provenX

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  Manufacturer MVP

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Inspiration

The internet has made our lives easier and more comfortable; however, you can become anyone or anything online- at least for a while. We have often heard stories about catfishing an individual, for instance. But it's not just people; even goods can be "catfished." Sometimes people order a certain product from an online website and end up with lower quality products or, worse, something completely different. In the last several years, the cost of return deliveries has grown by 75%, reaching an estimated $550 billion in 2020. It is a waste of not only the time of the customer but also various resources.

What we learned

Counterfeiting products or catfishing products, as branded goods, is one of the most important and difficult issues to deal with in national/international markets. With the rapid development of e-commerce and i-commerce, it is clear that the development of anti-counterfeiting systems is urgently needed. Return of online purchases has adverse consequences on the environment as well as the ecommerce industry.

How is our proposed solution being different from similar kind of solutions by the competitors in the current market

For more than a decade, RFID (Radio Frequency Identification) has attracted a lot of attention as a key technology in the world of IoT (Internet of Things) because it can be used to detect counterfeit products. Though it is operational, RFID technology isn't efficient, and it has various flaws in its systems and standards. To overcome the drawbacks of RFID, a new protocol was proposed named POMS (Product Ownership Management System) using Blockchain, but it was not commercially developed into a system that was proven in an operational environment. We propose to overcome the operational and functional drawbacks of the current solution(s) surrounding the problem.

What's so novel in our idea and how is the idea different from others?

The uniqueness and distinctive features of the solution:

1. Using Blockchain to maximize data sharing securely.
2. The formulation of smart contracts, which is entirely dedicated to checking product authenticity and identifying counterfeited goods.
3. Depicting the original description of products from the manufacturer rather than intermediates.
4. A manufacturer-based approach to increase product outreach in a secure and reliable manner.
5. A crypto-credit system for users to encourage genuine reviews of products.
6. A decentralized database of previously Genuineness-checked products.
7. Using encryption algorithm, Advanced Encryption Standard (AES) to protect data in transit.

What's next for provenX

1. To Integrate all the entity functionality in one sole dApp.
2. To partner with various other initiatives from ecommerce companies to reduce counterfeiting.
3. Ui/Ux improvements
4. Adding more functionalities with the existing.
5. Deployment of the dApp in other ethereum blockchains.

Built With

• javascript
• nextjs
• node.js
• sha256
• solidity
• wagmi