Cobinhood, a cryptocurrency service platform and zero-fee exchange endorsed by Richard Sherman, announced on Tuesday it has teamed up with e-commerce verification platform simplyBrand to support and advise the launch of the company’s initial coin offering (ICO). According to Cobinhood, simplyBrand is an inclusive ecosystem combining artificial intelligence, blockchain, and crowdsourcing to eliminate counterfeit products in digital commerce.
Cobinhood also revealed that simplyBrand will use A.I. and blockchain to embed enhanced identification and verification processes into every transaction and the information of the infringing parties will be published on the blockchain’s ‘blacklist’ for public reference, increasing costs and creating new barriers for counterfeit retailers. Speaking about the company and new partnership with Cobinhood, simplyBrand Founder and CEO Kaufman Chang, stated:
“We want to empower society to embrace online shopping and create a better experience for one another. We know that this will start with blockchain as it creates the transparency needed when visiting a digital checkout counter with no employees to be found. With Cobinhood’s backing and strong expertise in building a blockchain based community, we will be able to bring about necessary change.”
Cobinhood then noted that ICO tokens supported by its platform maybe be listed on the COBINHOOD zero-fee exchange after their token sale process, preventing low liquidity. simplyBrands’s token private sale officially kicked off today. Cobinhood Co-founder, Popo Chen, went on to add:
“The potential to strengthen the global digital economy is what makes this project so exciting. simplyBrand is bringing much-needed protection to online purchasing and COBINHOOD will continue to back the company in its resistance against counterfeiters. We’re very excited to support this project and look forward to the success of the sale.”