Today we are excited to announce the launch of simplyBrand.io, a disruptive new platform combining Blockchain technology, AI and crowdsourcing focused on fighting counterfeiting across global digital commerce channels.
Our Vision for the Future
There is no reason for counterfeiting to be so widespread; people and their purchases matter, as do brands and their products, which is the core belief of simplyBrand. simplyBrand will create a new world for digital commerce wherein brands and consumers are protected from the damaging effects of counterfeit goods by combining the latest technologies to develop the best solution possible.
Counterfeiting is Plaguing Digital Commerce
Consumer purchasing habits are shifting towards making purchases on E-commerce platforms, with eMarketer estimating such purchases will reach 12% of all global trade by 2019. Compare this to Nielsen’s Connected Commerce report which has revealed that in 2016, 57% of consumers worldwide purchased a product online from outside of their country of origin and it begins to paint a picture of an ever-growing global shopping landscape.
Within online sales platform are an increasing amount of opportunities for counterfeit retailers to reach new markets, and they are seizing these opportunities faster than anyone can imagine. In fact, losses due to global online counterfeiting amounted to 323 billion USD in 2017, according to the Global Brand Counterfeiting Report 2018–2020.
The Solution to Creating Safety and Trust
simplyBrand is presenting a solution to the problem of rampant counterfeit products that have flooded global E-commerce by establishing an organic platform which will combine blockchain, AI and crowdsourced participants.
Brands will use the simplyBrand platform to request brand-protection services, crowdsourced participants will directly report counterfeit products, or work with the AI to verify the authenticity of E-commerce products and the Enforcement Agencies will use the platform to access lists of verified counterfeit products.
The simplyBrand platform for cleaning up E-commerce will follow 3 stages:
Brands will have counterfeit versions of their products quickly identified, verified and removed, helping to maintain a positive image and regain market share. They will give back to the platform by helping to improve the accuracy of the verification process and contribute to whitelisting legitimate retailers. Counterfeit retailers will be exposed, giving brands the chance to learn more about the source of counterfeit products.
Participants will be shown product information and verify if it is counterfeit, helping to improve AI accuracy. They will also be shown product pictures and will verify genuine products, helping to improve image recognition. Finally, they will directly report counterfeit products on E-commerce platforms, helping the AI to collect real samples for further improvement.
Enforcement agencies will gain access to a large amount of counterfeit product info instead of having to find it manually, allowing them to increase their earning potential and prove their effectiveness to brands and potential new clients.
3rd party organizations will participate to improve their access, and subsequent offerings, to a variety of brands. Many 3rd parties already working with brands will benefit by having access to a system wherein they can find data to help evaluate the risk factors which counterfeiting poses to a brand.
The simplyBrand Roadmap
We began our journey back in 2013 when we first built our AI and data collecting program to provide tech-based solutions for global brands. Then, in 2017, after years of learning about the counterfeiting problem that exists for all brands, we received our first request for proposal. This led us to develop a blockchain based venture focused on creating trust in digital commerce by identifying counterfeit products and facilitating their removal.
Now we are moving towards gathering crowdsourced participants to engage with our platform and expand its’ use, which will lead us to releasing our first proof of concept, the Impact Calculator, to help brands measure the possible loss of revenue on online marketplaces, as well as our second proof of concept, the Counterfeit Risk Detector, which will allow anyone to submit a product URL and then have the URL and website evaluated for the risk of being or possessing counterfeits products.
To learn more about simplyBrand, our solution and how you can join the fight against counterfeiting in digital commerce, check us out on Telegram or visit our website by following the links below. You can also visit us on September 26th at Blockchain Live 2018 in London at booth B40. Our CEO, Kaufman Chang, will be speaking at the event on the Pitch Stage from 2:55–3:10pm.