Charles Hoskinson recently spoke about anti-counterfeiting. How are we going to develop hardware based on basically any counterfeiting solution? And, about what is the University of Wyoming Laboratory doing? Excited by the YouTube question, Charles thought it would be fun doing a White Board presentation to discuss and think about it.
The clarification is about the work that Cardano is doing at the Wyoming Lab concerning and authentication and anti-counterfeiting.
He started off the White Board application stating, “Let’s say you have got a handbag.” He further stated that the handbag lives in a supply chain. There are stages in the supply chain. And, eventually, you get to the retail, which is the endpoint. So, what happens is as your handbag goes from each stage of that supply chain, things can go wrong. Counterfeits can be made. They can be stolen. And, kinds of crazy shenanigans happen.
And, where you can introduce anti-counterfeit solutions is an open question. Generally speaking, it is not standardized amongst all these different retailers. So, Gucci, LVMH, Rolex, and all of these vendors may have different ideas about what to do, and those are things like invisible inks, holographic tags, serial codes, and there are many other things that they can introduce. And the idea there is that there usually are some special group of people that live within the supply chain who add in the authentication and anti-counterfeiting component.
Cardano ADA – Explicit Capabilities in Authentication and Counterfeiting
Because the factories that manufacture the luxury good in some cases, they run additional shifts even if they are not supposed to, and they are likely to manufacture counterfeit products. Though, there is usually some sort of segregation here. So Trillion-dollar businesses when they are being counterfeited; however, do you know something is real?
And, there are all kinds of really cool ideas and techniques that people prop with. The things that I have just mentioned there are serials codes and inks and holographic tags that are kind of early generation stuff.
Sydney Ifergan, the crypto expert, tweeted: “Cardano (ADA) differentiates early generation stuff from new generation tactics that we need to hold fight counterfeit. Thus clarifies there is a new way of doing every little thing.”
The early generation stuff to help keep counterfeiting even the sophisticated ones that are around for the past 15 years are not consumer-friendly. In the video, he sometimes clarifies the people who make fake counterfeiting products are people who actually make the real products. This is where the explicit capabilities of blockchain come in to play to help differentiate between counterfeit and true products.
