How Seal Plans To Use Blockchain & Chip Technology To Combat $1.7 Trillion Counterfeit Market

In 2015 it was estimated that the global counterfeit market was valued at $1.7 trillion.

It’s a huge problem, but one that might soon be solved by a simple tap or scan with any smart phone.

Seal is introducing a exciting new solution to the problem of counterfeit products. By adding a NFC chip to a product and then linking that chip to a decentralised database on the blockchain, Seal is able to provide a transparent and reliable record of the authenticity of the individual product.

Customers can access that information by simply using their seal app to scan the product that they are considering buying. Instantly that customer can determine whether or not the product is genuine or not.

Background to Seal

Seal is the creation of Bart and Joris Verschoor. Bart and Joris previously developed a social mobile game startup. In 2013 they began to put the hardware from game startup towards Bitcoin mining. They then discovered that this blockchain technology could be combine with NFC technology in order to prevent counterfeiting. The idea was borne then but didn’t come until full fruition in 2017 when they started to put their plan into action.

Overview of Seal

Seal creates a tokenised version of each product. This is done by embedding the seal chip into the product and then connecting that chip to a unique entry on the blockchain. This allows consumers and brands to immediately verify if a product is authenticate or not. But, also enables a range of product services such as the ability to transfer ownership of a product with a complete record being stored on the blockchain. It can also be used for brand activation campaigns and product analysis.

Key Details of Seal Token Sale

492 million seal tokens will be distributed in a token sale. This is out of a total supply of 1.2 billion seal tokens. Seal tokens are being offered at a price of 7000 seal tokens to 1 ETH. You can find out more information about seal and the token sale by visiting:

Seal website: https://seal.network/

Seal white paper: https://seal.network/seal-whitepaper.pdf

Seal Telegram: https://t.me/sealnetwork

Seal Bitcointalk ANN: https://bitcointalk.org/index.php?topic=2929809.0

Seal Facebook: https://www.facebook.com/SEALnetworks

Seal Twitter: https://twitter.com/seal_network

Seal Medium: https://medium.com/sealnetwork

https://bitcointalk.org/index.php?action=profile;u=1138788

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