Counterfeiting is a crime, involving the manufacturing or distribution of goods under someone else’s name, and without their permission. Counterfeit goods are generally made from cheap and lower quality component that put the health and safety of consumers at risk.
According to an International Chamber of Commerce, the total value of counterfeit and pirated goods globally is around €1.77 trillion. Each year EU companies lose €83 billion in sales due to counterfeited products. Although the counterfeiting has been a problem for decades, there is no effective solution that allows consumers to simply verify authenticity of products or for companies to effectively protect supply chains.
Cypheme introduces a counterfeit detection system that allows a consumer to determine if a product is an original branded product using only a cell phone camera. The system uses a combination of novel security features, including a micro-structured varnish that can only be read with an artificial intelligence technology developed by Cypheme to authenticate the product. Microguard is unique in the level of security it provides and its resistance to forgery by counterfeiters.