simplyBrand

The counterfeit products market has grown rapidly in recent years with the expansion of E-commerce and compounded with the increased use in mobile devices resulting in 7% of world trade being counterfeit products; purchasing goods online is becoming easier than ever, so counterfeiters are able to penetrate multiple global markets. In a research conducted by NetNames, a renowned firm in the brand protection field, shows that up to 80% of the products sold on Taobao, one of the biggest E-commerce platform in China, are counterfeit products. In addition, until before June 1, 2015, Weidian, an associate company of Tencent in China, cleared almost 10 million counterfeit products from their platform, but that only amounted to 0.9% of the total products sold on their platform. 

Despite the fact that counterfeiting poses significant threats to individuals, brands, insurers and governments, effective methods have not been undertaken to tackle this issue. As consumers and brands have continued to suffer from counterfeiters, simplyBrand has developed the perfect solution to stop counterfeiting in global E-commerce for good. 

The simplyBrand platform will combine AI, human ingenuity and blockchain technology which will be used to create an immutable “blacklist” of counterfeit product vendors available for the world to see, while the tokens within the blockchain will incentivize crowdsourced participants to utilize the simplyBrand platform. 

The simplyBrand platform for cleaning up E-commerce will follow 3 stages:

- Identification: E-commerce platforms will be scanned constantly for product data to create an ever-expanding database with millions of product profiles; 

- Verification: the data will be analyzed using AI, Natural Language Processing, semantic analysis, image recognition technology and crowdsourcing to verify whether a given product is genuine or counterfeit; 

- Enforcement: after a product is determined to be a counterfeit, enforcement agencies will be able to access the product information, remove offending product