- Bonafi (formerly known as Group Project) -
Authenticating the Supply Chain Using Blockchain Technology
By integrating the Crypto-Tag™ and Mobile Application with Blockchain technology, we are empowering Brands, Retailers, and Consumers the ability to fight against counterfeit products.
About Us
Bonafi is a Blockchain company based in Los Angeles. Our team is dedicated in solving the problem of counterfeit products plaguing the world. Each one of us here at Bonafi has been a victim to counterfeit goods, and we are personally invested in eradicating it from our society.
Our Mission
Bonafi is on a mission to defend all brands and retailers big and small, and protect consumers from counterfeits by implementing a fail-safe authentication system using blockchain technology.
We invite you to join our newsletter for the latest updates and discussions regarding our project.
Current Global Problem
Counterfeit goods make up about 2.5% of global imports according to Organization for Economic Co-operation and Development (OECD). PriceWaterhouseCoopers has estimated in its 2017 report that the surging cost of global counterfeiting has been 563 billion Euros in 2000s and 1.594 trillion Euros in 2010s (strategyand.pwc.com).
This does not include collateral damage caused by counterfeit goods: legal battles between brands and consumers, additional cost to repair or replace counterfeit goods, medical problems caused by inferior materials used in counterfeit goods, and even death.
Current Global Problem
Counterfeit goods make up about 2.5% of global imports according to Organization for Economic Co-operation and Development (OECD). PriceWaterhouseCoopers has estimated in its 2017 report that the surging cost of global counterfeiting has been 563 billion Euros in 2000s and 1.594 trillion Euros in 2010s (strategyand.pwc.com).
This does not include collateral damage caused by counterfeit goods: legal battles between brands and consumers, additional cost to repair or replace counterfeit goods, medical problems caused by inferior materials used in counterfeit goods, and even death.
Global Counterfeiting Market by Sector 2013 estimates (strategyand.pwc.com):
Our Solution
It Starts With the Crypto-Tag™
A Crypto-Tag™ (U.S. Patent Pending) is embedded within the product which will serve as the Crypto-Engine. The Crypto-Tag™ can be manipulated into virtually any type of material, making our Crypto-Tag™ versatile for any product on the market.
Supply Chain Authentication
As each item moves through the supply chain from distributors, to wholesalers, to retailers, additional data will be recorded onto the blockchain via the Crypto-Tag™ & enterprise applications. This authentication process will not only protect the brand, but also protect those selling the brand.
Consumer Verification
Consumers and third-party sellers will scan products with their mobile devices to verify the authenticity and also register purchased goods adding the final layer of authentication.
How It Works
Authentication & Verification Process
Projected Roadmap
Partnership
Blockchain-Empowered IoT Asset Management Platform
NetObjex provides enterprises and technology companies with the most comprehensive IoT platform in the world. Their focus and goal is to provide customers with excellent service, and partner with clients to develop industry leading solutions.
Recent News & Updates
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Bonafi Supports Teenage Artist to Protect Her Work
Bonafi, Inc, a blockchain company solving authenticity of online goods, has agreed to provide a solution to EllyaStory.com, a tote...
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Bonafi Interview on Disruptor Daily – Blockchain In Supply Chain Management Use Case
Do you every worry about inadvertently purchasing counterfeit goods over the Yuletide season? What to do about knock-offs?
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Bonafi, Inc inks a deal with Kobelli, an Online Diamond Retailer
Bonafi, Inc, a blockchain company solving authenticity of online goods, has agreed to provide a solution to Kobelli, a...
