Benefits and Challenges of Product Tagging Using Blockchain Technology
We often write about blockchain and its benefits for various fields. Yet, implementing blockchain in real life can sometimes bring practical issues. It’s more challenging than you might think, but we want to make sure that you, our reader, know that we are aware of the obstacles and working to overcome them. First of all, more about blockchain and what we actually do. LuxTag® chose NEM Blockchain to accomplish our goal to provide the best possible service to our users. This particular distributed ledger system is known to be faster, safer, and more accessible than other blockchains. Because of its versatile nature, we can serve various industries and different clients.
For example, LuxTag currently works with five different industries. Some of the successful projects include luxury brand Swiss watch manufacturer Chronoswiss. We’ve tagged their new crypto watch collection using blockchain technology to secure the legacy of luxury watches.
For the fashion industry, our representative is Defeet. This company has a long history of producing and selling high-quality socks. Defeet has picked LuxTag to improve their service and enhance customer satisfaction.
Plus, we don’t only serve the private business, but we also want to bring a brighter future to public areas such as the education sector. Therefore, by working with famous Malaysian universities, LuxTag has developed a system called e-Scroll™, which allows registering university diplomas and providing all necessary proof of authenticity and legitimacy.
We are proud to work with our clients and bring them customized solutions. In this article, we want to discuss what benefits LuxTag brings to your business as well as explaining the practical challenges of product tagging.
LuxTag Anti-Counterfeit Solution for Manufacturers
No matter what products you make, in most cases, they are imperiled by counterfeiters. This severe problem can cause a business to lose millions or be eliminated from the market. Not to mention other risks for your brand such as theft, misplaced goods, and lack of consumer insights.
The LuxTag team developed a blockchain-based tagging solution to help manufacturers to fight such threats and bring their business to the next level. How do we do that?
Simple: we will tag your products using an innovative QR code or NFC tag technology. Then our system will track those goods and provide all critical updates to ensure that products are safe and customers are happy. It gives the advantage to follow the movement of an item and make sure it reaches its goal.
We provide the Track & Trace solution for manufacturers but they can even go one step further and offer their clients to claim ownership of the item with our application. By doing that, the end customer makes the product even more valuable as its info, history and ownership will be secure, incorruptible and immutable thanks to its registration on the blockchain. Of course, the manufacturer has to convince its customers to make the effort to download the LuxTag application and claim ownership of the item. This part of the process can be challenging as some consumers won’t bother doing it and won’t consider not worth it to go the extra mile.
However, Here Are the Benefits for You as a Consumer
When we talk about our business, we usually emphasize our direct client – manufacturer. However, we know that a significant part of this process is you – the end consumer. So you might be curious why it’s essential to look for brands that use such concepts. Again, it’s quite simple: when you buy from vendors that work hard to implement the newest technologies to enhance their customers’ experience, you know they care. They care that you would get the best service and product possible and your buyer’s journey would be positive. Besides, knowing where your purchases come helps fair trade and original production.
Our team studied the way our clients and end customers use our technology, and thereby we adapted it to fit different needs. You, as a customer, can download a separate mobile app where you can access all essential data of a new purchase. Depending on a product, you will see when and where it was produced, and get a chance to register yourself as a legit owner.
We Are Working to Provide the Best Service
We receive many questions about our service, and it helps us to recognize customers’ needs. For example, what to do if a card with a code is lost?
If by misadventure it happens to you, you don’t have to worry about it. Without going too much into details, our QR codes and NFC tags include a private key that will allow claiming ownership of the product once you get it. The thing is, that private key is for one-time use only. It means that once you’ve scanned the code, you can do pretty much anything with it – throw it away, lose it or even burn it – you’ll still be verified as the legitimate owner of the item.
Also, let me explain why we use different types of tags. QR codes are popular among brands because they’re easy to generate and they are more accessible for a wide audience, whatever the system the audience uses – Android or IOS. On the other hand, NFC tags are known to be a versatile and secure tagging option. It’s possible to change and edit information behind it, however, IOS users need to download a special app to scan them. In addition, NFC tags are more expensive to generate, that’s why we let the manufacturer choose which tagging method he wants to implement. When we work with different clients, it’s essential to ensure the best service and thereby find the most suitable solution to tag their assets.
Thus, blockchain is a great technology but we still need to take into account its implementation in real life and its challenges, especially when it comes to product tagging. If you are using our product but still have some questions, we will be happy to answer them. Alternatively, if you are interested in using LuxTag tagging solution, we can’t wait to tell you more! You can contact us via email: [email protected] or text us on Telegram: https://t.me/LuxTag_Official.
®“LuxTag”, Trademark registered.
™ “e-Scroll”, Trademark of LuxTag.