Dubai, UAE – “The Verify App,” a blockchain based anti-counterfeiting app, is aiming to change the way brands and consumers can ensure they are buying genuine products, with a simple yet secure solution.
The Verify App, with the same interface, can be used by consumers, retailers, and commercial /industrial users alike, it ensures trust, authenticity and trackability using the power of blockchain, holding marketplaces accountable.
The Verify App has signed up Ezeenah, a leading e-commerce store that caters to the beauty conscious consumers of the Arab world, and will implement smart stickers into their products to confirm product authenticity and fight against online counterfeiters.
How it works
Each physical product is linked to a smart sticker which has a unique identifier that is stored on the blockchain, along with all the product’s details. Using NFC technology (similar to Apple Pay and Samsung Pay), once a product has been tapped, the product picture and information is displayed in the app. The customer can visually verify that the product is the same original product as displayed in the app.
Once a scan is done, the time and location of the scan is also stored on the blockchain providing a tracking history for each individual product. “Blockchain is a term everyone likes to use but very few people really understand the full benefits of the technology. By using blockchain technology, our solution is trustworthy as the data is immutable, cryptographically signed, times tamped and publicly accessible. The system prevent fraud as no entity, including The Verify App, is able to alter/remove a committed data. Unlike centralized databases which are totally opaque, blockchain offers total transparency. Each insertion is timestamped and signed using cryptographic signature, a highly secure digital stamp that can’t be reproduced and used to certify the information” says Lmehdi Ouabi, senior Blockchain Developer at The Verify App. Large warehouses, containers, pallets could be scanned within minutes for bulk shipments of products,” he says.
Globally, counterfeiting is a massive problem, costing lives, jobs and over $1.2 trillion annually. In particular the e-commerce industry has been battling the growing counterfeit problem for a number of years. Jack Ma, CEO and founder of Alibaba, has stated that counterfeits goods are the “cancer” of Alibaba. Consumers are also demanding action against the menace of fake products in online marketplaces. Studies have shown that one out of every five products sold on e-commerce platforms are fake.
“It is imperative for e-commerce platforms to clean up their platform and earn the trust of their customers,” says Rehan Hassan, CEO and founder of The Verify App. “By implementing our solution, marketplaces are empowering their customers to verify for themselves that the product they received is genuine. By simply scanning the product through our app (available for free on the App Store and Play Store), not only does the consumer verify the authenticity but also learns more about the product. The solution will become more effective as upstream value chain partners including packaging companies and brands become ever more conscious of PR risks associated with being counterfeited. In the age of shortening brand life cycles, it is important for brands to enable consumers to Verify and authenticate their purchases instantly”.
The Verify App also gives businesses the opportunity to market and engage with the consumers in a way not done before. By using the user’s social media profile when they registered on the app and their location when they scan, the app can deliver content in a specific manner. Using algorithms, the app is even more intelligent, so a female teenager in California would see a different message than a 40-year-old mother in Paris.
Company Name: THE VERIFY APP
Contact Person: KHURRAM ABDULLA
Email: Send Email
Phone: +971 4 349 3536
Country: United Arab Emirates