Did you know that each time you buy a counterfeit good, one legitimate company loses revenue?
Our research shows that corporations suffer € 150-200 billion each year in Europe, which leads to lost profits and lost jobs over time. However, it is not only the reputation of companies damaged by counterfeiting but also consumer confidence in the global market. Moreover, counterfeiting is not a victimless crime: a low price comes at a high cost to yourself and others. If we should say at least one thing we already know about counterfeit goods, they are dangerous and illegal. Yes, but also it costs our city because counterfeiters do not pay taxes. In concrete terms, this means less money for your city's development: schools, hospitals, parks, and other social programs. Furthermore, counterfeiters do not pay fair wages or benefits to their employees; on the contrary, they provide poor working conditions and often use forced or child labor.
Legitimate manufacturers devote significant resources to building a reputation for quality among consumers: they devote remarkable resources and money to researching and developing products. Counterfeiters, in turn, dishonestly try to profit from another company's good name, and it is often fatal to small businesses and entrepreneurs.
The covid-19 pandemic has overwhelmed global business and, to date has created the most substantial negative impact chain security effect in history. The Trade of fake goods increases alarmingly compared to previous years. 10% of pharma and cosmetic products are manufactured, equivalent to € 9,6 billion per year, and the figures are getting only high. However, fake medicines can be the most significant risk, causing up to 20,000 children's deaths every year. The penalties are just a slap on the hand; this is instead about murder by fake medicines. The Trade of counterfeit products is an economic threat in Europe and represents 10% of the EU budget (€15 billion/year).
Now you may ask what types of items are counterfeited?
The answer is anything that can be made can be counterfeited, including alcohol and tobacco, jewelry, handbags and purses, perfume, CDs, DVDs and games, baby formula, medications, clothing and accessories, phones and chargers, tools, electronic equipment, and parts, airplane and automobile parts, toys, paintings, sculptures, rare coins, and the list goes on. We have not even mentioned the food industry yet.
Can you imagine a portable fake detection system that helps you get instant results and store them?
We have already thought about this, and this is why we have developed a mobile app to identify commercial counterfeits. With an accuracy of detection above 98%, NIRWatchDog provides a rapid, easy-to-use method for quality detection and control, identifying products related to packaging and the product inside.
From now, with your help, we can join the fight against counterfeiting
With Luxembourg University, we developed an Artificial intelligence (Al) based quality control solution, using Near-Infrared Spectroscopy to authenticate materials and products to identify commercial fakes.
The SnT’s NIRWatchDog solution helps multiple industries solve real problems, specifically for authentication of products' raw materials susceptible to economically motivated tampering, using Machine Learning, Blockchain Technology, and Automated Storage.
We aimed to create a product that could be widely used and become a competitive product in the market. In addition, we want to make it easier for companies in different industries to identify real problems, especially effects susceptible to counterfeiting. It has already been established that SnT NIR Watchdog is ahead of other NIR software solutions, primarily due to the blockchain technology used. (Blockchain is a public database that records data as chained blocks. It is essentially a decentralized architecture built on a multi-party consensus based on multiple peers.)
NIRWatchDog solves the problem of data authenticity and prevents inspected data manipulation. However, we are the only ones who have developed a working prototype that can be used outside of laboratory conditions.
We believe that the market has recently been identified as mature and receptive enough to adopt this new technology combined with advanced machine methods and blockchain technology. According to research conducted by our team, The NIRWatchDog is applicability for both commercial and governmental use, such as:
Low quality (imitation) detection
Food quality inspection for regulatory purposes, particularly in the case of chocolate production with low quality and counterfeit detection, but also cheese, caviar, alcohol/spirits (especially mid-level Vodkas – Finlandia, Smirnoff, Absolut), and many others.
(In these cases, the most common methods include the use of inferior quality raw materials, repackaging of cheaper products, rewriting of expiry dates, processing of spoiled food, adulteration of origin-protected products, and the sale of non-organic food as organic)
Luxury cosmetics, clothes, and accessories, which are the most common counterfeit products
Art – Paintings, sculptures, rare coins
Agriculture: determining optimal harvest timing by assessing fruit maturity – This may be relevant for grapes, olives, medical cannabis, and the wine industry, with problems of rapid detection of wine maturity and in place quality inspection.
Animals' nutrient analysis – Instantly check the quality of animals' food
Public places security – Detection of hazardous materials, such as drugs or explosives
Tobacco industry with a counterfeit detection problem.
Overall, introducing the right timing for the market and the correct development strategy may reach a solid number of bodies interested in implementing non-invasive quality control and counterfeit detection measures.
According to research conducted by our team, there is high potential applicability of the developed technology for commercial and governmental use. Therefore, considering the aspects analyzed currently, SnT’s NIRWatchDog is a leading solution, and we believe it can reach many small businesses and entrepreneurs.
As for us, the team decided to become an independent entity since they believe that this form of the business will be more fruitful, having better potential for realization.
We believe that environmental conditions will be favorable for NIRWatchDog. The team is well motivated and willing to promote the product to the next stage.