In an age where everything is supplemented with a digital service in one kind or another, ecommerce has really kicked off. Now, stores do not need to open up shops and outlets all over the world to provide products and services to customers. With the help of a good ecommerce website and a good logistics company, any organization can open up its doors to a global customer base. Rakuten is one such ecommerce store. The largest in Japan, it has an active user base of over 90 million registered buyers.
Techrock: Authenticity in Global Commerce
Ecommerce comes with its own set of problems. With the potential customer only looking at pictures of products, he or she is always at a risk. The ordered product may not be up to the quality shown on the commerce platform and even be a counterfeit. The issue rises with the fact that global commerce means that customer and seller are across borders and even at the other ends of the planet. Reimbursement or other claims can be very tedious and hard to get.
This is where the Techrock platform jumps in. With a large demand of high quality Japanese products in China, there is a huge pool of customers and consumers that are seeking out good and authentic product, but have been unable to do so. Even if one is able to, the process of ensuring that the product is authentic and not counterfeit is very hard- at times impossible.
Techrock is a blockchain platform that offers the advantages of blockchain to ensure the products are authentic. Using the immutable nature of the technology, each product on sale is additionally given a unique NFC tag. NFC, or near field communication is a technology in which information is stored in a very small device, not much bigger than a postage stamp and only a few paper pages thick. The devices carries no power of its own, but is activated when a NFC tag reader comes in range.
Techrock pairs the NFC technology with blockchain. Each tag has a unique identification that is paired with the product. The information of the product is then uploaded on the blockchain. A customer can simply scan the NFC tag and check out the details and authenticity on the blockchain. Since blockchain data is not editable, the information is permanent and stored forever. This gives customers the satisfaction that they have actually gotten what they paid for. The user also does not need any special equipment to verify the product. Today, most modern smartphones are equipped with NFC technology. The user only needs to download the Techrock application and tap his or her mobile phone with the NFC tag. The application reads the data stored in the tag and displays it for the user. The user then can check if the information matches with the product and ensuring its authenticity.
Another advantage that Techrock provides over other traditional product authentication systems is that the system works online and offline, in both states. A user intending to verify the product does not necessarily need to be connected to the Techrock ecosystem.
The Tael (WABI) loyalty points are used to incentivize scanning, which assures the anti-counterfeit system’s collective security. This makes the loyalty system integral to their solution.
Rakuten and Techrock
Rakuten, the largest Japanese ecommerce platform has teamed up with Techrock to give Chinese consumers authentic Japanese products. For this, the Techrock platform has set up a dedicated zone, called the Rakuten Zone, where customers can buy Rakuten products and be at peace of mind on the product originality.
Vice Senior Manager of Rakuten and its Global Trading & Flagship Section, Ye Jianyou was excited about the partnering and said, “Techrock’s anti-counterfeit technology allows Chinese consumers to verify they have received a genuine Rakuten product, giving a unique value advantage for cross-border ecommerce. Together with Techrock, we can further develop blockchain traceability and work towards cross-ecosystem integration of our platforms’ loyalty points.”
Techrock CEO Alex Busarov was very enthusiastic of the collaboration and said, “We’re very excited to be able to provide millions of Chinese consumers with Rakuten’s high-demand, quality Japanese products, and work together to improve cross-border ecommerce as it exists now.”
This collaboration is only the start, with both the platforms intending to integrate each other services as time passes.
Rakuten is the largest ecommerce platform in Japan serving over 90 million users and providing top notch quality products. The platform generates over 1 million Yen annually and employs 10 thousand employees. The ecommerce giant is the third largest in the world, providing a wide variety of products and services, such as travel, banking, online marketing, sports related stuff and even securities.