Digmus, a unique blockchain platform for the retail industry has a straightforward goal revolving around two key concepts. The goal is to put an end to counterfeiting and the black market, which will be achieved by utilizing cryptocurrency’s underlying technology to record, authenticate, and ensure the transparent delivery of products across the globe.
By doing so, Digmus brings a sigh of relief to the consumers who don’t have to worry about being cheated by shops, especially when the purchase involves premium goods and services.
At the same time, the platform also has a lot of things in store for the producers and providers of these goods. The partnership with Digmus offers the manufacturers with a platform for secure communications and to ensure proper management of brand reputation etc., and reap maximum benefits from the manufactured products.
The problem of counterfeit products is a long-standing one, which has gained the attention of World Trade Organization on multiple occasions. However, there hasn’t been any conclusive solution for the problem until Digmus made an appearance. With the platform under development, the team behind the blockchain based anti-counterfeiting platform has embarked on a crowdsale to raise funds necessary to drive further development and adoption (marketing and promotions).
The Digmus crowdsale, presently in the Pre-ICO stage, went live recently. During the pre-sale, the platform is offering the platform’s native tokens to the participants against ETH and BTC payments. In the present stage, the platform is offering 300 tokens per ETH contribution.
With a Softcap of $500k, a $3 million goal and a $10 million hard cap, the funds raised during the ICO should be enough for the project’s realization.
How it works
To achieve the anti-counterfeiting goals, Digmus has four key solutions (the certification center):
➢ An authentication certificate center where electronic signatures are issued
➢ Second-level authenticity for storing information with blockchain technology
➢ Verification of the product with a mobile app through the NFC tag or a QR code
➢ And all along the line, the platform is integrated with Microsoft, SAP, and Oracle for compatibility with existing supply chain and POS systems.
To support the entire system, the certificate center:
➢ Checks trademark ownership
➢ Prevents duplication or copycatting of trademarks.
➢ Revokes compromised certificates for further action.
Under the Digmus protocol, the Blockchain houses the following:
➢ Signed manufacturer data – showing logo, company, and public key certificate.
➢ Signed product data – including labels, photos, videos, description, and model name.
➢ Signed units of individual products.
Why do we use the Blockchain repository instead of any other protocol?
Two fundamental concepts make blockchain the robust protocol for this product:
➢ It’s a trusted platform for both manufacturers and consumers
➢ It’s robust and enables building of the investment system used by Digmus
Use Case
An example of Digmus in action involves the purchase of perfume. Being one of the most counterfeited goods, the possibility of one buying a counterfeit premium perfume bottle is quite high. A customer searching for a particular brand and variant of perfume in a store can scan the certificate on the package using the Digmus application. If the product is genuine, then the application won’t raise any red flags, and it is safe to make the purchase.
If there is any discrepancy in the certificate information, including a mismatch in the geography, the application will point it out, and the customer can avoid making that purchase, potentially saving them from spending a lot of money on something which was probably worth a fraction of the price tag.
In addition to authenticity, whenever someone scans the certificate, the Digmus platform also ensure that the customer is eligible for manufacturer’s warranty (wherever applicable).
The Digmus platform makes sure that nobody can sell any other counterfeit product with the same information as the original.
This is a perfect system that will check counterfeiting at a global level. It will help prevent people from counterfeiting goods, help producers reap the benefits of their products, and give consumers the confidence that they are purchasing nothing but the best.
Those interested in being part of the global system can participate in the ongoing crowdsale. More information about the platform and the ongoing token sale is available on the platform’s website.
Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members. NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.
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