Origin will tackle the global counterfeiting market through their tokenization blockchain ecosystem

According to the OECD, the global counterfeit market has a staggering value of $590bn. Counterfeit products have always been a major issue for consumers and particularly luxury brand purchasers as high-end products remain among the favorites of forgers looking to capitalize on a highly unethical source of revenue.

Not only that, but there is always a market for counterfeit goods, which was cited as one of the primary issues as there continue to be a variety of platforms that help connect users and buyers.

Counterfeits harm consumers while also simultaneously wreaking havoc on a brand’s reputation as brand image and trust are some of the most important metrics when it comes to consumerism.

With the lack of an end-user database record, this makes it impossible to verify the authenticity of luxury and other expensive assets that consumers often go through major lengths to purchase. Origin has come up with the very first decentralized authentication and tokenization ecosystem to provide a way to allow anyone to confirm a product’s history to take a stand against the massive counterfeit market.

Experiences give birth to an innovative vision

Origin CEO Mike Chay also owns a luxury watch e-commerce retailer BODYING WATCH COMPANY which offers over 2 million luxury brand watches through online presences in 14 countries. It was these 20 years of experience as an established watch retailer that led them to realize one of the most predominant issues plaguing the market: a lack of proof of product authentication services on behalf of potential buyers.

Origin will capitalize on the advantages provided by blockchain technology through the provision of their proprietary product tracking labels. Through the immutable ledgers, all product information such as product details as well as maintenance and ownership history can be stored and viewed in Origin’s highly secure database.

This will enable consumers to access essential authenticity related information throughout all supply chains from manufacturing, storage, and distribution to guarantee that all the luxury goods they purchase are legitimate.

QR codes hold the key ingredients of digital assets

A multi-tier verification process plays a pivotal role in establishing the validity of any related products in question. This novel solution is maintained by Tier 1 and Tier 2 users who upload critical product information to the database in the form of digital assets. All the related information will be assigned a unique QR code that can be used to access all stored information of the digital asset including authentication history.

These QR codes are impossible to forge and the Origin app provides a secondary level of authenticity verification. This will enable the Origin app to essentially serve as a forgery scanner that can be used on the go for all consumer purchases, allowing anyone to complete their purchases with full confidence and full transparency in regards to ownership and authenticity history.

Origin will hold their IEO May 7 so this is a great chance to get invested in a unique offering which aims to completely erode the counterfeiting market once and for all: https://www.probit.com/en-us/ieo/origin-round1/0