Basseterre, Nevis, June 09, 2022 (GLOBE NEWSWIRE) -- Preventing counterfeits remains a perennial problem for brands and businesses despite the technological advancements in this field. Cheap knockoffs are being produced en masse and sold in plain sight and shady marketplaces.
The anti-counterfeiting, brand protection, and security packaging solutions market is currently worth $3.24 billion. Experts project an annual growth rate of 4.4% through 2024 as innovation and demand increase.
According to estimates, global counterfeiting accounts for $1.7 trillion in yearly lost revenues, equivalent to approximately 7% of global trade. These statistics make for grim reading, and the challenge of counterfeit media and assets in the digital space is daunting. Security solutions providers are constantly creating solutions, and companies like REV3AL technology aim to eliminate digital scams in the NFT space in the coming years.
Common digital anti-counterfeiting tools
Digital anti-counterfeiting is a vital aspect of brand and product protection, and digital authentication and tracking technologies help companies create secure systems that verify the authenticity of products. They are more effective when combined to create a robust security system.
These technologies are effective, but they are not perfect. Criminals always look for loopholes and workarounds for these security measures. That is why companies and individuals need to upgrade their security measures by implementing technology like REV3AL to stay ahead of the game.
The most common digital anti-counterfeiting tools include -
Optical character recognition (OCR)
OCRs are one of the most common and effective technologies used in digital anti-counterfeiting. It converts scanned or photographed images of text into machine-readable text. It is useful to verify a document's legitimacy and track its movement through the supply chain.
Digital watermarking is another commonly used OCR technology. It typically involves adding a hidden code or mark to a digital image or document to identify its owner and track its movement.
Mechanical technologies
Mechanical technologies protect products from counterfeiting and tampering. When used in isolation, it is easy to verify the information. When combined with other tools, it can perform identification and tracking tasks, and in some cases, it includes label identification using specific product verification numbers.
Most mechanical products use several kinds of labels, classified according to their physical properties, such as materials used and their connection to the products.
Copy detection patterns
Copy detection patterns prevent the propagation of copied digital content. It uses algorithms that compare a piece of content with a database of known copy patterns. If it finds a match, the content is likely a copy, and steps can be taken to remove it from circulation.
While copy detection patterns effectively prevent the spread of copied content, they are not perfect. It occasionally detects false positives and may flag authentic content as duplicates. This can be frustrating for the user and can lead to wasted resources in resolving these issues.
Next-generation tools - REV3AL technology
Is digital anti-counterfeiting effective? The answer is yes.
REV3AL technology's multi-layered, multi-factor solution is similar to applying multiple locks to a door. A dynamic solution like REV3AL technology combines multiple safety requirements such as tracking and tracing, product authentication, and brand protection to combat security and digital anti-counterfeiting loopholes. REV3AL technology assures industry-leading security standards while at cost-effective price ranges.
