openPR Logo
Press release

Singapore Business Review: Fighting Counterfeits in Retail Through Blockchain with LINFINITY

02-14-2019 02:43 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: LINFINITY Pte,Ltd

Singapore Business Review: Fighting Counterfeits in Retail

“Counterfeit goods not only deceive consumers, but also bring an indelible crisis of trust to enterprises. It is obvious that traditional anti-counterfeiting means cannot meet the rapid development and demands of modern business behavior – thus, new scientific and technological means must be introduced to help traditional enterprises to mitigate the problem in this industry,” the recent release of the Singapore Business Review highlighted in the special report on LINFINITY’s latest commercial achievement.
Due to its technical sophistication, blockchain is very esoteric and difficult to understand, which discourages the majority of companies from even attempting to engage with it as a viable business platform. Knowing this, Singapore local blockchain company LINFINITY is attempting to commercialise blockchain technology, with an ongoing commitment to informing and popularising blockchain knowledge at the same time. LINFINITY CEO Anndy Lian states that, the integration of blockchain technology with traditional enterprises is not as complicated as one might initially imagine. At present, LINFINITY has been providing blockchain-based anti-counterfeiting services for Singapore healthcare company Scientific Tradition, Japanese haircare brand Herbriller and etc.
LINFINITY has recently turned its attention to the problems which arise from greater data integration between and within businesses. The information collected through traditional big data is rich in volume, but cannot solve the problem of low accuracy. LINFINITY attempts to combat this issue by revolutionizing the storing method using blockchain technology, and analyzing the data collected through IoT devices with the support of AI.
Under the premise of achieving this goal, LINFINITY has adopted a three-step strategy in its anti-counterfeiting technology:
The first phase is to effectively implement on-chaining of commodity information. LINFINITY packages relevant product information relating to a specific product and uploads it to the dedicated LINFINITY blockchain, which generates a corresponding QR code. When customers use LINFINITY DApp to scan the QR code, detailed information of the product can be queried, and guarantees the genuineness of the product scanned, as the information recorded onto the LINFINITY blockchain cannot be attacked, tampered with or influenced by any external factors in the process of circulation – due to the inherent transparency and security of blockchain technology.
The second phase is to achieve commodity anti-counterfeiting. Consumers can obtain commodity information by scanning the QR code behind the LINFINITY Mark, so as to confirm where, when and how (if required, and only if that information is uploaded by the product’s company) that good was produced and transferred from place to place. Customers can query the ownership of goods, effective scan times, etc., with great scope for further possibilities: this is the only way LINFINITY sees fit to use in order to realise blockchain commercialisation.
The third phase is to achieve commodity traceability. LINFINITY puts IoT and AI technology at the heart of the entire supply chain process, which not only clearly controls the logistics and warehousing of goods, but also obtains accurate feedback on the channels and terminal sales of goods so that companies can accordingly adjust the marketing strategies for their products. For consumers, when their rights are infringed by fake goods, they can use the traceability function of LINFINITY DApp to find where the problem is to protect their legitimate rights and interests. This will be the iconic achievement of continuous iterative optimisation and perfection techniques in LINFINITY’s ongoing process of blockchain commercialisation.
In a nutshell, the comprehensive business ecosystem of LINFINITY, consisting of the above three steps, attempts to solve the problem that traditional data processing cannot achieve “precision screening” to ensure that information and feedback obtained by both the enterprise and the client are deeply consistent with their potential “needs”. This is the huge potential of blockchain’s commercial value, and this is the direction LINFINITY has been moving towards.

About Singapore Business Review:
Singapore Business Review is a business magazine that is published by Charlton Media Group. It has an audited circulation of 26,000 and a readership of 83,088 readers in Singapore and regionally. The magazine covers a wide array of topics and focuses on the Singaporean business landscape. The magazine covers conferences, roundtables and events held in Singapore that are related to the business environment in Singapore.
About LINFINITY:
As a credible distributed business platform underlying Blockchain, Internet of Things and Big Data technology, employing a guideline of “Internet of everything and sharing with mutual trust”, LINFINITY is a platform with reliable data, transparent information, efficient cooperation and interconnected network to cope with the practical business pain points and development demand of corporate users.
For more information about LINFINITY and their future activities, please visit www.linfinity.io or contact pr@linfinity.io.

Facebook: https://www.facebook.com/linfinity.io/
Twitter: https://mobile.twitter.com/LinfinityToken
LinkedIn: https://www.linkedin.com/company/linfinity/
Medium: https://medium.com/@linfinityio

About LINFINITY:
As a credible distributed business platform underlying Blockchain, Internet of Things and Big Data technology, employing a guideline of “Internet of everything and sharing with mutual trust”, LINFINITY is a platform with reliable data, transparent information, efficient cooperation and interconnected network to cope with the practical business pain points and development demand of corporate users.

