Blockverify: Difference between revisions
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'''Blockverify''' is a startup that provides [[blockchain]]-based anti-[[counterfeit]] solutions mainly to customers in the [[supply chain]] industry. The company, which was founded by Paul Tanasyuk and Pavlo Tanasyuk in 2015,<ref>UK Tech (2021-06-04). "These are the most funded cryptocurrency startups in the UK right now". UKTN. [https://www.uktech.news/news/these-are-the-most-funded-cryptocurrency-startups-in-the-uk-right-now-20210604]</ref> allows its users to track high-value goods throughout the supply chain in the hopes of delivering authentic products to its consumers.<ref name=Thompson>Thomson, Andrew (2015-09-27). "Using The Blockchain To Fight Crime And Save Lives". TechCrunch. Retrieved 2025-10-01</ref><ref>Bheemaiah, Kariappa (2017). The Blockchain Alternative: Rethinking Macroeconomic Policy and Economic Theory. Apress. p. 68. ISBN 978-1-4842-2674-2</ref> | |||
The Blockverify technology can be used for different products in order to track the diversion of goods and fraudulent transaction.<ref>Dave, Chintan (2024). Security Challenges with Blockchain: Navigate Blockchain Security Challenges, Unveil Vulnerabilities, and Gain Practical Strategies for Secure Application Development. Orange Education Pvt Limited. ISBN 978-81-968620-9-1</ref> | |||
The Blockverify technology can be used for different products in order to track the diversion of goods and fraudulent transaction.<ref> Dave, Chintan (2024). Security Challenges with Blockchain: Navigate Blockchain Security Challenges, Unveil Vulnerabilities, and Gain Practical Strategies for Secure Application Development. Orange Education Pvt Limited. ISBN 978-81-968620-9-1</ref> | |||
==BlockVerify technology== | ==BlockVerify technology== | ||
According to the company founders, manufacturers lose billions of dollars as high-value products such as [[medicine]], [[luxury goods|luxury items]], [[diamond]]s, [[electronics]], [[music]], and [[software]] are counterfeited.<ref name=gupta> Gupta, Shibakali; Banerjee, Indradip; Bhattacharyya, Siddhartha (2019). Big Data Security. Walter de Gruyter GmbH & Co KG. ISBN 978-3-11-060596-9</ref> Security companies use various technologies to address this issue in the block chain. Blockverify addresses this problem through its supply chain management solution based on blockchain by preventing duplicate appearances.<ref> Widjaja, Mr Gunawan; Upadhayaya, Niraj; Keshta, Ismail; Byeon, Dr Haewon (2023-09-18). Blockchain fundamentals core and concepts and decentralized ledger technology. Xoffencerpublication. ISBN 978-81-19534-30-2. p. 8</ref> The company uses its own private blockchain in its recording procedures but is also capable of using other blockchains such as [[Bitcoin]]. <ref name=gupta/> Through a decentralized platform, its technologies can be seamlessly integrated with existing supply chain processes.<ref name= Vizologi > | According to the company founders, manufacturers lose billions of dollars as high-value products such as [[medicine]], [[luxury goods|luxury items]], [[diamond]]s, [[electronics]], [[music]], and [[software]] are counterfeited.<ref name=gupta>Gupta, Shibakali; Banerjee, Indradip; Bhattacharyya, Siddhartha (2019). Big Data Security. Walter de Gruyter GmbH & Co KG. ISBN 978-3-11-060596-9</ref> Security companies use various technologies to address this issue in the block chain. Blockverify addresses this problem through its supply chain management solution based on blockchain by preventing duplicate appearances.<ref>Widjaja, Mr Gunawan; Upadhayaya, Niraj; Keshta, Ismail; Byeon, Dr Haewon (2023-09-18). Blockchain fundamentals core and concepts and decentralized ledger technology. Xoffencerpublication. ISBN 978-81-19534-30-2. p. 8</ref> The company uses its own private blockchain in its recording procedures but is also capable of using other blockchains such as [[Bitcoin]].<ref name=gupta/> Through a decentralized platform, its technologies can be seamlessly integrated with existing supply chain processes.<ref name= Vizologi >{{Cite web|url=http://vizologi.com/business-strategy-canvas/blockverify-business-model-canvas/|title=Blockverify business model canvas|website=Vizologi | rethinking business model design}}</ref> | ||
