SimplyBrand is a platform used to overcome product counterfeiting.
With the number of business competition that occurs today many manufacturers or companies are competing to carry out promotions to boost sales. But there is one obstacle faced in the field that is very disturbing and must be immediately eliminated. The disruption is counterfeiting of manufactured goods from the best brands that are widespread in the market. All of that becomes a problem faced by all companies in the whole world. Because it can be detrimental to companies that have struggled to create quality new products. For this reason, SimplyBrand makes projects that are useful to minimize and reduce the potential for counterfeiting manufactured goods to avoid large losses.
The problem faced is that there are many people who still buy counterfeit products rather than genuine goods. This is the challenge faced by SimplyBrand to be able to do prevention in reducing the number of counterfeiting. To overcome this problem, SimplyBrand will create a platform to help clarify the existence of counterfeiting. SimplyBrand will use a combination of the blockchain, AI, and crowdsourcing technology to eliminate counterfeit goods through online worldwide for all existing products. With the support of blockchain technology, SimplyBrand will be able to blacklist these fake items by publishing them to the public. In this way, it will reduce the potential for counterfeiting practices. And AI can help to collect data and information on products that have been faked and published online as well. So that the SimplyBrand platform can help reduce and minimize the occurrence of counterfeiting from the initial stage. And there are several steps that can be done by the SimplyBrand platform to analyze the existence of counterfeiting. The first is the Identification process by using an e-commerce platform to scan data products to become a database of millions of goods profiles. Then verify the data that has been identified using AI, natural language processing, semantic analysis, image recognition technology, and the human layer to verify whether or not the product is genuine or counterfeit. And the last one is Enforcement, so after the product has been identified as counterfeiting it will be forwarded to the third party will respond by reporting it.
Another solution made by SimplyBrand is to make SBA tokens to make it easier in handling counterfeiting. SBA tokens are used to give rewards to parties who have reported fraud that occurred. And the reward can be resold in exchange or can be used to purchase brand privileged items on SimplyBrand platforms. And can be used by Brands to buy brand protection services on the SimplyBrand platform by buying it on an exchange.
The sale of SBA tokens is carried out through the ICO mechanism before being traded directly on the exchange. SimplyBrand cooperated with the Cobinhood exchange to carry out the ICO sales process and later listing it in the exchange. Hopefully, the sales can be successful and we can immediately make the actual transaction on the exchange as an investment asset. Because this SimplyBrand is a very good and promising ICO project in the future.
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