According to the OECD importation of pirated and counterfeit goods amounting to almost half a trillion dollars a year in 2013. That’s 2.5% of all global imports.
Seal wants to empower brands and creators to fight back against that piracy using blockchain and chip technology.
In order to raise funding to implement their vision Seal is currently undergoing a public token sale.
Read on to learn more about seal and the details of their token sale.
What Problem Seal Solves
As noted above counterfeiting is a huge problem. It robs brands and creators of massive amounts of revenue. This in turn makes it more difficult to develop original and high quality products, because it is harder to recoup these development costs. Consumers typically want to support the brands and creators that they like but there is no simple way for them to work out if a product is genuine or not.
How Seal Solves This Problem
When a product is manufactured Seal provides the manufacturer with NFC chips. These NFC chips are then discreetly added to the product. Each of the NFC chips is then linked to a database on a decentralised blockchain network. This creates a tokenised digital equivalent to each of the individual products.
If a customer wants to find out if a product is authenticate or not they simply need to scan the product using the Seal mobile app. This will tell them straight away if the product is genuine or not. It will also provide relevant information about that product to help the customer in their buying decision.
Other Benefits of Seal’s Technology
Seal doesn’t just solve the problem of authentication. Because their is now a digital version of each product linked to the real product in a database, ownership can now be tracked. When the customer on sells the product to a new owner, that new owner can add their ownership to the database. There are good reasons for them to do so including theft prevention and for insurance purposes. To claim ownership they will need to pay using seal tokens. These payments can then provide revenue to the brand or creator of the product.
Overview of Seal Token Sale
Exchange rate: 1 ETH is equal to 7000 seal tokens
Total number of seal tokens: 1.2 billion seal tokens
Total number of seal tokens for sale: 492 million seal tokens
Soft cap for token sale: 36 million seal tokens
Seal website: https://seal.network/
Seal white paper: https://seal.network/seal-whitepaper.pdf
Seal Telegram: https://t.me/sealnetwork
Seal Bitcointalk ANN: https://bitcointalk.org/index.php?topic=2929809.0
Seal Facebook: https://www.facebook.com/SEALnetworks
Seal Twitter: https://twitter.com/seal_network
Seal Medium: https://medium.com/sealnetwork