Tungky
Real-World Assets on the Blockchain
Created on 3rd August 2025
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Tungky
Real-World Assets on the Blockchain
The problem Tungky solves
Indonesia faces a massive counterfeiting crisis, costing up to Rp 291 trillion (~$20B USD) annually. Consumers are routinely deceived into buying fake goods — from fashion and cosmetics to electronics and supplements — without any reliable way to verify authenticity.
Tungky solves this by making authenticity verification simple, scalable, and secure using blockchain and NFT-based technology.
✅ With Tungky, users can:
- UMKM & Brands: Mint a verifiable certificate for every product they sell, ensuring originality.
- Buyers & Collectors: Instantly check product authenticity before purchasing.
- Marketplaces & Logistic Partners: Integrate with Tungky to flag verified items and reduce counterfeit listings.
By automating the issuance of digital proof and simplifying verification with QR/NFC or blockchain explorers, Tungky makes trust in commerce not just possible, but easy — especially for Indonesia's 30M+ micro-businesses.
Challenges I ran into
🧩 Challenges I Ran Into
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Abstracting Wallets for Non-Crypto Users
Most UMKM and general users aren’t familiar with crypto wallets or gas fees. Asking them to manage private keys or MetaMask was a dealbreaker.
→ Solution: We implemented Account Abstraction (ERC-4337) so users interact with the platform like a regular app, while the wallet is managed invisibly behind the scenes. -
Gas Fee Management at Scale
Frequent minting on-chain can be costly and unpredictable, especially for small brands with high product volume.
→ Solution: We batch minting operations and subsidize gas fees using a relay network, supported by a token-based tier system. Brands get a quota through subscription, and only pay extra when limits are exceeded. -
Integrating with Real-World Marketplaces
We needed to design a way to integrate verification into Shopee, Tokopedia, and offline sales without their cooperation (initially).
→ Solution: We provide a lightweight Tungky Plugin/API for storefronts, plus generate public links and QR/NFC stickers that prove authenticity independently of any specific platform.
this link for our presentation:
https://www.canva.com/design/DAGu10xchj0/MeiqsgnB6RoaqulPi_nppA/edit?utm_content=DAGu10xchj0&utm_campaign=designshare&utm_medium=link2&utm_source=sharebutton
Tracks Applied (1)
The Binary Holdings
The Binary Holdings
Technologies used
