I believe that blockchain technology is a fantastic tool in the battle against counterfeit goods, and the combination of NFC chips and an easy-to-use and widely distributed app that can verify the authenticity of a specific product is a natural fit. I also appreciate the value-add of being able to easily alert your customers of product recalls. Furthermore, being able to target marketing directly to the current owner of the product, as opposed to marketing to the original purchaser (who very well may have resold the product) is a fantastic idea.

What I do not understand is why KYC needs to be brought into the mix. This has drastic privacy implications - for example, I love the idea of having a way to easily verify the medication I have purchased is an authentic product...But if I am required to attach my name or other PII to that purchase (say for a medication that treats STD's) I would stay as far away from it as possible.