What problem does it solve?
Counterfeit products accounts for up to 2.5% of global trade with a potential cost of $500b. Finding a way to verify products would reduce this, creating improved revenue for the genuine products, increase public safety (counterfeit goods don't go through the same quality standards), and reduce revenue for criminal organisations.
How is it different to some of the supply chain tokens?
There are a number of supply chain tokens that have recently been gathering a significant amount of attention, all of which add value to supply chains if proven successful. They demonstrate that distribution from a manufacturer to a wholesaler has been successful, from a logistics company perspective this is a significant advantage. However at a consumer level, it is still difficult to assess an individual items legitimacy.
Let's take an example of children’s toys. A toy wholesaler can order this from the manufacturer and use one of the existing supply chain companies to track the order. The package arrives and they can be confident in its authenticity. This moves from wholesaler to retailer, potentially with some drop off in use of the supply chain tracking. Then into retailers where customers can view the product. Consumers may in this case be able to assess some of the supply chain, but potentially not all of it. Once this toy enters the second hand market (as they typically do) the ability to track this is completely lost.
Having a Devery tracking ID allows for products in both the primary and secondary markets to prove their legitimacy despite breaks in the supply chain tracking. This means that Devery is not competing with the supply chain tokens, but offering a complimentary service that works well with these products
Partnerships everywhere
One of the things that caught my eye about this project is the fact that they've announced a lot of partnerships with other successful projects lately:
Partnership with aXpire
aXpire Partners with Devery – aXpire – Medium
Partnership with Nuls
Nuls and Devery sign a strategic partnership in February 2018
Talks about partnerships with Latin American textile companies
Devery in partnership talks with Latin America Textile Industry | The Cryptocurrency News
Selected as JD.com's (largest online retailer in China) supply chain tracking partner
Devery selected as the part of the inaugural JD.com blockchain accelerator
Devery's sitting at .00026 ETH/unit on ED, up 50% over the last week, doubtless due in no small part to all these partnerships being revealed. Given what we (should have) learned about how hype works in the crypto market and how well the token's value has held up in this relatively bearish market, I'd say Devery is a pretty solid hodl over the next few months, especially given its miniscule marketcap (barely 10m).
What do you think, boys? Excited to get some discussion going in this forum.
Counterfeit products accounts for up to 2.5% of global trade with a potential cost of $500b. Finding a way to verify products would reduce this, creating improved revenue for the genuine products, increase public safety (counterfeit goods don't go through the same quality standards), and reduce revenue for criminal organisations.
How is it different to some of the supply chain tokens?
There are a number of supply chain tokens that have recently been gathering a significant amount of attention, all of which add value to supply chains if proven successful. They demonstrate that distribution from a manufacturer to a wholesaler has been successful, from a logistics company perspective this is a significant advantage. However at a consumer level, it is still difficult to assess an individual items legitimacy.
Let's take an example of children’s toys. A toy wholesaler can order this from the manufacturer and use one of the existing supply chain companies to track the order. The package arrives and they can be confident in its authenticity. This moves from wholesaler to retailer, potentially with some drop off in use of the supply chain tracking. Then into retailers where customers can view the product. Consumers may in this case be able to assess some of the supply chain, but potentially not all of it. Once this toy enters the second hand market (as they typically do) the ability to track this is completely lost.
Having a Devery tracking ID allows for products in both the primary and secondary markets to prove their legitimacy despite breaks in the supply chain tracking. This means that Devery is not competing with the supply chain tokens, but offering a complimentary service that works well with these products
Partnerships everywhere
One of the things that caught my eye about this project is the fact that they've announced a lot of partnerships with other successful projects lately:
Partnership with aXpire
aXpire Partners with Devery – aXpire – Medium
Partnership with Nuls
Nuls and Devery sign a strategic partnership in February 2018
Talks about partnerships with Latin American textile companies
Devery in partnership talks with Latin America Textile Industry | The Cryptocurrency News
Selected as JD.com's (largest online retailer in China) supply chain tracking partner
Devery selected as the part of the inaugural JD.com blockchain accelerator
Devery's sitting at .00026 ETH/unit on ED, up 50% over the last week, doubtless due in no small part to all these partnerships being revealed. Given what we (should have) learned about how hype works in the crypto market and how well the token's value has held up in this relatively bearish market, I'd say Devery is a pretty solid hodl over the next few months, especially given its miniscule marketcap (barely 10m).
What do you think, boys? Excited to get some discussion going in this forum.