Ownify: Ensuring unrivaled authenticity for fashion brands
Ownify’s Digital Product Passports not only combat counterfeiting but also foster a new era of trust and accountability in the fashion industry, benefitting both consumers and brands alike.
Counterfeit products within the fashion industry pose various damaging effects on both consumers and businesses. These impacts take shape in a number of ways, including:
Economic loss, damage to brand reputation, Loss of consumer trust, Undermining intellectual property rights and their impact on innovation and design.
Ensuring transparency and authenticity in the fashion industry is not an easy task with its global supply chain and decentralized retail shops. As a result, we at Ownify have come up with a solution to combating counterfeits utilizing the potential of Blockchain.
Blockchain technology provides a secure and decentralized platform that ensures the immutability and transparency of data. It eliminates the need for intermediaries, reduces fraud, and enhances trust among all stakeholders. Additionally, blockchain offers real-time visibility into transactions, enabling businesses to make informed decisions and improve overall efficiency.