Example applications include the capability of the company to enable its users to verify the authenticity of medications by scanning [[QR code]]s.<ref> Alberts, Johnnie. Crypto: What Bitcoin, XRP, and Other Cryptocurrencies Will Be Worth. Dedona Publishing </ref> Blockverify – through this capability - helps combat the international trade of counterfeit drugs, which cost more than $200 billion annually.<ref name=Thompson/> | Example applications include the capability of the company to enable its users to verify the authenticity of medications by scanning [[QR code]]s.<ref>Alberts, Johnnie. Crypto: What Bitcoin, XRP, and Other Cryptocurrencies Will Be Worth. Dedona Publishing</ref> Blockverify – through this capability - helps combat the international trade of counterfeit drugs, which cost more than $200 billion annually.<ref name=Thompson/> | ||
To track items along the chain, the company developed its own Block Verify tags.<ref> Halak, Basel (2021). Authentication of Embedded Devices: Technologies, Protocols and Emerging Applications. Springer Nature. p. 119. ISBN 978-3-030-60769-2</ref> Blockverify uses this proprietary technology to tag products in order to link physical assets to the blockchain. A manufacturer can enter its product in the blockchain as an asset. An asset added to the blockchain is assigned a unique hash. Those who has the hash can access the blockchain and verify if the product is a counterfeit or valid. <ref name=gupta/> Such verification may be done using a mobile phone, allowing the large-scale verification of goods and at the point of delivery.<ref name=Thompson/> The identity attributed to products in the blockchain are made accessible to everyone.<ref> Alberts, Johnnie. Cryptocurrency: Recognize Scams, Investment Opportunities, and Bitcoin Trading Techniques (2 in 1). Dedona Publishing </ref> Manufacturers can monitor the flow of their products through the Blockverify platform. These highlights | To track items along the chain, the company developed its own Block Verify tags.<ref>Halak, Basel (2021). Authentication of Embedded Devices: Technologies, Protocols and Emerging Applications. Springer Nature. p. 119. ISBN 978-3-030-60769-2</ref> Blockverify uses this proprietary technology to tag products in order to link physical assets to the blockchain. A manufacturer can enter its product in the blockchain as an asset. An asset added to the blockchain is assigned a unique hash. Those who has the hash can access the blockchain and verify if the product is a counterfeit or valid.<ref name=gupta/> Such verification may be done using a mobile phone, allowing the large-scale verification of goods and at the point of delivery.<ref name=Thompson/> The identity attributed to products in the blockchain are made accessible to everyone.<ref>Alberts, Johnnie. Cryptocurrency: Recognize Scams, Investment Opportunities, and Bitcoin Trading Techniques (2 in 1). Dedona Publishing</ref> Manufacturers can monitor the flow of their products through the Blockverify platform. These highlights BlockVerify's contribution as a blockchain technology since its services introduce transparency to supply chains.<ref>Casino, Fran; Dasaklis, Thomas K.; Patsakis, Constantinos (2019-03-01). "A systematic literature review of blockchain-based applications: Current status, classification and open issues". Telematics and Informatics. 36: 55–81. doi:10.1016/j.tele.2018.11.006. ISSN 0736-5853</ref> | ||
Blockverify's system is capable of tracking products, determining if they have been diverted from their original destination or were stolen.<ref name=Thompson/> It has also developed technology that allows the verification of ownership. Product ownership becomes an issue as products ownership changes, which can be tracked through Blockverify's technology. Such technology also prevents fraudulent activities such as the duplication of records and making unauthorized changes.<ref name=gupta/> | |||
Blockverify generates revenue via a subscription-based model while prices of offered technologies are determined by the volume of products tracked and the complexity of the supply chain.<ref name= Vizologi/> | Blockverify generates revenue via a subscription-based model while prices of offered technologies are determined by the volume of products tracked and the complexity of the supply chain.<ref name= Vizologi/> | ||
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[[Category:American companies established in 2015]] | |||
[[Category:Blockchains]] | [[Category:Blockchains]] | ||
[[Category: | [[Category:Technology companies established in 2015]] | ||
[[Category:Technology companies of the United States]] | |||
Latest revision as of 02:52, 1 October 2026
Blockverify is a startup that provides blockchain-based anti-counterfeit solutions mainly to customers in the supply chain industry. The company, which was founded by Paul Tanasyuk and Pavlo Tanasyuk in 2015,[1] allows its users to track high-value goods throughout the supply chain in the hopes of delivering authentic products to its consumers.[2][3]
