Devery Protocol is a new product verification protocol that will authenticate the availability and legitimacy of products sold online . For more details read the article “Devery : A Protocol For Verification Services “
Why is Devery The Future ?
Imports of pirated and counterfeit goods are approximately half a trillion dollars a year or around 2.5% of worldwide imports this was claimed in a 2016 joint report by the Organization for Economic Co-operation and Development (OECD) and EU Intellectual Property Oﬃce (EUIPO)
These numbers are gradually increasing each year, this concerns all countries with the United States and Europe aﬀected mostly by the impact of counterfeit goods. The OECD Deputy Secretary-General, Doug Frantz, states:
“The ﬁndings of this new report contradict the image that counterfeiters only hurt big companies and luxury goods manufacturers. They take advantage of our trust in trademarks and brand names to undermine economies and endanger lives”
Counterfeit goods and pirated items are a great risk to the companies and the consumers both , surprisingly counterfeit items that have been recovered vary from luxury goods such as purses , watches and perfumes to fake products like shampoos , medicine , food additives that can endanger lives because the fake products have no check on them , toys that are made from bad material and may harm the child if he puts it in his mouth , pharmaceuticals that do no treat the illness as it should ,a baby formula that contains harmful substances that may prove poisonous for the baby , auto parts that may fail mid use and medical equipment that may provide inaccurate data thus endangering the life of the patient . Why the counterfeit market has thrived has two primary reasons , one , that It is hard and costly to track products that is transported through complex trade routes where there are free trade zones and if there is weak governance then there won’t be any check at all , second , these counterfeit products are crafted to be identical if not exact copy of the original and the consumers are unable to differ between the fake and the original until they have used it for themselves .
Who Will Benefit From Devery ?
Devery is made for the market i.e to authenticate product legitimacy . Three key players of the market become victim to piracy .
The seller either the supplier , retailer or otherwise relies heavily on product quality and brand name .
As the OECD states:
“The essential component that the commercial supply of counterfeit products relies on is ’free riding’ on the economic value associated with a given intellectual property right”
Counterfeit Products destroy the brand name and intellectual property of sellers, ultimately destroying the overall reputation and proﬁts of a business.
The purchaser suffers the ultimate consequence , either the product does not perform according to it’s reputation or in extreme cases might even prove harmful. There is no easy way of differentiating between a legitimate product and a fake one and that too right on the spot . The consumer will eventually loose trust for the market and said item . Devery’s role here will help the consumer determine if the product he is purchasing is legitimate or not , hence the need for blind trust is eliminated and the consumer ideally takes the matter in his own hands .
Law enforcement authorities play the role of the mediator and are tasked with confiscating and preventing manufacture of counterfeit goods. They are constantly faced with exceedingly high costs in order to either track or investigate the movement, obtaining and sale of such items. With Devery this so called difficult task will be a breeze and done with a push of a button.
Release Schedule Of Devery
Q4 2017: Complete – Devery Protocol alpha First version of the Devery protocol is going to be released.
Q4 2017: Token sale will begin to commence .
Q1 2018: Exchange listings will be made.
Q1 – 2 2018: On board partners and trial customers will Trial software with pre-existing and new partnerships.
Q 3 2018: Release of version 1.0 of the Devery Protocol.
2019+ : Expansion into more partnerships and the developing of veriﬁcation applications for interested markets.
Regarding Token Sale
The Devery.io is going to be selling 60,000,000 EVE tokens out of a total of 100,000,000 for a raise of $10,000,000 USD . The pre-sale will begin on the 14th of this month i.e December 2017 and will be requiring a 20 Ethereum minimum contribution. The pre-sale is going to provide a 5% bonus . The crowd-sale is going to take place on the 12th of January 2018, however , it is scheduled to end on February 2018 or if the cap is reached . All tokens that remain after the sale will be burned and all purchased tokens will be distributed one week after the sale has ended .
The Devery Protocol Team
Andrew Rasheed – Product and Operations
Antoine Najjarin – Partnerships and Strategy
Chironjit Das – Finance and Community
Bok Khoo – Technical Advisor
Dorjee Sun – Strategy and Logistics Advisor COO of Santiment.net
Alex Trottier – Retail and Supply Chain Advisor
John Shi-Nash – General Advisor