Counterfeits have been a thorn in the fashion industry’s toe since its very inception, and now, the thorn has become a nail. In 2019, the global counterfeit market was valued at 464 billion dollars. It grew even larger after the pandemic hit. Many people began stress-buying while they were told to stay home, and as online purchases of luxury items increased, so too did purchases of their counterfeits.
The process itself is simple enough to understand. The new product is “recorded on the shared ledger, irreproducible and containing unique information. At the time of purchase, a consumer can use the brand’s application to receive the AURA certificate containing all product information.” For customs officials, RFID tags were a godsend. Thousands of designer items arrive from other countries every day, and to have a quick-and-easy method of counterfeit identification made their jobs significantly faster and easier.
Entrupy, a similar, but a more publicly-accessible product, is a portable scanning device that takes microscopic pictures to ascertain material, workmanship, serial number, and wear/tear. After collecting this data, the images are cross-referenced with a database and, throughIf you’re building a brand without IP protection, you’re setting yourself up for failure.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: hackernoon - 🏆 532. / 51 Read more »