Idea & token
Devery are developing a protocol, a distributed platform and an API, all of which allow brands, manufacturers and retail companies to assign unique IDs to goods sold online. These IDs make it easier to track goods and minimize instances of counterfeits. The protocol permits usage of NFC, RFID, Barcode and QR technologies. Using Devery, developers are able to implement product authenticity verification functions without the need to delve into specifics of blockchain-technology.
Devery has announced the release of EVE (Entry Verification Engine) tokens, which are planned to e used as currency to pay for verification.
The company’s founder is Andrew Rasheed. He represents the core web and blockchain experience on the team. In the past Andrew took part in creating the Ethstall.com online store, as well as CoinWatch TouchBar. Descriptions given of the experience of Antoine Najjarin and Chironjit Das are quite brief, leaving us with the knowledge that Antoine is responsible for strategy and partnerships, while Chironjit brings certain retail work experience from his time at Tesco.
Fighting counterfeit goods by recording every product unit on the blockchain is one of today’s trends. You may have read our review on a project from a similar field (Wabi), which raised $10 million from ICO investors in less than 24 hours.
Obviously, regular consumers are in need of guarantees of authenticity of goods that they order over the Internet. However, is a protocol alone sufficient for that? Doubtful.
The project’s more readily apparent flaws in our opinion are lack of focus and weak grasp of the issue at hand. The brevity of the White Paper (just 11 pages) seems to demonstrate the team is at the very start of their path. Against the backdrop of competition – specialized anti-counterfeit solutions that have already begun development of products for pharmaceuticals, consumer and luxury-goods, and have identified specific scenarios for those markets, Devery’s less detailed approach seems less convincing.
With that said, our opinion is that you shouldn’t rush into this one, and instead wait for a more outstanding representative of anti-counterfeit solutions.