Making Sure Luxury Products Sold are Genuine
Mi123 last edited by Mi123
One only needs to take a quick jaunt into Chow Kit Road to see how widespread the issue of counterfeiting branded luxury goods are in Malaysia. Besides just bags and watches, even flagship smartphones can be replaced with a fake before it reaches the hands of the consumer.
This is what LuxTag aims to solve, by creating a blockchain that keeps an immutable ledger of real luxury products that are registered in its system.
As it happens, LuxTag runs on the NEM blockchain.
LuxTag approaches the supply chain at the manufacturer level, where each product is certified on the NEM blockchain and more easily verified by the consumers before purchase.