Know How to Remove Duplicate Products with Blockchain Technology


Suppose you buy an 8 GB RAM or
You buy a costly MRF Tyres 1000 Rupees or your favorite
Ray-Ban aviator. It’s all good, the nightmares start when you found out that
they are duplicates. Well, Blockchain can ensure that
there are no duplicate products. Hello Everyone, Myself Shailendra and
I will explain you how blockchain can ensure that
never get the duplicate products. before we start let me tell you, Blockchain is the technology which helps
to keep a record of the transaction, and ownership of assets in blocks
which can never be modified but it can be accessed by everyone.
It’s public. And only the owner of the records can
modify or transfer it So let’s get started. Consider an example,
when you go to buy the tire you see the logo or maybe the hallmark
and you buy it instantly. Assuming it’s the original product. But believe me,
the duplicators are so expert they produce the look-alike product
in such a way that it’s not possible for people like us to differentiate between the original products
and duplicate products. Here blockchain comes into the picture. Now assume a company creates
a product a Tyre. Now they will create a record of tire in
the blockchain mentioning that tire 10012 is being created. They will also mentioned
their size dimension etc. Now this record can never be modified
by any person other than the company. Thanks to the blockchain. Now Company ship the product
to the distributor as soon as the distributor gets the
product, he becomes the owner of the tire. Now the distributor ship’s the tire
to the retailer and now the shop owner becomes
the owner of the tire. In the blockchain, we will also create
the records of distributors, retailers, company owners etc,
I mean all the parties involved. Finally, the tire is with the retailer. You go to the shop and ask for
the tire for your vehicle. Here the actual works of Blockchain starts, you want to ensure that
whatever you are buying is coming from the original manufacturer. Well, the records of blockchain are public, you open your blockchain application scan the number 10012
and do a quick search. Blockchain will tell you that
the product is original and the retailer where you are standing in
the right owner of the tire. You are happy.
Yes, you are buying the right product. Here one more thing is required, you need to ask the retailer to transfer
the ownership of the product to you. once you get the ownership of tire,
even the retailer can’t modify the records. In the future, someone uses the same
code for selling a duplicate tire the other customer will know that the retailer is not the right
owner of the tire. If someone will enter the fraud
or wrong id like 10013, blockchain will tell him that
such a tire was never manufactured. That’s it. The same concept can be applied
to all types of products. Hey if you want to learn
more about blockchain you can visit our website Newtum.com or if you want to develop this
application for your company or you want to launch this product
we have the model ready. If you have any queries
put that in the comment we will answer that for you. If you like this video please share it
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