Engagement and security mark the future of supply chains
10 December 2018
Alexander Busarov and Yaroslav Belinskiy, Co-founders, Techrock
Counterfeiting is a global issue, yet the biggest producer and consumer of fake products remains China, despite its government’s efforts to fight counterfeit goods from propagating. The sheer size and complexity of the market makes it difficult to eliminate fake goods completely. Those hit the hardest are Chinese consumers in lower-tier cities, as they lack access to secure channels from which to purchase authentic, high-quality Western products.
Providing this access is just one of the many opportunities centred around China’s supply chain. For instance, giving consumers the ability to authenticate their product first-hand helps create more trust when shopping. This also provides an additional opportunity to engage the consumer at the point of sale and point of consumption, all the while giving them peace of mind when it comes to the products they purchase and consume.
Although there are many who try to leverage blockchain for their supply chain management in an attempt to keep out fake goods, many are still working off a false assumption that blockchain in itself can ensure the authenticity of products. Blockchain is a digital database in which the data is immutable. This, however, doesn't mean it automatically keeps out fake data. Blockchain needs to link physical products to the real world. This is what Techrock does: creating a unique identifier for physical products, and ensuring its uniqueness, while linking them to the blockchain.
In essence, we empower consumers with the ability to authenticate a product through a simple touch of the RFID/NFC label placed on each item. When consumers tap the phone against the Techrock-protected product, we create a moment of trust. Consumers verify the genuineness of the product and, at the same time, brands are given the opportunity to engage consumers in a new, exciting way.
Discover how Techrock (formerly Walimai) help fight fakes and enable better consumer engagement with technology.