What’s up everybody WAJAHAT is here with another exciting blog on Seal Network. Today’s world is full of brands. It becomes the mind set of people that by wearing brand or everything you used is of brand shows you rich. Brands show your lifestyle because brand products are of good quality product so they are expensive and only affordable by the rich people. In the meantime, some manufacturers copied the brand items and sell the products on the behalf of the brand names. The people who don’t know much about the brands, they purchase from them and in return get the poor quality product results in spoil the name of brand. All the creativity, design, idea behind the creation of brand is due to those brand creators who by putting all of their efforts, exemplify their blood, sweat and tears into idea that represent our culture and give us a cheerful feeling. So it’s a need to stand up for these creators and brands and protect them from the fraudulent behaviour and protect their names.
Advancement in technology resolves most of our issues and daily life problems which we never think about that they could be resolved. Seal comes up with the solution to distinguish between the real and fake product. Seal unite with NFC chips which will be fix into physical product. Seal app and the seal network also uses these chips to protect the products by confirming its authenticity through the secure and the quick way. Seals operate on blockchain and makes it easy by producing the tokenized version of physical product and will allow the transferring ownership by the services of the specific product and takes step to prevent the theft and promote the brand through brand activation campaigns. This will also benefits the brand as they could earn while the product change owner. This happens first time when the sold items generate money and they will be distinguished from the fake products who copied them. This all is going to happen due to the blockchain which ensure the originality of the product. In this way, seals provide the confidence back to consumer and help to build a better industry where the consumers buy without any fear of fraud.
The counterfeit problem is worldwide which reach the EU and US in terms of hundreds of millions of dollars. Globally 85 % of counterfeiting arise from the Asia while the China has the 20% fake products from the total production of goods. A big hand of midnight shifting is involved in the counterfeiting. It is happen by the assistance of the authorized person of the manufacturing partners who produce the licenced product during day and unlicensed during night. These unlicensed products are sold in the black market. These are the original products but not produced legally hence theft by the manufacturers. The manufacturing partners are trusted by the brand so aware of their trade secrets and the ideas involving in the manufacturing of the products. By using these ideas illegally, they broke the trust and it’s against the trading rules.
Website link:
https://seal.network/ico.html
Whitepaper link:
https://seal.network/seal-whitepaper.pdf