simplyBrand: Lending Much Needed Integrity to the E-Commerce World

We are experiencing a digital economy, one ruled e-commerce. Technological advancements have made our lives easier and it was a matter of time before we were served products and services on a platter. More specifically, at the click of a button. The rise, and eventual popularization, of online shopping, was an obvious evolution. 2018 has seen rapid growth in the number of internet users — 4.021 billion to be precise. With the increase in the number of people who have access to the internet, the number of consumers who are turning to e-commerce has also increased.

The simple theory of demand suggests that a decrease in the price of a product increases the demand for it. Counterfeiting is exploiting this principle to sell lower quality artificial products at a cheaper rate. Without the presence of an acute measure for the prevention of counterfeiting, it has increased manifold in the global market — totally inundating it — creating difficulties for both, the consumers and the brands.

In 2017, the online counterfeit market was estimated to be worth a whopping USD 323 billion, out of which 80% of counterfeits originated from China. The most counterfetited products include food, toys and tobacco. This is sure to ring serious alarm bells because with food being faked, it can create a health epidemic that we haven’t experienced in a long time.

simplyBrand is offering e-commerce verification services to reputed clients around the world and has now entered a new era with its blockchain-powered solutions to offer a revolutionary platform for helping tackle the menace of counterfeiting from the growing world of e-commerce.

What is simplyBrand?

simplyBrand was created with a vision of building a world of e-commerce which is free from counterfeiting and where the identity of the brand and the consumers are protected against fake products. To put this thought into action, simplyBrand has come up with a unique amalgamation of AI, blockchain and crowdsourced participants. It is a platform on which the brands can seek services to detect sellers and online merchants involved in selling fake products. Along with technology, the platform also seeks the help of crowdsourced participants who can directly report the counterfeit products. The data of all such merchants is put up on a public blockchain, creating a sort of “blacklist.” This creates an economic and reputation hurdle for counterfeiters. En bref, simplyBrand spans everything which can be the beginning of the end of the counterfeit product market.

How is simplyBrand beneficial for the parties involved?

● The brands can secure their image and reputation by identifying the counterfeit version of their products using the services of simplyBrand and making the consumers aware of such merchants.

● Crowdsourced participants will be the ones reporting the counterfeit products by verification or with AI’s aid. They will eventually help create a clean, authentic e-commerce marketplace that respects intellectual property.

● simplyBrand will increase the effectiveness of the enforcement agencies as they would have direct access to the list of verified counterfeit products.

● The third parties like law firms will also benefit from this platform as they would have access to quality information about the counterfeit products and the risks involved with them.

Conclusion

simplyBrand is bringing technology and people together by channeling their efforts in the direction of creating an e-commerce world free of counterfeit products, and their possible dangerous effects. The platform aims at ensuring that a customer can buy a product without the fear of being tricked into making a purchase that ends up not just being fake and a wastage of money, but also precarious to health and wellbeing. The damage done by the counterfeit products has left a dent in the market and has affected the buyers and the brands equally. While many efforts to overcome this difficulty have failed, simplyBrand offers the latest technology for the best solution to the issue of counterfeiting.

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