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From now on, the fake products could last for a very short time. Thanks to the blockchain technology for making it possible to understand if the package you are buying is authentic, its origin, its characteristics and where it should be delivered in case it is lost or stolen. Luxury products traced as smartphones and equipped with microchips created with DLP technology (distributed ledger technology), fraud-proof. Hi to Daior, Guccio and D & C.
Now,
Luxochain, a Swiss company based in Lugano, plans to penetrate a black market that has accumulated losses of around € 83 billion in 2017 in the luxury sector.
Developing the potential of "digital passports" to unequivocally identify a high quality asset, certifying its originality, needed an initial investment of about 10 million euros to conduct research, develop the Wallet and develop an ad hoc system for the works of art while working together with a gigantic European university, according to
Christmas Consonni, Owner and Manager at Venture and Creation.
Blockchain is not a threat
One day the use of the blockchain will be extended to various sectors, since the total cost of counterfeiting worldwide should reach about $ 1.82 billion by 2020, according to the global report on counterfeiting of the 2018 brand. The "luxury" construction adopted by the company is extensive and includes the wine industry which expresses an acute interest in the blockchain technology.
Exporters are required to provide a certainty of the goods in terms of authenticity: the distance is very far from Italy to Hong Kong. Therefore, the chip fitted on the bottle cap ensures both the source of the wine plus its storage conditions, without forgetting the temperatures experienced during its transport.
Difficult times will arise for all those who depend on counterfeiting. And for companies interested in adopting blockchain technology, tolls (costs) are relatively large for hardware and concern varies in the production cycle for microchip intrusion, and the company deriving from adoption of DLT. In fact, it will be very important to provide electronic systems that track the movement of the product from the seller to the final buyer.
Read more on blockchain and the Italian cryptocurrency industry in Italian a
www.it.coinidol.com
