INTRODUCTION
We all love branded products, isn't it? Many of us might have bought a Gucci bag or a Polo t-shirt from a nearby store. But ever been disappointed with its quality? Ever checked if the product is real one? As the need for quality products increases, the quantity of counterfeit goods also is increasing. Counterfeit products are indeed becoming a headache to consumers as well as manufacturers. They not only causes huge losses to manufacturers, it also effects the reputation of brands in adverse ways. Counterfeit marketplace is a booming industry with billions of dollars being made annually. These revenue made are actually the losses of the real manufacturers. Seal Network is a new project that comes up with a unique idea to fight against the global counterfeit industry.
WHAT IS SEAL NETWORK?
Seal Network is a new blockchain based project whose main goal is to create a Platform for product authentication and Anti counterfeiting. It's main goal is develop an easily accessible Platform for Customers to ensure product quality. Present available counterfeit detection systems are costly and time consuming. Blockchain technology put forwards a revolutionary concept with the help of which cheaper and faster transactions can be achieved. With the help of Blockchain technology Seal Network helps in product authentication and counterfeit detection in a better way. Seal Network uses Near Field Communication (NFC) technology for product authentication. Seal ensures instant service for the ease of customers through NFC technology.
HOW DOES SEAL NETWORK WORKS?
Seal Network uses Blockchain along with NFC technology for its service. NFC chips are incorporated within the goods which helps in product identification and tracking. The whole details about the supply chain process of a product is stored across the Seal's blockchain. These data's are used by retailers for their sales system.
The Seal Network consists of four components:
Seal Chip
These are NFC chips which are incorporated within the goods. These chips uses NFC wireless technology for communication with Seal Platform. They helps in registering the product in Seal Network.
Seal App
These are applications developed across Seal Network which will be compatible with all operating systems. They are used to scan seal chips and collects data from them. All details that ensures the product authenticity will be provided by the seal app.
Seal Token
Seal Tokens are used to fuel the platform. All transactions across the platform are done using Seal Tokens. Uses includes to pay for services by consumers, to claim/transfer ownership of product, for tracking, customer integration etc.
Seal Network
It includes the nodes within the Seal blockchain that stores all data's of products within the database. Seal Network ensures scalability and usage of smart contracts for Platform operations.
SEAL TOKENS AND TOKENSALE
Seal tokens are used for all transactions within the platform. Seal tokens are built on Ethereum blockchain and are Erc-20 tokens. They are utility tokens and their value depends on their usage across the platform. Seal tokens will have a total supply of 1.2 Billion. Tokensale is live and runs until 27th May. A total of 492 million tokens is allocated for tokensale. All unsold tokens will be proportionally distributed to the ICO participants.
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