simplyBrand – Because every purchase matters

simplyBrand – Because every purchase matters

Research has shown that counterfeits pose a great threat to individuals, companies, industries and even world governments. With the technological advancement of the internet, the negative effects of counterfeiting have now been magnified and are causing a larger scale of damage. Most brands choose to invest a large amount of money into implementing NFC or RFID technologies into their products, but the results are still limited and the costs are still high.

We will create a solution to this problem by establishing a platform with a built-in AI model and machine learning technology to identify counterfeits. Crowd-sourced participants will be incentivized to assist in verifying the unidentifiable items, while the information of the counterfeiters will be published on the blockchain, which is immutable and public for everybody to read. In addition, two major functions will be released along the way which will result in more parties joining the platform to complete the goal of the platform evolving into a self-governed ecosystem. By combining these cutting-edge technologies with new mechanisms to govern the platform by itself, our solution is able to solve this problem effectively on a large scale.

Global E-commerce Market

Increasingly, consumer purchasing habits are shifting towards making purchases on E-commerce platforms, with eMarketer estimating such purchases will double over the next several years and reach 12% of all global trade by 2019. Compare this to Connected Commerce report which has revealed that in 2016, 57% of consumers worldwide purchased a product online from outside of their country of origin and it begins to paint a picture of an ever-growing global E-commerce landscape.

The Cost of Counterfeiting

The victims of counterfeiting aren’t limited to developing countries and markets, but span every corner of the globe. The US Government Accountability Office estimates that in 2018, 79% of US consumers purchased products online, while the New York Times states that over a third of such consumers had unknowingly purchased counterfeit goods from major platforms, such as Amazon and eBay. The product category of counterfeit goods isn’t just limited to clothing or electronics, it includes everything imaginable such as cosmetics, pharmaceuticals and even food.

Such counterfeits that we are directly ingesting or applying to our bodies can cause serious harm and even death. In 2015, The City of London Police issued a warning to citizens against buying suspiciously priced cosmetics, especially from China. In 2016 Interpol took down over 3,500 websites selling counterfeit and illicit pharmaceuticals; these counterfeit pharmaceuticals are estimated by the UN to account for 700,000 deaths worldwide per year.

The counterfeit products market has grown rapidly in recent years with the expansion of E-commerce and compounded with the increased use in mobile devices resulting in 7% of world trade being counterfeit products; purchasing goods online is becoming easier than ever, so counterfeiters are able to penetrate multiple global markets. Despite the fact that counterfeiting poses significant threats to individuals, brands, insurers and governments, effective methods have not been undertaken to tackle this issue. As consumers and brands have continued to suffer from counterfeiters, simplyBrand has developed the perfect solution to stop counterfeiting in global E-commerce for good.

simplyBrand solution

In today’s increasingly technological world, E-commerce is becoming more influential to people’s lives, which is also creating new and expanding avenues for counterfeiters to exploit. These counterfeiters exist everywhere and have permeated E-commerce channels all over the world, creating an unprecedented flow of counterfeit products. Counterfeits are low quality and dangerous, which is why simplyBrand is presenting a new way to improve global E-commerce that will benefit everyone from major brands to individual consumers.

The simplyBrand platform will combine AI, human ingenuity and blockchain technology which will be used to create an immutable “blacklist” of counterfeit product vendors available for the world to see, while the tokens within the blockchain will incentivize crowdsourced participants to utilize the simplyBrand platform.

The simplyBrand platform for cleaning up E-commerce will follow 3 stages:

 

Token Design

The user can earn rewards by participating in activities on the platform. There are:

  • Verification Rewards – When platform users participate in counterfeit verification activities, they will receive tokens in accordance with the accuracy rate from verifying a set of product information.
  • Rewards from reporting URLs – When a user sees a certain online store selling counterfeit products, they can report the URL of the page selling counterfeits to our platform. They will only receive token rewards if the URL is verified to be selling fake products.
  • Rewards of reporting fake goods received from online stores – When a user places an order online and ends up receiving a fake product, they can report it back to our platform with the photo of the product and also the invoice of purchasing the product. Once the information is verified, they will be rewarded with 10 tokens.
  • Rewards for taking down an URL – Enforcement agencies will take the URLs from our platform and report them back to the E-commerce platform. Once the URLs have been taken down by the E-commerce platform, enforcement agencies can receive rewards by reporting the result back to our platform, and receiving confirmation of the result by the platform. (Base points: 10 tokens for taking down 1 URL)

Mining Mechanism – At the beginning of the platform establishment, in order to incentivize more individuals to join the platform and participate in our anti-counterfeiting activities, the platform will prepare 13.5% of the total token supply for early users to mine

 

Token Flow

Our platform is tokenized in order to facilitate the establishment and operation of the whole ecosystem.

  • Crowdsourced participants can receive tokens as rewards, and can either use them to purchase brand privileged items on our platform or sell them on exchanges
  • Enforcement agencies can receive tokens as rewards, and can sell them on exchanges
  • Brands can buy tokens from exchanges, and purchase brand-protection services on our platform
  • Third-party service providers can buy tokens from exchanges, and purchase information on our platform

Roadmap

 

Team

Personal evaluation

Personally, I see simplyBrand as a very strong and promising project. Through the main strengths I would mention:

  • Diversity and experience inside the team: Its members worked in various domains and share a huge knowledge.
  • Roadmap: The project consists a lot of ambitious milestones scheduled until 2020.
  • Good Rewarding Mechanism (+ mining)
  • Brands will directly benefit from the simplyBrand platform by having counterfeit versions of their products quickly identified, verified and removed, helping them to maintain a positive brand image and regain their market share.
  • Crowdsourced Participants: The participants in this system will be the people supporting the verification process; people who are likely fans of specific brands and products, or those who simply wish to make some pocket money.
  • Enforcement agencies: By joining the ecosystem and working within the platform, they will have access to a large amount of counterfeit product info instead of having to find it manually, allowing them to increase their earning potential and prove their effectiveness to brands and potential new clients.

 

For more details visit:

Official Website: https://simplybrand.io/en/

Telegram general group: https://t.me/simplybrand

Telegram announcement group: https://t.me/simplybrandio

Official Twitter page: https://twitter.com/simplyBrand_io

Official Medium thread: https://medium.com/simplybrand

 

Proof of ownership: (to be used for “Blog and Media Publications Bounty” reasons)

Registered e-mail: chilatmarius@gmail.com

TelegramID: @MariusChilat

 

 

 

 


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