[ANN] Bonafi - Fights counterfeits using Blockchain and Crypto-Tag

[sk5895sk]

www.bonafi.io is on a mission to defend all brands and retailers big and small, and protect consumers from counterfeits by implementing a fail-safe authentication system using blockchain technology and cryptography enabled NFC tag, Crypto-Tag^TM.

PROBLEM: According to International Chamber of Commerce and a study done by Frontier Economics, it was estimated that the total global economic value of counterfeit and pirated goods was projected to be almost $1.8 Trillion by 2015.

TOTAL ADDRESSABLE MARKET SIZE: USD $600 Billion Annually according to Netnames report 2016.

SOLUTION:

• Crypto-Tag™ - Our Crypto-Tag™ does not run on battery. Once scanned by an NFC enabled mobile device, power is sent through the air and the Crypto-Tag™ will automatically authenticate the product.
• Mobile Application - The mobile application will be used by brands, retailers, and consumers to communicate with the Crypto-Tag™ and add additional data onto the blockchain.
• Blockchain - Genuine data for each individual item and the journey through the supply chain will be permanently recorded on the Blockchain, allowing anyone to verify the authenticity of the products.
• Tokens by Rewards- Manufacturers send tokens to reward the consumers who wishes to provide user reviews and feedback. This creates token demand and supply.

TEAM:

• Steve Kuh - Founder and CEO, Former CEO of IT technology firm in Digital Television for 22 years in Los Angeles.
• Dr. BM Lee - CTO/Korea, Former Founder of Tinnos Korea, 12 yrs, a manufacturer of automotive products for major Korean automotive company
• Abraham Kim- CMO, Digital PR and Marketing in fashion Industry.
• Daniel Kuh- Director of Arts, mobile App
• JJ Lee- Apps Developer, Adroid
• JS Lee- RF Antenna Engineer
• Lora Alexander- SEC Legal Counsel
• Craig Clayton- CFO Consultant
• Simon Cocking- Advisor, Senior Editor Irish Tech News
• David Drake- Advisor, Chairman LDJ Capital
• Joe Rubin- Advisor, VC
• Rachael McCrary- Advisor, Fashion Industry
• Roberto Mandrano- Advisor, Supply Chain and Corporate Operations

FINANCIALS: To be disclosed upon approval by the United States Security Exchange Commission

BASED: Los Angeles, CA, USA

 

[DiziSquare]

That sounds good! We definitely need to deal with counterfeit products, since it often doesn't work properly, and can also carry a danger to life and health.

[MaksonJoe]

How does the crypto-tag work? Is it a magnetic chip, or something like that? In which information about the product is encrypted?

[Nastenasl4stena]

How does the crypto-tag work? Is it a magnetic chip, or something like that? In which information about the product is encrypted?

Well ... as I understand it from a whitepaper - it's some light, inconspicuous tag that will contain encrypted information from the manufacturer, which will also be written on the blockchain. By enabling the application, we will be able to scan this tag and get the necessary information about the product.

[brussqett]

Hi guys, here's a link to the whitepaper, if you're interested: https://www.bonafi.io/wp-content/uploads/2018/05/bonafi_Whitepaper-v3.3.pdf

[Petramaxindoshka]

Hi guys, here's a link to the whitepaper, if you're interested: https://www.bonafi.io/wp-content/uploads/2018/05/bonafi_Whitepaper-v3.3.pdf

It seems to me that the topic is not up to the end. Thanks for the link!

[ukrainskaya-devaxa]

Hey guys. Here's some links to the pages in social networks!

Official site: https://www.bonafi.io/
Telegram: https://t.me/bonafi
Twitter: https://twitter.com/theBonafiCo
Facebook: https://www.facebook.com/BonafiBlockchainCompany/
Linkedin: https://www.linkedin.com/company/groupproject-io/

[fempat]

There are times when we need to order for goods online. Usually the cost of returning products one is not satisfied with is very high. How do you intend to enable customers to verify the authenticity of the products online?

[TomHurst]

Dates of pre-sale and the main sale?
What are the soft and hard cap?
What is the cost of the token? What currencies will you accept?

[RichardCrowford1965]

Dates of pre-sale and the main sale?
What are the soft and hard cap?
What is the cost of the token? What currencies will you accept?

Here's information from ICOBench:
PRE-ICO TIME
2018.09.10 - 2018.09.30
ICO TIME
2018.10.15 - 2018.11.12

[sk5895sk]

There are times when we need to order for goods online. Usually the cost of returning products one is not satisfied with is very high. How do you intend to enable customers to verify the authenticity of the products online?

