The True Cost of Counterfeiting
Counterfeiting is a global issue that is estimated to become a $1.82T dollar problem by 2020, draining $4.2T dollars from the global economy. Beyond the huge economic impact, there are serious health and safety concerns, ($200B dollars are spent annually on fake pharmaceuticals) and significant legal implications. Furthermore, e-commerce has spawned additional new markets that further complicate anti-counterfeiting enforcement.
Matrics2’s Random Number Identification (RNID) technology, in conjunction with NSA proven one-time pad encryption applied to all devices and products in the world, is capable of eliminating this global problem. The system “hacker proofs” data theft and data alteration.
An additional benefit of the RNID technology is that it will accurately authenticate that the RNID is real, then verify that it is associated with the valid product or transaction.
Legitimate brand owners and businesses alike recognize the growing problem of counterfeiting that poses public health concerns, financial losses and product liability issues. Manufacturers need a proactive approach to protect their customers and their brand integrity from the dangers and financial losses of counterfeit products.
The counterfeiting activities will continue unabated always risking costly brand reputation, people's health and economic alarm globally. Brand owners just cannot wait for the law makers and enforcement agencies to address this issue alone and must take all the necessary steps to minimize business loss and protect their brand reputation.
Counterfeiting leads to diversion of funds earned into other illegal activities. It also violates Intellectual Property Rights (IPR) of individuals and companies and discourages them from deploying more of their resources towards research and development activities.
That's why at Matrics2's we have developed an innovative and experienced technology and solution designed to protect any global brand from counterfeiting, which offers a failproof solution to all brand protection and product verification requirements. This technology allows you to build a unique RNID identification system into your product during its manufacturing process. The technology can be implemented at a very low cost, making the product itself the brand security tool through source tagging.