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Two Brothers Disrupt the Counterfeit Economy with Blockchain Start-up Seal Network

February 25th 2018, marks the pre-ICO launch of blockchain powered product authentication and services platform Seal. This Amsterdam start-up enables anyone to verify if a product is genuine or fake. Bart & Joris (founders) share: “We come from a family of creators. Our mother frequently saw her products get imitated, so we know first hand how devastating the impact of counterfeiting is. “Our family suffered.” Seal combines NFC chips, which are embedded into physical products, the Seal app, and the Seal Network to provide a fast, simple, and secure way to provide products authenticity and other services.

By facilitating a secure tokenized version of a physical product, Seal allows product-specific services to operate such as transferring ownership, theft prevention, product recalls, brand activation campaigns, product analytics and custom integration with third-party software, like the brands’ own app or e-commerce sites. In addition to solving the counterfeiting conundrum, Seal lets brands deal with parallel trade and midnight shifting once and for all.

Counterfeiting Fuels Organized Crime

Seal Network was founded by Bart and Joris Verschoor, two brothers who spent a lifetime developing products and technology. Bart shares: “Our family suffered from it, but the real impact is far more insidious. Counterfeiting fuels organized crime on a massive scale. It’s the single biggest source of funding for crime rings, terrorism, and cartels. Buying knockoffs are perceived an innocuous crime, but that Michael Kors wallet from your local street market or that fake iPhone charger from Alibaba might be funding the next attack like the London Subway or 9/11.”

Disrupting the Counterfeit Economy

Seal Network is designed for adoption by brands. Its business model allows brands to charge fees for services. For the first time in history, brands can earn money from items sold through the second hand trade, while simultaneously protecting their markets from counterfeiters. Every time products change hands, the brand earns a fee, turning their products into revenue streams. This offsets the costs of equipping the products with NFC-chips while providing a lucrative revenue stream where brand monetizes their authenticity. By using the power of the blockchain, authenticity can be checked and ownership can be transferred decades from now, even if the product itself is discontinued, as long as people contribute to the decentralized Seal network.

The Blockchain Revolution in the Palm of your Hands

Whether products are sold in stores or on the second hand market, people can purchase goods with confidence again. Seal brings all the benefits of the blockchain revolution into the physical world. It puts the power of the blockchain into the hands of people. When asked what the vision for Seal is, Bart explained: “The ultimate ambition of Seal? To become the currency of authenticity, where products can be paid in full with Seal. Using Seal to pay for products provides both buyer and seller a guaranteed exchange of goods that are simply impossible with FIAT currencies. The powerful properties of Seal and its functionality as a medium of exchange are a giant leap forward because it is optimized to securely settle the exchange of physical goods.” The start-up is a tribute to all the creators in the world, who work incredibly hard to make the products we all love so much. They’ve dedicated their lives to improve those all around the world. Now it’s time to return the favour. Seal aspires to ignite a renewed appreciation for the world’s most beloved and worthwhile brands. Out of love for creation.

About Seal:

Seal enables anyone to verify the authenticity of their favourite products. They want to bring back confidence to consumers and allow for brands to interact with their most heavily vested customers in the most direct way the internet has ever seen. They are building a better world in which consumers appreciate the creative work of makers and stop feeding the counterfeit economy and its disastrous effects on the world.

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

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Bitcoin Price Watch: Is the Recent Drop Part of a Bigger Picture?

At press time, bitcoin is retaining its $6,100 price from yesterday. The currency fell to this position from $6,700 after Japan’s Financial Services Agency (FSA) sent notifications to more than five digital currency exchanges saying that they must heighten their security measures against money laundering after noticing weaknesses in their infrastructures. Bitcoin has continued to suffer drops over the past week. Its initial slump to $6,700 occurred after hovering at the $7,600 mark for some time, and now the price is just $100 away from its February low. While bitcoin did drop below $6,000 during yesterday’s evening hours, things didn’t last, and the coin quickly pushed itself back up to $6,100, where it has been ever since. Bitcoin has allegedly lost over 70 percent of its value since December, when it managed to strike near the $20,000 range. However, many analysts are unconcerned about the currency’s recent behavior, saying it’s all part of a downward trend that was predicted long ago. Digital currency investor Marius Rupsys, for example, has consistently mentioned this idea, stating that while bitcoin pushes steadily lower, the question remains regarding when “big investors will come back.” “Retail traders might be actively buying and selling, but their volumes aren’t sufficient to move the market significantly to either side,” he comments. “’Wait and see’ is for larger investors, who try to get into crypto assets using OTC.” He added: “The volume is going down consistently on all major exchanges (i.e. Bitfinex), so this sell pressure is reducing as less and less people are willing to sell. I am waiting for volume to pick up, which is likely to push the price upwards given sellers sold and new investors want to get in, though it is very difficult to know when that will happen. Therefore, my position is to wait for price action with volume.” Other analysts, however, aren’t so sure, and predict a case of the old gloom-and-doom for bitcoin should the currency fall any lower. Publisher of the newsletter Crypto Patterns Jon Pearlstone, for example, states: “If bitcoin breaks the 2018 lows, watch for a spike in volume and a possible fast drop in price towards the $5,000 level.” Bitcoin is not alone in its demise. The currency is joined by entities like Litecoin – which has struck its lowest point in roughly seven months – and ether, which is currently trading at $479 – about 60 percent lower than its all-time high last December. Overall, the cryptocurrency market has crashed, falling to about $259 billion at press time from $813 billion (almost $1 trillion) last year. Figures like Phillip Nunn – CEO of the Manchester-based financial firm Blackmore Group – are sticking to their guns that bitcoin will reach new heights by the end of the year. Nunn is certain that bitcoin will strike $60,000 by the time 2018 closes, and despite the massive drops, we can’t help but consider bitcoin’s behavior last year, when it rose from $5,000 to nearly $20,000 in just one month between November and December. Could the currency do something extraordinary like that again before things tumble further? Nothing’s impossible, we suppose…. Bitcoin Charts by TradingView

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