A digital passport solution for a Transparent and Authentic shopping experience
Digital Product Passports emerge as a transformative solution in the fragrance industry, serving as an innovative authentication and transparency tool. Integrated seamlessly through blockchain technology, these passports provide a secure and decentralized platform to ensure the legitimacy of perfumes. Each fragrance is assigned a unique identifier, typically in the form of a QR code or NFC tag, allowing consumers to effortlessly verify authenticity in-store.
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.
