CONTEXT: Counterfeit, fraud and identity theft have raised strong consumer distrust and heightened their expectations worldwide. To preserve brand identity and consumer trust in our digital era, brands need to improve security, provide product transparency and provenance.
Unique incorruptible digital identity of connected devices – secure Digital Twins
Scalability and interoperability of various smart city systems
Machine integrity enables autonomous interactions
Consumers are exposed to product and identity fraud and its potential dangers. It has become very hard to discern the difference between fake and real products before a purchase. Selling or buying a vintage watch for example is complex because of the parties’ varying trustworthiness. Only consumers with specialised expertise would be able to verify a product's authenticity.
QR codes and certificates can be forged and only provide one way information transactions.
RFIDs and holograms can’t eliminate theft and counterfeiting.
Online registries expose consumers to identity theft and private data hacks.
RIDDLE & CODE SOLUTION
The non-removable R&C crypto chips are programmed with a cryptographic secret and are embedded into each single product.
The cryptographic secret (unkown to R&C and the specific brand) provides each product with a unique, immutable digital identity.
This secret is unalterable recorded and stored on the blockchain.
Only through the brand certified users can add dedicated product information.
A dedicated app provides for effortless product authentication checks and ownership registration.
Anyone, anywhere using the app can check the authenticity of a product on demand.
Consumers can securely store their products’ proof of authenticity, ownership record and other documentation, like warranties while preserving their privacy data.
Brands can protect their brand identity, deliver on their brand promise and re-build consumer trust by providing the tools and transparency to prove it.
Consumers are empowered with direct, on demand access to accurate, reliable and trusted product
Detection of counterfeit or stolen items can be recorded and authorities notified.
E-Commerce enabled – Based on the end-to-end solution, consumers can now trust authenticity information provided. Paper certificates will become redundant and potential buyers can verify any product’s identity without needing a central authority, thus enabling easier transactions and developing E-Commerce.
The user downloads the App.
The user scans the watch with an NFC capable mobile device.
The App will show an immediate result.