Reducing fraud & counterfeits in the luxury industry.
Real world challenges:
- Lack of trusted information on provenance
- Value loss due to counterfeits
- Unreliability of traditional tracking systems
Imagine having a digital twin of every product
A digital twin is a digital representation on the blockchain that allows records to be kept on the history of every product.
The history of a product is a source of value for luxury items. Digital twins can store events, provenance, owners, or any other valuable information. The digital twin becomes a certificate to prove authenticity, provenance and ownership.
One day, an object without a digital twin will be considered fake or stolen. This will make it increasingly difficult to repair, resell or use these products and will therefore disincentivize crime and protect manufacturers and customers.
How to use G2C to build traceability in luxury items
Manufactures can issue digital twins on G2C in a few simple steps:
- Create a G2C App using the G2C web platform
- Create a user / wallet to issue and to sign digital twins using a verified identity
- Issue NFTs as digital twins of each product
- Create Metanet objects to store important information and content on chain
- Create a web platform to manage digital twins and transfers
- Integrate with existing IT systems
“Imagine somebody stealing your gold and it turning into lead, and when you recover it, it turns back into gold again”