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Manufacturers can thwart the rampant counterfeiting that is happening on a global basis, and enable consumers to be confident that what they’re buying is a genuine and legitimate product.
Counterfeiting and pirating of commercial goods is a massive global challenge. It’s estimated that roughly $1 trillion in commercial value was lost to counterfeit and pirated goods just five years ago and that the problem could triple by 2022. Not only does this affect the manufacturers’ bottom line, it damages their reputation and even their workforce, with an estimate of up to 5.4 million jobs lost due to this problem.
The need for authentication of goods is clear, and stakeholders for such authentication capabilities include virtually everyone who makes, transports, buys or inspects the goods in question. Customs agents, distributors, retailers and customers all want to be sure that the items they’re processing, selling or purchasing are what they claim to be.
Certificate Authorities have been used for decades as a proven security mechanism for protecting website domains, browsers, and electronic signatures.
Also, two-dimensional barcodes (QR Codes) have been around for many years and have advanced in their market acceptance due to the use by airlines, concert tickets, and many other applications.
LocatorX has merged these capabilities into a proprietary method for encoding validation and verification data into an advanced version of the QR Code, which we call a Certified QR (CQR), and instead of certifying a website, manufacturers are able to certify products.
The CQR is both effective and inexpensive, because it has a unique identifier for every individual product to which it is affixed, allowing manufacturers to embed specific validation data. This data will be presented to a consumer when they scan the CQR and they can quickly validate the product’s authenticity before buying it. Because each code is unique, any counterfeiter who duplicates a code will affix it to a product that will no longer match the specific product attributes, allowing retailers and consumers to know immediately if they’re holding a counterfeit product in their hands.
LocatorX’s Product Certificate Authority is now available to manufacturers. For further information, please complete the contact information below and a representative will be in touch.
Use your phone's QR reader to demo what information a consumer might see when they scan one of our CQR codes.
Fill out the form below and a member of our team will get in touch as soon as possible, generally within one business day.