eal Network, a company that uses blockchain technology to fight counterfeiting, was selected by the European Commission to co-create a blockchain-based anti-counterfeiting platform for Europe during the blockathon in Brussels from 22 to 25 June 2018. The team is aided by Deloitte's global trade partners who share Seal Network's mission to create the infrastructure of authenticity.
Counterfeiting is a growing problem for consumers, producers and governments. With the blockathon, the EU is looking for companies who will create the infrastructure to combat counterfeiting. The blockathon opens leading institutions, domain experts, industry, government partners and technology companies to co-create relevant prototypes to address the anti-counterfeiting challenge.
Seal is building a network that can protect the entire European continent from product related crimes such as counterfeiting. Seal combines blockchain technology with near-field communication (NFC) chips and a mobile app to securely verify product authenticity. With the Seal app, consumers and government institutions, like customs agencies, can easily check whether a product is fake or authentic. Seal will expand their blockchain powered product authenticity platform to create applications specific for the European Commission.
“The European Commission has rightfully identified that anti-counterfeiting is one of the best use cases for distributed ledger technologies. We could not be more excited to join the Blockathon and build the European infrastructure of authenticity as it aligns perfectly with why we started Seal Network” – Bart Verschoor, CEO of Seal Network.