods, but also to protect businesses from millions of dollars in lost revenue to counterfeiters. Counterfeit goods are an enormous market, and the only real way to put a stop to it is to simply make it as difficult as possible to get people to pay for these goods. For that reason, a solution such as this, which gives the power to the consumer to reject counterfeit wares is likely the most viable solution in weeding out the supply line. While Devery does have some competition in this particular sector, they also have a great head start, and have already made several excellent partnerships for themselves. Overall I think Devery is an amazing project with an amazing future.