Internet technologies are slowly replacing conventional ways we communicate in the growing digital world.

Users along with business representatives from every sphere find themselves interacting with a variety of tools provided by the different platforms in order to establish a better communication channel while at the same time secure the everyone’s private space on the global network.

At a certain point, the evolution of technology and the introduction of new concepts unlocks new digital dimensions, which are opened for everyone to explore.

The introduction and the eventual consolidation of the blockchain platform is one of the examples of the limitless potential of the practical applications of such tools.

Product identity has been a topic of discussion for a while now and fake goods still have their considerable share of the global market.

Blockchain provides the means to prevent fraud

High tech companies try to expand on the blockchain technology by offering a new level of interactions between users and business entities via a mobile application.

Such kind of service is provided by company ReCheck. It implements creating a unique product identity for an item.

The user can store this information on the blockchain and add more facts to it, thus showing the entire history of the item. This can potentially increase the value of the product and since the user can later decide to transfer ownership – be sold at higher price.

This case also refers to storage of important documents such as certificates, diplomas or intellectual property.

Because blockchain uses decentralised storage, it provides immutable filling by the latest security standards and therefore becomes more preferred platform for document safekeeping.

Such applications bring the utilisation of products related to the verification for authenticity, and namely the NFC (Near Field Communication) stickers and tags.

Companies like ReCheck combine best of both technologies in order to verify if products are fake or genuine. By featuring an NFC sticker or a tag, the product contains its entire history as a secured entry on the blockchain.

This is also great for businesses who are struggling with cheap imitations of their products that end up in the hands of consumers.

The described cases are used for the establishment of communication channels between businesses and end users in order to validate authenticity, give more information about products and provide better services in future.

👉 Check out more information for the blockchain technology

Author of the article: Emiliyan Enev

Емилиян ЕневEmiliyan Enev is the President of Startup Factory and a mobile technology entrepreneur.

He manages his own product – a blockchain startup Recheck that adapts itself as a ready technical solution for the needs of different businesses.

Emiliyan has several online projects and digital products behind him, his strengths being related to business process management, online marketing, content creation, validation of ideas, customer engagement and monetisation strategies.