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Gxt - Authenticity

: A Decentralized Application to identify and reduce Counterfeited goods in the ecommerce industry and post supply chain.

G

Gxt - Authenticity

: A Decentralized Application to identify and reduce Counterfeited goods in the ecommerce industry and post supply chain.

The problem Gxt - Authenticity solves

The internet has made our lives easier and more comfortable; however, you can become anyone or anything online- at least for a while. We have often heard stories about catfishing an individual. But it's not just people; even goods can be "catfished“. Sometimes people order a certain product from an online website and end up with lower quality products or, worse, something completely different. In the last several years, the cost of return deliveries has grown by 75%, reaching an estimated $550 billion in 2020. It is a waste of not only the time of the customer but also various resources and causes severe environmental issues.

Challenges I ran into

Counterfeiting products or catfishing products, as branded goods, is one of the most important and difficult issues to deal within national/international markets.
With the rapid development of e-commerce, it is clear that the development of anti-counterfeiting systems is urgently needed.
On the other hand, RFID (Radio Frequency Identification) has attracted a lot of attention as a key technology in the world of IoT (Internet of Things) for more than a decade because it can be used to detect counterfeit products.
Though it is operational, RFID Technology is not efficient and it has various flaws in its standards and its system.
The return rate for online purchases has increased by 74% in 2021 as a result of counterfeit goods, with clothing accounting for 42%.
Return of online purchases has adverse consequences on the environment as well as the ecommerce industry.
To overcome this issue, We propose developing a Decentralized application powered by smart contracts that can detect and reduce counterfeit goods in the e-commerce industry and the post-supply chain.

Literature survey:
Global e-commerce sales are expected to reach $5 trillion by the End of 2023 and $6 trillion by 2024.
Merchants continue to follow consumer demand online, with flocks of e-commerce in record numbers.
Online stores are popping up daily, with an estimated 12–24 million ecommerce sites across the globe.
It is estimated that trade in counterfeit goods is now worth more than 5 percent of world trade.
Up to 30% of all products ordered online become returns, placing an insurmountable burden on reverse logistics.
Only 54% of all packaging gets recycled, and an estimated 5 billion pounds of returned goods end up in landfills each year.
Packages leave a trail of pollution, and some end up in landfills.
Every year the e-commerce industry generates 84 million tons of carbon emissions due to product returns.
In which, counterfeited products accounts for over 42% of it.

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