PR: OIN SPACE partners with Elbi to reward consumers who help tackle the counterfeit trade

OIN SPACE is a startup applying revolutionary blockchain technology and smart-contracts to help eliminate counterfeits, protecting consumers globally from fake, low-quality and hazardous goods.

The annual market of counterfeited goods has reached $1.2trn in 2017 (according to Research and Markets, Global Brand Counterfeiting Report, 2018).

This huge issue stays unaddressed, causing dramatic losses across multiple industries, including clothing, textile, footwear, cosmetics, medical & food products. Not only do these losses affect companies and economies, but it sometimes endangers people's lives.

OIN SPACE has teamed up with the charity platform Elbi to help put social purpose at the heart of their proposition. ELBI uses cutting-edge technology to help make giving simple and cool rewarding its users for every dollar donated. The partnership between ELBI and OIN SPACE will allow consumers to check goods authenticity by simply scanning the blockchain-baked QR-codes while supporting fundraising for charitable causes and earn rewards that can be spent in Elbi's Love Shop.

OIN SPACE provides near-absolute protection for this. It is also convenient and easy to use for the consumer as well as for businesses implementing the core solution. Everything manufacturer needs to start protecting goods with OIN SPACE is a blockchain backed QR-code on the product. The consumers will then be able to scan QR-codes using the OIN SPACE mobile app. 

Elbi's chair Derek Gannon said, "The technology behind OIN will help consumers and manufacturers benefit from an ecosystem built on trust, while ELBI's unique expertise will make it simple and rewarding for OIN users to support the charitable causes they love and gain rewards for their giving. Together we will create an ecosystem that protects consumers and supports good causes, harnessing innovation and technology to change the world."

OIN SPACE CEO and сo-founder Anatoly Smorgonskiy says: “We are launching the pilot project with the leading Russian cosmetics manufacturer, bringing transparency and safety to the market, while the partnership with ELBI will contribute to a more conscious consumption pattern, allowing to spend the bonuses from manufacturers on the good deeds and charity.”

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