Similar concept is applied to protect online buyers to show authenticity of the goods. More will be published next week. Stay tuned!!!

[Antonio.F]

Dates of pre-sale and the main sale?
What are the soft and hard cap?
What is the cost of the token? What currencies will you accept?

I found this information:

Ticker Symbol: BONAS
Platform: Ethereum (ERC20)
Accepts: ETH
Soft Cap: 3,000,000 USD
Hard Cap: 25,000,000 USD

[sk5895sk]

Dates of pre-sale and the main sale?
What are the soft and hard cap?
What is the cost of the token? What currencies will you accept?

Here's information from ICOBench:
PRE-ICO TIME
2018.09.10 - 2018.09.30
ICO TIME
2018.10.15 - 2018.11.12

We are currently working with the U.S. Security Exchange Commission to the conditions of the sale. We will be making an announcement soon. Stay tuned!!!

[blockchain-man]

For the purpose of protecting large and small brands and retailers and protecting consumers from counterfeit goods using Blockchain technology, the project has gained public attention. The project writes "Our Crypto-Tag ™ does not run on battery. After being scanned with NFC-enabled mobile devices, power is sent through the air and Crypto-Tag ™ automatically authenticates the product." In order to achieve the goal, the project needs to have many partners. Are you ready?

[Daniel-sweet]

Excellent system for creating supply and demand. So, I need to buy the goods and use the application? I'll spend my tokens, but for the feedback on work, you compensate for a certain number of tokens, right?

[sk5895sk]

Excellent system for creating supply and demand. So, I need to buy the goods and use the application? I'll spend my tokens, but for the feedback on work, you compensate for a certain number of tokens, right?

Right, the manufacturers would be motivated to receive the feedback reviews and post it on their sites. The manufacturers would be sending the  tokens as rewards.

[The-king]

Excellent system for creating supply and demand. So, I need to buy the goods and use the application? I'll spend my tokens, but for the feedback on work, you compensate for a certain number of tokens, right?

Right, the manufacturers would be motivated to receive the feedback reviews and post it on their sites. The manufacturers would be sending the  tokens as rewards.

Tell me, where will the manufacturers take the tokens? It's like some kind of closed eco-sphere ...

[sk5895sk]

Excellent system for creating supply and demand. So, I need to buy the goods and use the application? I'll spend my tokens, but for the feedback on work, you compensate for a certain number of tokens, right?

Right, the manufacturers would be motivated to receive the feedback reviews and post it on their sites. The manufacturers would be sending the  tokens as rewards.

Tell me, where will the manufacturers take the tokens? It's like some kind of closed eco-sphere ...

So, it works like this:

• 1. Bonafi sells the Crypto-Tag^TM to brands and manufacturers. When the manufacturer buys the tags, they also buy the tokens.
• 2. Manufacturer inserts the tag in their products, and the supply chain information is recorded on the blockchain
• 3. The consumers purchase the products and download the mobile phone App to scan the product
• 4. When the owner registrations or user feedback reviews are sent by the consumers, the manufacturer would send tokens to reward this engagement with the customer.

[Mila.Vitra]

So, it works like this:

• 1. Bonafi sells the Crypto-Tag^TM to brands and manufacturers. When the manufacturer buys the tags, they also buy the tokens.
• 2. Manufacturer inserts the tag in their products, and the supply chain information is recorded on the blockchain
• 3. The consumers purchase the products and download the mobile phone App to scan the product
• 4. When the owner registrations or user feedback reviews are sent by the consumers, the manufacturer would send tokens to reward this engagement with the customer.

It looks very interesting. What if the manufacturer doesn't send the tokens? What obliges them to do this?

[sk5895sk]

So, it works like this:

• 1. Bonafi sells the Crypto-Tag^TM to brands and manufacturers. When the manufacturer buys the tags, they also buy the tokens.
• 2. Manufacturer inserts the tag in their products, and the supply chain information is recorded on the blockchain
• 3. The consumers purchase the products and download the mobile phone App to scan the product
• 4. When the owner registrations or user feedback reviews are sent by the consumers, the manufacturer would send tokens to reward this engagement with the customer.

It looks very interesting. What if the manufacturer doesn't send the tokens? What obliges them to do this?

The tokens are needed to turn on the mobile phone App to authenticate products. If the manufacturer does not send the tokens, then the systems would not work very well. At the worst case, consumers would have to buy the tokens to authenticate the goods. However, if the manufacturer is buying the tags, then they would be motivated to engage with the customers through the rewards system.