As 'Co.Design' reports, counterfeit goods are an estimated $600 billion industry, with $240 billion being attributed to knock-off sneakers. With this being an ever-growing problem for big name brands, researchers are looking to create a technology that prevents the counterfeit goods from selling.
Currently being developed are tags that use Bitcoin for 3D-printed trackers that show where each pair of sneakers was made. By offering information about the factories, shoe retailers are better able to spot the fakes -- which can sometimes look incredibly accurate. This is important for retailers and consumers alike, as the knock-off sneakers don't carry the same quality that the originals do, even though they might look the same.
The smart tags would work by being embedded deeply into the shoes, making them impossible to take out. Although still being developed, the tags would help to weed out fake versions and prevent the companies behind them from profiting off unknowing retailers and consumers.
What Makes This Trend Stand Out
- Counterfeit-fighting Technology
- Developing smart tags that use blockchain technology to track and prevent counterfeit sales presents an opportunity for disruptive innovation in the anti-counterfeit industry.
- Blockchain Trackers for Authenticity Verification
- The use of blockchain technology as an authenticity verification method presents an opportunity for disruptive innovation in the authentication industry.
- 3d-printing for Anti-counterfeiting
- The use of 3D-printing technology for the production of anti-counterfeiting tags offers an opportunity for disruptive innovation in the manufacturing and anti-counterfeit industries.
Sectors Adopting This
- Anti-counterfeit Technology
- The anti-counterfeit industry can benefit from the development of blockchain-based tracking technology to prevent counterfeit sales and protect brands.
- Authentication Industry
- The authentication industry can utilize blockchain technology as a new method for verifying the authenticity of products.
- Manufacturing Industry
- Adopting 3D-printing technology for the production of anti-counterfeiting tags can create disruptive innovation opportunities in the manufacturing and anti-counterfeit industries.
