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Techrock’s original founders – Alexander Busarov and Yaroslav Belinskiy – were living and working in China when they experienced, first-hand, the dangers resulting from counterfeit goods: a bottle of whisky purchased in a store in Hangzhou turned out to be fake. They soon discovered that the proliferation of counterfeit goods in China’s supply chain was extensive. Not only is this a danger to end consumers, but countless brands, retailers, and distributors suffer the consequences as well, as most of them are unaware they’re dealing with counterfeit goods.
The attempts of existing technology to tackle the counterfeit problem proved insufficient, and Alex & Yaz believed there should be a more effective and secure solution. They envisioned using blockchain technology, with its distributed database, mass authentication, and irreversibility of records, to set the foundation for the next generation of anti-counterfeiting technology. In combination with smart RFID/NFC enabled packaging for each physical products, a safer, more intelligent, and more effective anti-counterfeiting solution was created.
Jackie Xu Rui
BD Director, Australia & New Zealand
BD Director, Japan