How Blockchain will influence the beauty industry

The technologies are evolving by leaps and bounds, but some parts of our economic system are less prone to change than others. The beauty market is certainly one of such conservative parts with a much lower number of technological solutions available. Luckily the situation has been improving in recent years, and the emergence and development of the blockchain technologies played a major role in these changes. The Joy is constantly and closely examining the situation on the market, so we would like to analyze and predict the most probable ways in which blockchain can affect the beauty industry.

Anti-counterfeit and anti-fake solutions

Fake make-up is a real issue that isn’t really obvious and that’s why not many people are aware of it. Knock-off products can present a real hazard for your health — including, but not limited to, allergic reactions, skin rashes, eye infections, swollen lips, and chemical burns. This makes counterfeit make-up a real danger, which needs to be dealt with effectively. Customers have started to demand transparency from beauty companies and they have all the rights to do so. Almost three-quarters of surveyed want to know the exact components of their beauty products, and almost half want to be aware that these components are safe for their health. That’s where blockchain technologies come into play. It will allow checking the product authenticity from its point of origin to suppliers to supermarket shelves and end customers. Manufacturers can also add QR codes to the packages in order to check that the product is original and wasn’t replaced somewhere along the way. Such measures can save the health of multiple customers and be really beneficial for the industry as a whole.

Transparent review system

The market suffers from fake reviews on goods and services almost as much as it does from counterfeit products. Usually, there is no proof available that the high rating wasn’t obtained by buying reviews from some shady black hat parts of the internet. Amazon may be the largest marketplace around, but it can’t 100% guarantee that all of the reviews are valid. Fortunately, it’s where The Joy comes into play: all services provided and goods sold on the platform are reviewed 100% honestly and only after the transactions were complete. All transactions are carried out with the help of the blockchain. This allows an absolute trust between the providers of services and customers.

Safe payment system

No matter how secure the payments are, there is still some risk involved. How to be sure that the money you’ve spent will be transferred to the provider of the service? The Joy’s solution is to put the transfers on the blockchain — it’s safer (and cheaper!) to pay using Joycoins than fiat money. That way we can be sure that all payments are secure.

We are sure that the coming years will bring more technological solutions to the scene and customers ready to embrace them. The market is gigantic and still largely unexplored, so The Joy is among the first to grab the best slices of this cake. Follow our journey, which is aimed at making the beauty market a better, more technological place.

The Joy Website: https://thejoy.io/
The Joy Android Beta App: http://bit.ly/TheJoyBeta
The Joy Web-Version Beta: http://www.thejoy.com