New technology blockchain based platform SigmaLedger is about to bring a transformational change in the field of counterfeit prevention. This innovative firm launched a new ledger powered system that will focus on factors such as supply chain management, transparency, theft proof, and digital marketing. This platform will facilitate manufacturers, distributors, and suppliers to store and maintain data sans any central authority which further eliminates the possibility of counterfeit. Precisely, this is what blockchain is all about.
In addition to this new system, the blockchain powered platform has also obtained Seed Round funding from EPAM Systems. This will be used for the continuous improvement of the system, reaching customer needs and market launch from time to time.
SigmaLedger President Roman Polupanov stated that this new technology will offer a better monitoring of supply chains ranging from pharmaceutical companies to luxury goods manufacturers. It is also capable of combating counterfeit products in the market which will ensure a trusted process of purchasing. He further added that lack of supply chain transparency and counterfeiting are the major existing problems in the domain of manufacturing. (Via Securing Industry)
The recent report on Global Brand Counterfeiting unveiled enormous figures of counterfeited goods last year. It has approximately amounted to $1.2 trillion in terms of their value. The forged products include a wide range of leather goods, footwear, tech gadgets, healthcare, and pharmaceutical items. It is expected that this investment in the blockchain will support accelerated adoption of a discrete set of use cases and proof-of-concept which can be used for advanced business growth in the future.
What SigmaLedger Is All About?
The new technology blockchain solution provider company is a public permission network that manages a private network of nodes. It also permits a third party to add up in their network. This is system is highly optimized which is capable of providing huge volume and enhanced performance according to Sigmaleader Blog.
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