Blockchain technology finds a lot of applications outside the cryptocurrency world. Large companies and corporations use it to introduce significant facilities in running and managing a business. Charitable organizations also see great potential in helping third world countries thanks to this technology. Does blockchain have a chance to also enter the online shopping market?
Secure online shopping
“Real Items Foundation” is a startup based in San Francisco, founded in 2017. The company designs internet solutions targeted at two groups: consumers and enterprises. Their activities focus on creating applications that will help authenticate transactions carried out in online stores.
The company is currently testing the beta version of the Shopify plugin – a platform that allows you to create your own online store. This add-on is intended to enable Shopify-based stores to create NFT tokens – thus preventing fraud attempts and curbing counterfeit sales.
Proud to announce Original Highness's first retail product on the blockchain. Scan the QR code, enter pin & Verify View lab results. Learn more about the product and company who produced it. #blockchain #NFT #VerifiedCertificateOfAnalysis @vechainofficial #authenticity pic.twitter.com/kBqljg5wgy
— Real Items Ⓥ (@itemsdapp) December 19, 2019
Brand tokenization – a fad or a necessity?
The idea itself is not new – in December Nike patented its CryptoKicks trademark, creating the ERC-721 token (i.e. NFT) for each pair of shoes in this series. This was to create something like a unique bar code for each pair of this footwear – except, these bar codes are based on blockchain. Actions of this type are aimed at protecting people from buying counterfeits – along with shoes, the customer receives a token, and with him the history of the owners of the pair.
The Real Items Foundation plug-in has the same assumptions. A company that has a shop based on the Shopify platform will be able to issue such tokens to its customers as a guarantee of the originality of the goods. This type of authorization was called “consumer protection 3.0” by its creators. To verify the authenticity of the product, the client will not need any dedicated application – a simple QR code scanner is enough to confirm the originality of the received goods in a few seconds.
The plugin is currently being tested by a few skincare, cosmetics and fashion stores. The beta phase is to be completed in the first quarter of 2020 – then it will be released for general use.