If you have ever bought a name-brand product online, you know how hard it can be to verify that the product is real. Even in retail stores, you can't always guarantee that what's on the shelf is the real thing. And that's just new - what about when you buy something second-hand at a thrift store or on eBay? It's a complete gamble whether it's a genuine product or a knockoff. That's where Veritise comes in, with a platform to help you verify the authenticity of a product.
Veritise is a new platform that is a blockchain-based service that will revolutionize data collection and identity verification. The platform will provide a secure and immutable database for companies and individuals to store data securely. From curriculum vitae with verified references to trusted online reviews to business card verifications and even a way to confirm fast personal identity, Veritise is building two-way communications between consumers and manufacturers via a QR code scans system set up to provide instant registration of product warranties.
One example mentioned was purchasing a Gucci bag from a 3rd party retailer. Using the Veritise system, you can verify both the authenticity of the bag with a "tamper-proof private key" that comes along with the product and also verify who the current owner of the product is. The important note is that whomever you are purchasing this product from (whether it be a retailer or a manufacturer) needs to be partnered with the company in order to be part of this process.
When data is entered into the Veritise Platform, it is stored in a block. Each block is then chained to the previous block, creating a secure and tamper-proof record of data. The Veritise platform can be used by companies and individuals to store data such as customer information, product warranty, and more. This is where the tamper-proof private key comes in. The key is placed on the blockchain and is tied to the owner. Once the product is purchased, transfer of ownership takes place and can be verified on the platform at any time afterward.
The Veritise platform is for any company or individual who needs to securely store data. This includes, but is not limited to, businesses that need to verify customer identity, collect customer data, or confirm product warranty. It is also for individuals who want to be sure that the products they are buying are authentic and that their personal information is secure.
Veritise is partnered with some of the world's leading companies such as Gucci, Samsung, and L'oreal and more partnerships are on the horizon. This means that businesses and individuals can trust the company to provide quality verification and authentication services. It is also the only company to offer a blockchain-based platform that can be used for data collection and identity verification.
Veritise is available now for partners and users. To learn more about the technology and how to verify products, head to the company's website.
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All right, we want to welcome John from Veritise. Welcome to the show.
Hey, How are you?
Nice to be here.
Absolutely. So tell us a little bit about Veritise. And what you guys are doing here. Oh, Veritise. Oh, it is misspelled- Veritise.
Now it makes more sense because it says verify identity and. Okay, so ver ties. Tell us about the company.
Sure. Thanks for having us. Yeah. So basically what we're doing is we're using the blockchain as a security and verification system. So if people do know about the blockchain, which still a lot of people don't.
They associate it with financial transactions a 100%. So what we're doing is we're using it for product authentication. And one way to do that is to fight against counterfeiting. So a retailer can use our system to authenticate, to basically say, this is a real product. Yeah. And we're also doing that for digital documents. We're doing that on the supply chain front and the warehousing front. So every transaction would be tracked on the blockchain. And it would be there for everyone to see and as everyone knows, with the blockchain, that's pretty immutable evidence that cannot be disputed. And so we are using our technology with the power of the blockchain as a verification tool.
So you know, oftentimes, especially today, when it comes to designer handbags, clothes, anything that is really has a significant value. You know, if you go to Louis Vuitton store, you buy a Louis Vuitton bag, you know, you're getting a Louis Vuitton bag, but if you buy a Louis Vuitton bag outside of retail, I don't know.
So will you be able, not only you're helping the manufacturer in the retail, but what happens after? Am I able to verify a product that I'm buying, maybe let's say, secondhand or something to that effect?
So our product is a subscription-based product.
So it's a B2B.
Exactly. One aspect of it would be B2B. So if that particular retailer, or the manufacturer of the product, subscribe to our service. Their products would be already shipped with our QR code technology. And then in the retail environment, the QR code would be placed next to the item. So as a consumer, even though it might not be an official Gucci store, they can still be a legitimate Gucci retailer.
You could walk into that retail space. Use any QR reader. You don't even have to use our app. If you use our app, you'll get more detailed information. But you would just scan the QR code. And it would basically show you the user interface, would basically show you this is authenticated Gucci from the factory. And if you were using the app, you could click on the trace button. And you would actually see every block in the chain showing it was manufactured in this city in Italy. It was then shipped to this distributor. And this distributor sent it to this retail environment.
And all that information would be on the chain. And so that would be immutable evidence that even though you're not in a Gucci store. This real retailer did everything the right way and purchased directly from Gucci.
And assuming then that the QR code has the corresponding serial number of the device if there is such a thing on the-
Yeah, sure. So we use a two-key system. There's what we call a public key, a public QR code, which is just specific to the information. But then say you purchased the Gucci bag, there would be a tamper-proof private key inside the product that no one can copy or Forge. And then you would take that product home. Take the private key out of the package, scan it with your phone, and then you become the owner of that unique QR code. And then your information goes on the blockchain to say I am the rightful owner of this product.
So that's where you If I decide later on to sell that bag.
And I had still have that QR code. The person that is going to buy that could then see the blockchain history of where this bag came from. It didn't come from China, from some fake shop.
If through our app, you can transfer ownership of that bag to someone else. So you would open the Veritise app. And all you would need is that person's email address. They don't even have to be a Veritise user. They would click a link that will be sent in the email. And that would have the transfer of ownership details. They would press accept or complete.
And then that information goes on the blockchain as the second owner.
This needs to be in everything.
The first thing that crossed into my mind was pharmaceuticals.
As it's the applications are really unlimited.
Anything involving the necessity of a true chain of custody.
Right. So at this point, everyone associates blockchain with financial and cryptocurrency.
And our owner had the foresight to say, Well, wait a minute. If we could do blockchain technology for verifying financial transactions, why can't we do it for any transaction or any document the blockchain doesn't need to be.
So that's our patented technology is using the blockchain for those purposes.
Because you know, when a person is buying a fake, they know that usually, they go looking for fake, they're going to get a fake.
But when a person is trying to buy something authentic, they want authentic. And you know, the fakes out there. So good now.
You know, that you don't really know if you're getting an authentic product completely. There's always that nagging thing in the back in your head, Is this? Am I going to go through customs someday? And the guy says, Oh, that's a fake bag. We're gonna confiscate it. So I think the key there is this. This perfect use of the blockchain.
Yeah, absolutely. Like I said, platforms like Threadless, things like that where you're swapping clothes.
Purchasing used clothes. That kind of stuff.
Very, very cool. All right. Well, John, Veratise.
Correct. It's as simple as that.
All right. So now B2B, but there is the consumer component for validation but again, companies that want to get involved in making sure that we're buying your authentic products, talk to you guys.
Exactly. Or for supply chain or warehousing users, we would use that technology to track their product for them to be more efficient in moving it around.
And it doesn't have to be a bag. It could be whatever.
It could be law enforcement. It could be a vaccine moving to a hospital.
It could be cell phone covers. It could be anything.
All right, Wow. Hey.
It's really incredible.
Yeah, thank you so much.
All right. Thanks, guys.
Enjoy the rest of the CES.
TPN CES 2022 coverage is executive produced by Michele Mendez. Technical Directors are Kurt Corless and Adam Barker. Associate producers are Nancy Ertz and Maurice McCoy. Interviews are edited by Jo Mini. Hosts are Marlo Anderson, Todd Cochrane, Scott Ertz, Christopher Jordan, Daniele Mendez, and Allante Sparks. Las Vegas studio provided by HC Productions. Remote studio provided by PLUGHITZ Productions. This has been Tech Podcasts Network Production, copyright 2022.