The Blockverify technology can be used for different products in order to track the diversion of goods and fraudulent transaction.[4]
BlockVerify technology
According to the company founders, manufacturers lose billions of dollars as high-value products such as medicine, luxury items, diamonds, electronics, music, and software are counterfeited.[5] Security companies use various technologies to address this issue in the block chain. Blockverify addresses this problem through its supply chain management solution based on blockchain by preventing duplicate appearances.[6] The company uses its own private blockchain in its recording procedures but is also capable of using other blockchains such as Bitcoin.[5] Through a decentralized platform, its technologies can be seamlessly integrated with existing supply chain processes.[7]
Example applications include the capability of the company to enable its users to verify the authenticity of medications by scanning QR codes.[8] Blockverify – through this capability - helps combat the international trade of counterfeit drugs, which cost more than $200 billion annually.[2]
To track items along the chain, the company developed its own Block Verify tags.[9] Blockverify uses this proprietary technology to tag products in order to link physical assets to the blockchain. A manufacturer can enter its product in the blockchain as an asset. An asset added to the blockchain is assigned a unique hash. Those who has the hash can access the blockchain and verify if the product is a counterfeit or valid.[5] Such verification may be done using a mobile phone, allowing the large-scale verification of goods and at the point of delivery.[2] The identity attributed to products in the blockchain are made accessible to everyone.[10] Manufacturers can monitor the flow of their products through the Blockverify platform. These highlights BlockVerify's contribution as a blockchain technology since its services introduce transparency to supply chains.[11]
Blockverify's system is capable of tracking products, determining if they have been diverted from their original destination or were stolen.[2] It has also developed technology that allows the verification of ownership. Product ownership becomes an issue as products ownership changes, which can be tracked through Blockverify's technology. Such technology also prevents fraudulent activities such as the duplication of records and making unauthorized changes.[5]
Blockverify generates revenue via a subscription-based model while prices of offered technologies are determined by the volume of products tracked and the complexity of the supply chain.[7]
References
- ↑ UK Tech (2021-06-04). "These are the most funded cryptocurrency startups in the UK right now". UKTN. [1]
- ↑ 2.0 2.1 2.2 2.3 Thomson, Andrew (2015-09-27). "Using The Blockchain To Fight Crime And Save Lives". TechCrunch. Retrieved 2025-10-01
- ↑ Bheemaiah, Kariappa (2017). The Blockchain Alternative: Rethinking Macroeconomic Policy and Economic Theory. Apress. p. 68. ISBN 978-1-4842-2674-2
- ↑ Dave, Chintan (2024). Security Challenges with Blockchain: Navigate Blockchain Security Challenges, Unveil Vulnerabilities, and Gain Practical Strategies for Secure Application Development. Orange Education Pvt Limited. ISBN 978-81-968620-9-1
- ↑ 5.0 5.1 5.2 5.3 Gupta, Shibakali; Banerjee, Indradip; Bhattacharyya, Siddhartha (2019). Big Data Security. Walter de Gruyter GmbH & Co KG. ISBN 978-3-11-060596-9
- ↑ Widjaja, Mr Gunawan; Upadhayaya, Niraj; Keshta, Ismail; Byeon, Dr Haewon (2023-09-18). Blockchain fundamentals core and concepts and decentralized ledger technology. Xoffencerpublication. ISBN 978-81-19534-30-2. p. 8
- ↑ 7.0 7.1 "Blockverify business model canvas". http://vizologi.com/business-strategy-canvas/blockverify-business-model-canvas/.
- ↑ Alberts, Johnnie. Crypto: What Bitcoin, XRP, and Other Cryptocurrencies Will Be Worth. Dedona Publishing
- ↑ Halak, Basel (2021). Authentication of Embedded Devices: Technologies, Protocols and Emerging Applications. Springer Nature. p. 119. ISBN 978-3-030-60769-2
- ↑ Alberts, Johnnie. Cryptocurrency: Recognize Scams, Investment Opportunities, and Bitcoin Trading Techniques (2 in 1). Dedona Publishing
- ↑ Casino, Fran; Dasaklis, Thomas K.; Patsakis, Constantinos (2019-03-01). "A systematic literature review of blockchain-based applications: Current status, classification and open issues". Telematics and Informatics. 36: 55–81. doi:10.1016/j.tele.2018.11.006. ISSN 0736-5853