Blockchain and Distribution ledger technology to verify the authenticity of luxury goods / sneakers in the secondary market

Instructions

Hi,My coursework is to discuss the possibility to apply Distribution ledger technology (DLT) and Blockchain to the secondary market to let buyer and seller both benefit from the chain. For the seller side, we should expect less fake product on the market. Distribution of product will be more transparent. Also can protect business from damaging by fake product etc. And for the buyer side, we can always ensure our product receive is 100% authentic which can increase the shopping confidence.So in my paper, I want to first discuss how costly is current world spending resource of verifying product authenticity. For example, some secondary luxury bag seller need to employ huge amount of employee with verified certificate. Many of the sneakers website are fake and customers has no confidence on shopping at all. Even some professional mistakenly verifying some products etc. We can also introduce some ideas of how huge is fake product exist for example Taobao in China.Then we can come up with some DLT and Blockchain to solve this issue.Above is just my brief idea, please feel free to let me know if anything you want to discuss.Finson

Answer

Blockchain Distributed Ledger Technology in Verifying and Authenticating Luxury Goods The demand for luxury products has always been influenced by the customer's emotion, authenticity relationship, and the client-brand inclusivity. Indeed, the secondary luxury goods are becoming conventional across the globe as the acceptance of these pre-owned products widely intensifies. Their demand is up-surging so that both the traditional firms such as Neiman Marcus are today joining the arena. Similarly, companies such as The RealReal, Fashionphile, and StockX are utilizing their online marketplaces to resale second-hand goods and sneakers. However, despite global growth, the market for pre-owned luxurious goods needs to address the problem of counterfeited products and acquired merchandise. Blockch...
To avoid plagiarism, part of the answer is hidden. Click on the button below to order the full answer.
Order Answer Back
Price Calculator
Manage orders
Why we are Ranked the best
  • Unlimited Revisions
  • Free 24/7 Support and chat
  • Money back guaranteed
  • Low prices with discounts
  • Experienced writers.
  • Free Unlimited support

Hear from our customers

Get a quote Chat with support Find an expert Frequently asked questions