simplyBrand to Partner with DEXON to Utilize its Underlying Technology to Fight Online Counterfeiting
simplyBrand, the world’s first online verification, anti-counterfeiting blockchain platform is partnering with DEXON to utilize its blockchain network to host the simplyBrand platform. This partnership will be a major step in a fruitful and mutually beneficial relationship between the two ventures as they seek to disrupt their respective industries.
The simplyBrand platform has a comprehensive set of tools that help in brand and IP protection. The integration of the blockchain technology is vital to the platform. The DEXON network is an extremely advanced system that seeks to be better than existing blockchain ecosystems owing to its robust designed architecture. The DEXON technology will play an important role in powering the simplyBrand platform and creating greater efficiency and opportunities for scalability. With these, simplyBrand can not only be equipped with faster and more accurate decisions from crowdsourcing to fight counterfeit listings online, but also maintain transparency for greater scrutiny and feedback from the community to improve.
In its bid to strengthen its anti-counterfeiting efforts on online platforms and to provide brands with a comprehensive, scalable and affordable solution to protect their reputations, simplyBrand is to integrate the simplyBrand platform onto the DEXON blockchain ecosystem.
While Distributed Ledger Technology (DLT) systems have great potential, they often fall short of achieving the performance requirements of modern, real world, practical applications. This is because they suffer from a multitude of limitations that are inherent to their current architecture. DEXON is a network platform that addresses and essentially solves the bottlenecks of current blockchain systems. With well-known technology like Byzantine Agreement and Verifiable Random Function (VRF), the DEXON Consensus Algorithm is highly scalable and fault tolerant.
Another important aspect of DEXON that makes it an attractive proposition is its interoperability between different blockchain systems. This is made possible by its inter-chain bridging protocol and open up the opportunity for DApp integrations across blockchain, and tapping into a wider blockchain ecosystems. This provides the potential for more exposure across different blockchain ecosystems to fight counterfeit.
All of these features make DEXON the most appropriate ecosystem for a platform like simplyBrand where scalability, high efficiency and speed are of paramount importance to stay a step ahead of an increasingly smart counterfeiting industry.
“We are extremely pleased with these developments and are excited with the prospect of partnering with DEXON. We believe that with DEXON solving the problems of low throughput, high latency and probabilistic finality, it will be an awesome technology to power a platform like simplyBrand,” said Kaufman Chang, Co-founder and CEO of simplyBrand.
Wei-Ning, Co-founder and CTO of DEXON said that he looked forward to the integration of simplyBrand platform onto DEXON. “It will be a great use case for us to see what DEXON is capable of. We have always admired what simplyBrand is developing and we believe that DEXON can provide next-gen capabilities to fulfil their DLT requirements that are so vital to their operations.”
simplyBrand’s native tokens — SBA — are being listed on the COBINHOOD exchange, after the project raised close to 20,000 ETH, in what is being called one of the most successful recent ICOs, considering the current state of the crypto market. With a firmly loyal community of enthusiasts, developers and blockchain experts backing the project, simplyBrand is confident of taking its business to the next level with its scalability strategies. And with partnerships like the one with DEXON, simplyBrand is set to transform the e-commerce industry with its cutting edge solutions that are designed to clean up online shopping and give brands their due.
About simplyBrand
simplyBrand is an inclusive ecosystem combining artificial intelligence, blockchain and crowdsourcing to eliminate counterfeit products in digital commerce. simplyBrand enables people and AI to collaborate utilizing the unique features of blockchain technology to strengthen security in online purchases.
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