NFC Authentication Solution Addresses a $646 Billion Anti-Counterfeiting Problem
By 2015, The International Chamber of Commerce expects the value of counterfeit goods globally to exceed $1.7 trillion. The U.S. pharmaceutical market is 4 billion prescriptions annually and the counterfeit investigations opened by the FDA covered a range of drugs, from cancer to attention deficit hyperactivity disorders (ADHD) and narcolepsy. Counterfeit electronic parts have become a major integrity issue in the U.S. Department of Defense as well as in the commercial and industrial marketplace.
Counterfeiting is a worldwide issue for liquors, wines and high-value spirits, resulting in tax losses due to smuggled alcohol worldwide of $5 billion. Fake alcohol can also carry significant health risks. Sometimes, it’s merely an inferior alcohol being substituted and sold as a pricier one. But counterfeiters also use chemically distinct alcohol that’s dangerous if consumed.
Similar counterfeit stories can be found in the luxury fashion goods markets.
Brand owners in the luxury fashion, wine, liquor/spirits, pharmaceutical and electronics industries can now enable their customers to authenticate the validity of their products in the marketplace using SecureRF’s Veridify solution. Veridify’s secure NFC tag enables consumers and commercial users to confirm an item’s identity and optionally retrieve or collect additional data from Veridify’s cloud computing platform, using just a smartphone. The manufacturer would incorporate our secure NFC tags into the product or the packaging. The customer would use the Veridify Smartphone App to quickly confirm an item’s identity. They can authenticate products anywhere, without Internet or cell access, and optionally retrieve or collect additional data or marketing offers from Veridify’s cloud computing platform, using just a smartphone. Veridify is a non-destructive anti-counterfeiting solution that is ideal for quickly authenticating microelectronics, wine, handbags and other high value assets in the field.
The authentication process does not require network or Internet connectivity, specialized testing or laboratory facilities, thus making it affordable and easy to implement. Optionally, when wireless or cellular connectivity is available, a failed authentication could trigger notification with the details. A successful authentication could provide the verifier with additional product information, such as production date or maintenance records, from a database in the cloud, and could be used to track parts as they move through the supply chain.
Manufacturers can use the authentication and data protection features of the SecureRF tag to address problems of counterfeiting and provide unique in-field product control.
- Revoke and reinstate product authentication
- Revoke and reinstate reader/smartphone access to the tag and data
- Support recalls and reverse logistics