How does it work? 🔎
At the simplest level, when a person scans a product and it can be verified by secure blockchain.
Brands can charge a variable fee depending on the product and added services and functions the chip provides. This helps fight counterfeiting and the consumer gets to support the designers and brands they love. On the secondary market, it will be easier to sell your product at a higher price because other people can validate the authenticity. One can also claim an individual product as theirs. There will be a small fee for change of ownership and claiming. So brands can still make a very small cut on the secondary sale of an item and the seller can likely get a better price. Seal also cuts a very small cut of this fee which benefits token holders as a small percent of tokens are burnt with every transaction.
Brands can create their own front end app or use seals native user interface. The app has unlimited applications but the blockchain can only store limited data. Seal already have a working application that can be used for basic functions.
ERC20 vs. ERC223
Seal is built on the ERC20 token standard. ERC223 token standard has technical advantages compared to ERC20. Specifically, ERC223 eliminates the problem of lost tokens which happens during the transfer of ERC20 tokens to a contract (when people mistakenly use the instructions for sending tokens to a wallet). Users can send their tokens to wallet or contract with the same function transfer with ERC223. Through that it overcomes the possibility for misperception and lost tokens. Unfortunately, ERC223 lacks sufficient third-party support. Seal has equipped with ERC20 token standard in order to ensure widespread adoption of Seal and be compatible with exchanges. If, in the future, third-party support for ERC223 improves, Seal may migrate to the ERC223 standard.
TOKEN UTILITY
Utility
Seal Tokens are used to pay for services by consumers and brands. The number of supported services will increase as we improve the platform. The current version of the app already provides authenticity checks and ownership registration. In the future brands might be able to pay customers for certain activities (e.g. via a loyalty system).
Currency of Authenticity
The ultimate goal for Seal is to become the currency of authenticity, a currency optimized for the exchange of consumer products acting as a medium of exchange. As this does not require additional fees, it is not listed as a service. If used in this manner, the Seal Tokens can be used as a currency to pay for products directly. Both buyer and seller get a guaranteed exchange of goods by using Seal to pay for products. There is no way to tell with certainty whether (a) the product is genuine and (b) physical money / banknotes are not counterfeited with regular fiat money transactions. The Seal token acts as a currency that is enhanced for transacting consumer goods.
Decentralized Apps for Brands
Seal will help brands set up their own decentralized apps for their products on the Seal Network. To interact with these decentralized brand apps, Seal Tokens can be used.
Token Details
💎 Total​ ​token​ ​supply: 1,200, 000, 000
💎 Token​ ​Type: SEAL
💎 Token Price: 1 SEAL = 0.08 USD
Token​ ​Distribution
💎 41% Token sale
💎 13% Team and advisors
💎 7% Influence
💎 22% Future operations
💎 17% Future R&D
Crowd funding​ ​Usage
💎 6% Initial startup
💎 17% Marketing
💎 28% Business development
💎 18% Operations
💎 23% Engineering
💎 8% Legal
Please contact Seal Network Team for more details through following links:
📩 Seal Network Website
📩 Seal Network WhitePaper
📩 Seal Network Telegram
📩 Seal Network Ann Thread
AUTHOR
Name : Ishani Lakshika
BitCoinTalk Profile : https://bitcointalk.org/index.php?action=profile;u=1371381