STOP THE FAKE: the world’s first decentralized service designed to detect counterfeiting and infringement of intellectual property rights, copyright, and related rights

ayamj (28)in #ico • 8 years ago (edited)

The Blockchain technology was initially developed to exclude the possibility of counterfeiting, changing or altering transactional information. Most transactions carried out in the world are related to the sale of goods and services. We want to enforce law and transparency on the global market and strive to provide small companies and private entrepreneurs with the same opportunities to fight counterfeiting that only big brands can afford now
Initially, cryptocurrencies were the prerogative of geeks, developers, and enthusiasts, which lead to the spread of numerous myths. To discard these misconceptions and deal with reliable, scientifically proven figures, all data on the cryptocurrency market presented in this document are taken from The Global Cryptocurrency Benchmarking Study, a research study by Dr. Garrick Hileman and Michel Rauchs, published by the Cambridge University in April 2017. VISA helped these researchers in their work. Data from other sources is indicated separately. Currently, the number of active cryptocurrency wallet users varies from 2,900,000 to 5,800,000 people all over the world. They own 5,800,000 to 11,500,000 wallets.
FUTURE DIRECTIONS FOR THE CRYPTOCURRENCY MARKET
Given the spectacular growth of the cryptocurrency market, most growth forecasts are highly optimistic. Although some financial analysts have been talking about the “bubble that is about to explode” since the very first exchange of Bitcoin for fiat currency, the number of skeptics is decreasing from day to day. An article by Robert Hackett, published in Fortune, a magazine specializing in economics, is the most popular of all the forecasts related to the future of the cryptocurrency market. The author interviewed seven renowned experts, such as Elena Kvochko, Head of Global Information Security Strategy and Implementation at Barclays, or Nicko van Someren, Chief Technology Officer at Linux Foundation. These specialists agreed that Blockchain technology is a decentralized securityenhanced solution most suitable for financial transactions. Many of them are simple solutions, while others are fully functioning, powerful, plain in terms of design and, most importantly, cost-efficient. Rather, this innovative solution will save a lot of money, time and effort compared to existing technologies. Its implementation will speed up some processes or slow them down to zero, saving this sector much of its current expenditures. Today, this technology is still at its nascent stage. It has great potential, but the industry is only getting ready for its full integration into the current financial system. Some existing cryptocurrencies are likely to go down in price or will leave the market altogether. However, many new promising tokens will appear at the same time
WHAT IS STOP THE FAKE
StopTheFakes is a Blockchain-based decentralized service aiming to detect counterfeiting and infringement of intellectual property rights, created on the Ethereum smart contract platform. Blockchain technology has been implemented by using the open source license. The project has its own token, which is the only method of payment within its framework. Our basic idea is to build a completely transparent and reliable system that could transfer data from users to right holders. We assume responsibility for providing the necessary infrastructure and bringing together those who want to learn about any infringement of their rights and those who can provide this information due to their geographic location or other factors. We assume responsibility for ensuring that customers remunerate providers and retain part of the remuneration as a commission fee. Tokens issued by us will be the only means of payment that customers will purchase for remuneration purposes. Their quantity is limited, and Blockchain technology principles guarantee protection against forgery. Ethereum’s smart contracts ensure the fulfillment of the commitments undertaken.
SHORT-TERM
To build a system that will destroy the multi-billion counterfeit market. The Blockchain technology was initially developed to exclude the possibility of counterfeiting, changing or altering transactional information. Most transactions carried out in the world are related to the sale of goods and services. We want to enforce law and transparency on the global market and strive to provide small companies and private entrepreneurs with the same opportunities to fight counterfeiting that only big brands can afford now.

HOW IT WORK