Did you know that product authenticity, manipulation and fraud costs the global economy more than $600 billion a year? This is a statistic that got Lan interested in an exciting company called Veracity…
Veracity is working to combat this huge problem that most brands face. It is enabling trust in the fully digitised and automated world. Its mission is to protect people, brands and national security.
Its solutions protect brands reputation, reduce costs and increase customers trust.
Veracity Protocol is the new standard of trust for physical objects to protect people, brands, and national security. Using computer vision, Veracity Protocol enables any camera to create a tam- per-proof Physical Code™ based on an item’s material structure.
The standard is used as the key component for preventing counterfeiting, fraud, and manipula- tion, and as the immutable bridge between the physical and digital.
For example, it enables any camera to create a tamper-proof Physical Code™ based on the product’s physical structure for securing the authenticity, identity and security of physical objects across all industries.
Veracity Physical Code™ is a non-invasive and tamper-proof solution to represent an item’s unique material structure. Its Physical Code™ cannot be changed, manipulated, or tampered with because it is based on an item’s unique material structure — unlike tags, chips, or invisible markers.
When we think of counterfeits, the first thing that comes to mind are the fake Gucci and Nike products that we see online or in vendor stalls on the sidewalk. Although forgery costs luxury ap-parel brands billions of dollars every year, there are numerous other industries where counterfeit- ing can pose an even bigger risk.
Forgery of important government documents, such as driver IDs, passports, and visas, contribute to a growing national security risk for countries around the world.
Growing supply and accessibility to fakes has made it increasingly diﬃcult for national govern- ments to protect and verify their documents. In fact, counterfeit passports and ID documents have become widely available on the dark web. Digital scans of passports can be bought for less than $15 USD, and cybercriminals have been able to oﬀer increasingly higher quality fakes.
What’s even more concerning is the fact that it’s very challenging for government and security of- ficials to properly detect these counterfeit documents.
To combat this security problem, Veracity Protocol can enable existing cameras to detect fraudu- lent documents at a higher accuracy and faster speed, thereby equipping security oﬃcials to veri- fy authenticity and detect tampering in real time. The solution can also help governments, print- ers, and KYC providers automate visual inspection and quality assurance during the manufactur- ing process and at the point of issuance.