LINFINITY
1 Scotts Road Shaw Centre #20-30/40 Singapore 228208

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Singapore Business Review: Fighting Counterfeits in Retail Through Blockchain with LINFINITY here

News-ID: 1588104 • Views: 438

More Releases from LINFINITY Pte,Ltd

Smart Factory Transforming from “Manufacturing” to “Intelligent Manufactur …
The concept of “Industry 4.0” was officially announced by the German government in 2013 at the Hannover Messe. Since then, its influence has taken the world by storm. From steam mechanization to power automation to data informatization, the Industry 4.0, driven by “intelligentization”, will completely subvert the expectations, changing perceptions of productivity and production relations in the traditional manufacturing industry by way of qualitative change – an immortal monument, perhaps,
5G Mobile Communication Technology is the Foundation for Intelligent Supply Chai …
The upgrade of current 4G network technology promotes the rapidly-approaching onset of 5G network capabilities, moving away from traditional methods of simple person-to-person communication. Both person-to-object and object-to-object interconnectivity is under consideration in current 5G network design. A high communication rate, extraordinary network capacity, and low latency are the most significant features of 5G, and they play a key role in undertaking large numbers of terminals and high-speed data communications The
LINFINITY Teams up with Asian Productivity Organization to Promote Blockchain-ba …
To enable the widespread adoption of blockchain-based cybersecurity technologies, LINFINITY, a credible distributed business platform underlying Blockchain, Internet of Things and Big Data technology, formally signed a Memorandum of Understanding (MOU) with the Asian Productivity Organization (APO) in Tokyo, Japan. The cooperation will help Asia-Pacific enterprises join smart manufacturing chains through the innovative use of blockchain solutions. Established in 1961 as an intergovernmental organization, the APO works with 20 member
LINFINITY Announces Cooperation with Asian Productivity Organization to Promote …
On March 14th, LINFINITY formally signed a Memorandum of Understanding (MOU) with the Asian Productivity Organization (APO) in Tokyo, Japan, to enable widespread adoption of blockchain-based cybersecurity technologies in APO member countries. The initiative will help Asia-Pacific enterprises join smart manufacturing chains through the innovative use of blockchain solutions. Established in 1961 as an intergovernmental organization, the APO works with 20 member governments in the Asia-Pacific region to improve productivity

All 5 Releases


More Releases for Singapore

Magento development company singapore
Suria International, a leading Magento web development company An online shop is the need of the hour in the age of eCommerce and mCommerce. Advancing technology has introduced several platforms to build feature-rich online stores, but Magento has remained a preferred choice of many online retailers for years. High scalability, broad system support, and result-oriented adaptability have made Magento eCommerce development popular worldwide. Magento, with its three variants- Magento Community Edition, Magento
ITIL Singapore
ITIL Singapore Certification Training at Vinsys. Get ITIL Training with EXIN & PeopleCert Accredited ITIL Certification Training with IT Tactic of Business Vision ITIL Singapore. ITIL Foundation Singapore is the most widely recognized entrance-level ITIL certification for IT professionals. IT departments need qualified specialists who can carry effective IT services. This ITIL Singapore training will show you the ITIL Singapore services lifecycle, how lifecycle steps are linked, processes elaborate, and finest
Baby Food in Singapore
The Singaporean baby food market is small in terms of total size, but highly developed in terms of per capita consumption. The fluctuations in the number of births have a clear effect on sales. In value terms, almost 90% of the market consists of baby milks, with the bulk of the remainder split between baby meals/drinks and baby cereals in 2015. In volume terms, milk accounts for 76.9%, wet meals
Jewellery Market in Singapore
Summary This report helps to analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Jewellery in Singapore Description Consumers in Singapore are becoming more adventurous and are increasingly opting for exclusive and unique designs to differentiate themselves. For example, there is growing demand for non-diamond engagement rings in Singapore, with home-grown label Carrie K witnessing a 15% boost in sales for
WBLCA & Technology Seminar Singapore
Just as technology has reshaped how individuals communicate and how organizations do business, it also having a profound impact on the practice of law. Technological developments are affecting management strategies in corporate legal departments, and changing how legal services are delivered. Venue: Singapore (Hotel Mandarin) Date: 15 May 2016 Registration: 8.15am to 9.00am (Singapore Time) Event: 9.00am to 5.00pm WBLCA & Technology Seminar examines both the: (a) legal challenges (b) opportunities
Avolution Opens Singapore Office
Avolution, developer and supplier of software solutions for enterprise modeling, planning and IT strategy, announced today that it has opened a South East Asian office in Singapore. The announcement follows strong growth throughout 2014, which is projected to increase further over the next twelve months. “South East Asia continues to be a strong region for Avolution,” said Mark Denford, Asia-Pacific Manager, “and Singapore is at the centre of this growth. Singaporean government