Real Items Foundation, a startup headquartered in San Francisco, is testing a blockchain-powered ‘Shopify’ plugin as part of its plan to offer reliable commodities to online consumers.
The plugin is based on the blockchain technology and “TAM” application to verify that each product carries its brand before selling it online.
CEO David Menard said many cosmetic, skincare and fashion companies are currently testing the “Shopify” plugin before officially launching it in the first quarter of 2020.
“We are trying to push consumer protection 3.0 by putting the tools in the end consumers’ hands. There are no apps to download – consumers simply use their smartphones to scan a QR-code to verify the authenticity of an item. Consumers can also use WeChat to scan items to ensure that they are real,” Menard said.
Menard stressed that this technology will contribute to protecting consumers from fraud when purchasing commodities online.
Users can easily download the plugin to ensure that the product is authentic through scanning its code.
“Since we use NFTs, we aren’t generating or distributing anything close to a security. We maintain the smart contract balances for enterprise making it as frictionless as possible to adopt blockchain for business,” the CEO said. “Using our plugin enables brands to use a public blockchain for product authenticity and consumer engagement.”
Online consumers should actively adopt the blockchain technology, especially as the ecommerce market is expected to exceed $740 billion in 2023. However, such consumers are worried about the unclear market regulations and requirements.