Consensus’s Summary

The anti-counterfeit qualities that Bitcoin introduced sparked entrepreneurs in several industries. Blockchain applications for brand authenticity, verifiable certifications, and seals for organic foods or child-labor-free production processes are now several years into development. These same anti-counterfeit qualities have also found a home for new markets in the collectibles industry. This panel brings together these entrepreneurs to discuss how they are all using the same technology to both fix important global problems and to just have some fun.

Speakers

Sunny Lu – VeChain

Tyler Mulvihill – Consensys

Dieter Shirley – Crypto Kitties

Summary

– The uniqueness of items is growing in popularity. People love having a personalized story behind their items. Being able to have a unique story behind their item, have it trackable on the blockchain, and having a single identifier to prove it is theirs makes it special.

– This traceability can stem to all items: Food, clothing, cars, art, digital items. They can either be assigned a unique identifier via smart contract or traced VIA RFID.

– These items can then be looked up by their unique identifier, and know the story from now, all the way back to its origin.

– The example used was a car. A car will be given a unique identifier from the factory. This car can then be tracked through its entire life cycle: maintenance records, accidents, amount of owners. This then can be used by dealerships to give it a fair price and also for the consumers to ensure they are getting a fair price. There is no missing records or rolling back the odometer.

Also published on Medium.