In the wake of discovering adverse skin reactions to counterfeit hair, make up and cosmetic products ordered online, e- commerce has been facing increasing pressure to implement secure blockchain technology for serialisation of products that would help us, the consumers, know exactly what is we are letting into our homes.
People have cited rashes, dermatitis, and eye infections from counterfeit products due to the untraceability of place of origin and legitimacy of brands marketed as originals on e-marketplaces.
Through tracking every single product from leaving the factory through being transported across seas, driven cross-country and sent to a distribution centres to then finally arrive at customers’ doorsteps – we generate valuable data that can prevent counterfeit products from entering customer’s life. A secured blockchain verification system built on that data pool can serve as much-needed assurance for consumers on the safety and legitimacy of their orders.
As a result, it is unsurprising that research conducted by Gartner forecasts the business value-add of the blockchain technology to grow to more than $176 billion by the year 2025, and then to $3.1 trillion by the year 2030.
If you are interested in learning more about Trackster’s blockchain solutions, do not hesitate to get in touch with us.