Block Odyssey, a Korea-based startup, has revealed a new security system that allows users to track their products and data throughout logistical processes using an easy and reliable platform.
It has been reported by KoreaTechDesk that the company believes that technology can help safeguard against the misuse of products and data by using blockchain to enhance security.
With the counterfeit and piracy market rising at an alarming rate, Block Odyssey has seized the opportunity to ensure product and data authenticity through its digital signature embedded QR code blockchain technology, which also helps to manage logistics.
However, the platform promises transparency by enabling all stakeholders involved in the logistics of products and data, including customers, to monitor every stage of the distribution or production, from data tracking to certification after purchase.
Likewise, Block Odyssey says that it hopes the technology, which uses PoET to support flexible node change, will be able to prevent product counterfeit/modulation going forward.
Additionally, efficiency is perhaps the biggest strength of this technology, because of Block Odyssey’s fast transaction processing and high-level security measures.
Engaging To Many Industries
Potential customers of the platform include the pharmacy, cosmetics, electronics and IT markets, which are in high demand for stopping counterfeit and piracy. The technology is set to be integrated with global leaders such as LG, AmorePacific, and Guerbet to further develop a secure platform between companies and consumers.
Thus, Block Odyssey expects to hit its sales target of US$16 million by 2021.