Komposite launches blockchain technology that will solve the counterfeit problem that challenges brands worldwide. This platform connects real products with blockchain using blockchain technology and triple scanning technology embedded into products, making it impossible to counterfeit global brand products.
As a result of copycats, counterfeiting has become one of the world's biggest criminal enterprises. Globally, counterfeiting affects $1.8 trillion in marketplaces, making it the most widespread crime. The solution to this problem lies in the Komposite blockchain technology. Due to criminals' increasing sophistication, technologically advanced solutions are necessary to address this problem. Blockchain technology is having a profound impact on how the world operates, from finance to food and beverage. In light of Komposite's availability, it can play an important role in overcoming the counterfeit issue that diverts revenues and destroys profits for stakeholders and brands.
Founded by Noam Krasniansky, Komsposite is also changing how product authenticity can be fortified. This new blockchain network allows brands to link their products to digital NFTs, giving them a unique digital fingerprint married to an immutable security link. As a result, a product becomes uncopyable, giving long-term assurance and security to global businesses while assuring product authenticity to end users and providing secondary revenue streams from untapped secondary markets. This platform's concept was born when the founder developed Ooonimals, an Oooniverse where real-world collectibles are linked to digital NFTs. As a result of realizing the potential of the concept, the solution was further developed as a real world solution to combat counterfeiting for every product company.
Komposite blockchain has four types of nodes. Stakeholders are represented in every node, offering their own specialized method of representation and interaction. Firstly, the Trusted Verifier Node (TVN) were designed for companies to become part of the blockchain. This is how they control their product in a decentralized manner. The next two nodes, Clerk Node and Verifier Node work in organizing, directing and verifying transactions for the network. Finally, the User Node is the interface that regular users will use to interact with the network.
With this new paradigm of the Komposite blockchain, which shifts slow, low-volume, expensive networks to high-volume, high-velocity inexpensive transactions; real-world brands can establish clear proof of ownership, authenticity and control by using unique security links that create a digital bridge between customer and brands.
As an effective tool for holding counterfeit giants accountable, Komposite aims to create balance in the retail arena.
About the founder
Noam Krasniansky, a British national, founder of the Komposite foundation (Switzerland). Noam believes in 'innovate or die', which is exactly why he came up with the idea of Komposite. He has developed award-winning products for television, social media, print, and digital. The combination of Noam's innovative spirit and creative abilities has led to the creation of Komposite.
Cut out counterfeit attempts? Reid Fruits and Laava show it’s possible
Over three years, Reid Fruits drastically reduced the number of counterfeit attempts on their premium Tasmanian cherries, sold in Asian export markets where the brand was in high demand and had a strong reputation that was at risk from inferior products sold under fake Reid Fruits branding.
In the 2019-20 season, in a bid to fight the fakes, Reid Fruits introduced Laava Smart Fingerprints® on its cherry boxes bound for 20 export markets. The result: only 10 counterfeit attempts, all of which were automatically stopped by the Laava platform.