Bonafi Supply Chain Blockchain Company - Fighting Counterfeit Goods

Photo Credit http://nymag.com

Amazon has been facing a lot of criticism for not being able to stop fake reviews from appearing on its product pages. Whoever creates these fake reviews is harming not just the brands but consumers and sellers as well. It has now become evident that it is not a handful of brands that are creating fake reviews but there is a whole underground world where these reviews are created like a product. Companies that buy these counterfeit reviews have not stopped at admiring their products excessively. In fact, they have gone to the extent of maligning their competitors, which is what makes this matter even more serious.

Bonafi Has Been Working to Fight All Types of Counterfeiters

There aren’t many technologies in the world that are as effective as Bonafi in fighting the counterfeit products, their creators and distributors. The NFC enabled Crypto-Tag™ running on blockchain can put an end to the trillion-dollar counterfeiting industry worldwide. While it seems on the surface that Bonafi is most suitable for products, it can solve the counterfeit review problem on the internet as well. Keep in mind that Amazon is not the only online retailer fighting this battle.

A Use Case Showing Bonafi to Combat Fake Reviews

Step 1: Product Authentication

Brands and manufacturers insert the Crypto-Tag  and record the supply chain information to the blockchain with the use of Bonafi solutions.

Step 2: Product Registration

After a user has purchased a product, they would be rewarded by the manufacturer with BonaU token to register the product. Their registration is only possible if the product they have purchased is authentic.

Step 3: Rewarding of BonaU

Users will be persuaded to register the product because doing so will earn them BonaU coins on Bonafi App for future use.

Step 4: User Reviews the Product

User can now leave an honest review for the purchased product. The review automatically records on blockchain.

Step 5: User Is Rewarded for Review

Brands and manufacturers of the products will not have to approach the customers to convince them to leave reviews on their products. Instead, the rewarding of BonaU tokens for leaving a review will be attractive enough for users to feel compelled to review their purchased items.

Step 6: Amazon Accepts Reviews from Bonafi

Amazon will now have an option to use a third party to show the user reviews It will know at this point that these reviews are honest and for authentic products that have been registered by real users.

Step 7: Bonafi Follows Up for a Lifetime of the Product

Bonafi will continue to encourage users to leave reviews as during the lifetime of the product. All the reviews will go on to the blockchain and will add more authenticity to users’ reviews and the purchased products over its lifetime.

Why Does Bonafi’s System Work?

Here are the reasons why Bonafi system works excellently to put an end to fake reviews on Amazon or any other retailer website.

Counterfeiters Must Spend

Fake reviewers want to make money from their reviews. It is their greed for money that has given rise to such an industry where fake reviews are created like commodities. However, Bonafi platform requires users to spend BonaU tokens to review products, which will deter counterfeiters from leaving fake reviews.

The Registration

Product registration solves the counterfeit problem in many ways. First, if the product is a counterfeit, the purchaser will not be able to register it in the first place. Secondly, unless the product is registered, the buyer will not be able to leave a review.

Real Consumers Have a Reason to Contribute

One of the issues with such systems is that it is difficult to encourage users to contribute. On the Bonafi platform, users earn BonaU tokens for reviewing products and registering them. These BonaU tokens help them purchase authentic products and avoid counterfeit ones. The system automatically encourages users to review products and register them.

Win-Win for Brands and Consumers

Using the Bonafi system creates a win-win situation for both, brands and users. Users can leave subsequent reviews on the products as they continue to use them. Brands can use those reviews to record valuable data about their products and improve them based on that.

Amazon Wins Eventually

Amazon will eventually win in the end. It will not have to spend millions of dollars to create an anti-counterfeit review system. Instead, it will rely on Bonafi to ensure that only authentic brands sell authentic products on its platform. Furthermore, there will be no place for fake reviews because of how the Bonafi system works.

Conclusion

The world has been in need of a solution like Bonafi for quite some time now. Helping Amazon get rid of fake reviews is just one facet of what Bonafi can achieve with its system. The primary purpose of Bonafi is to help brands and consumers track counterfeit products and prevent counterfeiters from costing the world billions and trillions of dollars every year.

0 Comments

Leave a reply

Your email address will not be published. Required fields are marked *

*

©2018 Machine Thinking Systems, LLC, DBA Bonafi Blockchain Company

Log in with your credentials

Forgot your details?