In a world where sophisticated fakes flood the market, Touch Point Worldwide is exploring a novel way of providing consumers with an additional layer of trust. The company's new system, Touch Point Authenticator, detailed under patent number US11720906B2, proposes a handy solution with the help of blockchain technology.
In layman's terms, blockchain technology is like a digital ledger that stores data, making it virtually impossible for anyone to tamper with that data. Applying this technology to consumer goods, the Touch Point Authenticator wants to empower consumers to authenticate products themselves instantly.
When you're out shopping for that super cool toy or that trendy backpack and want to verify if it's a real deal, you would simply scan a code on the item with the Touch Point Authenticator. The system then matches the information with its secure blockchain.
As per the patent application, not only could this new state-of-the-art system confirm if an item is genuine, it could also provide interesting information about the product. From its origin to whether it was made with sustainable materials to the method of its manufacture – all at a tap of your finger, making your shopping trips more informed.
According to Touch Point Worldwide, it could even address the issue of counterfeits entering the market. Figures shared by the company depict a networked system, a product verification module, an electronic token, a token transaction ledger and a schematic view illustrating a tokenization process for a product, perhaps giving us a glimpse of how this technology might work.
The benefits this new system could provide are numerous. Notably, the overall cost of deployment and upkeep of this authenticating platform could be significantly lower. Furthermore, it might provide companies with a secure platform to showcase transparency regarding their product details to their customers.
However, it is important to remember that this is only a patent for now. While this Touch Point Authenticator sounds promising, and might just be the big break in vindicating product authenticity we've been waiting for, we cannot guarantee if it will ever hit the shelves. After all, the journey from patent office to market shelf can often be a long and unpredictable one. But for now, Touch Point Worldwide has taken the first step towards a potentially revolutionary solution in the fight against counterfeits.