TokenLabs, ObjectID, and IOTA aim to sidestep outdated checks by assigning cryptographic IDs to items.
Live updates on IOTA’s ledger help expose tampering at any point in a product’s lifecycle.
Counterfeiting drains an estimated $450 billion from the global economy every year, and that figure could more than double by 2030. From fake luxury bags to imitation pharmaceuticals, the damage cuts across sectors. Conventional protection methods such as QR codes, barcodes, and holograms have lost effectiveness as counterfeiters continue to outpace them.
A new path is being explored by TokenLabs in cooperation with ObjectID and IOTA. Instead of relying on central databases, the model assigns digital identities directly to physical products. TokenLabs makes the case:
The solution isn’t better databases. It’s a new layer of trust built on decentralized identity.
Counterfeiting is a $450 billion/year problem eroding trust in global supply chains
The solution isn’t better databases
