Fraud in food and consumer products has an extraordinary and growing dimension, estimated to represent 3.3% of world trade and with an economic impact that exceeds 500 billion dollars.
It affects both food products -wine, oil, ham-, as well as medicines, perfumes, garments, and fashion accessories …, just to mention just a few economic sectors.
In BlockTac we have developed a solution that ends this fraud: the blockchain-based Digital Seals
BlockTac Digital Seals are:
It is only necessary to have the camera of the mobile phone to read the QR of the seal and carry out the verification. In case of identifying a fraudulent product, the complaint can be presented immediately by activating a button that sends a pre-established email.
For any counterfeiter the reproduction of the seal is useless, since all the copies will be identified as false by the potential buyers. In this way, the economic incentive for fraud ends, since no copy can be sold as original.
The companies can incorporate these seals to their products, in different formats, in a simple and fast way, for a very adjusted cost, marginal with respect to the price of the products. And sure, truly competitive with any other solution!