|ORIGYN and FederItaly partner to give trust back to consumers using blockchain technology|
NEUCHATEL, SWITZERLAND, Mar 21, 2023 - (ACN Newswire) - Fake "Italian" products are a rising concern, with the market estimated to be worth over EUR 100 billion worldwide. Despite protected status and regulations, even iconic Italian products like Parmigiano Reggiano are not immune to counterfeiting, with the fake market worth $2 billion, close to the sales of authentic Parmigiano at $2.7 billion.
|100% Made in Italy Certificate|
Representing over 7,000 registered companies and diverse businesses across all sectors, FederItaly is a dynamic non-profit federation dedicated to safeguarding "Made in Italy" and fighting the damaging effects of Italian-sounding products to Italy's economy and reputation.
FederItaly has partnered with the ORIGYN Foundation, a Swiss non-profit that uses cutting-edge blockchain technology to prove authenticity, identity, and ownership of valuable assets through digital certificates. These certificates will include multimedia elements like images, documents and even entire applications. By leveraging the foundation's powerful digital certification technology, FederItaly aims to protect Italian brands and consumers alike.
ORIGYN's innovative technology is built on the Internet Computer, the most cost effective and greenest blockchain in existence, developed by the DFINITY Foundation, which ensures the utmost transparency and security in the fight against counterfeit Italian products.
"FederItaly's partnership with ORIGYN marks a milestone in certifying Italian products, promoting economic and social empowerment. With the Senate event, initiative of Senator Gianpietro Maffoni, we are launching the certification process, starting from the Consortium of Extra Virgin Oil from Monti Tifatini, located in a region facing economic and social challenges," said Carlo Verdone, President of FederItaly.
The "FederItaly 100% Made In Italy" mark offers a trusted symbol of authenticity and quality. Companies must undergo a rigorous validation to ensure that all materials and processes originate from Italy. The resulting digital certificate, securely stored on the Internet Computer blockchain, provides all the essential details, from the product's origin to its maker, accessible with a simple scan of the product's QR code.
"ORIGYN Foundation is delighted to collaborate with FederItaly and DFINITY to help protect the integrity of Italy's finest products and creations, whose authenticity is passionately sought by so many the world over," said Mike Schwartz, ORIGYN Co-Founder and Councilmember.
FederItaly and ORIGYN are also developing a secure and decentralized e-commerce platform for small and medium-sized Italian businesses, with the ultimate goal to promote and preserve Italian excellence globally.
Starting from March 21, 2023, FederItaly will accept application requests for the "FederItaly 100% Made in Italy" digital certificate using the ORIGYN certification platform.
ORIGYN creates powerful biometric digital certificates that prove authenticity, identity and ownership of valuable assets, securely and permanently storing their data on the blockchain. ORIGYN's digital certification technology establishes an irrefutable connection between a physical asset-such as luxury watches, jewelry, gemstones, manufactured goods and fine artworks-and a forgery-proof, customizable digital certificate, while also offering a host of value-added services to businesses and consumers. ORIGYN serves as a universal, global certification standard for increasing trust, securing data and generating new revenue streams for businesses through digital certificates, which have now officially launched worldwide. Headquartered in Neuchatel, Switzerland, ORIGYN operates as a foundation dedicated to its mission to build trust in what is most valuable. For more information, visit origyn.com.
FederItaly is the premier Italian federation dedicated to protecting, promoting and disseminating the excellence of "Made in Italy" products and services worldwide. Established in 2021, the organization quickly established itself as a leading voice among companies and media outlets. With over 7,000 registered companies, 12 trade associations, 5 consortia, and over 500 professionals, FederItaly has a proven track record of success in promoting the best of Italian production and professional excellence.
SOURCE: ORIGYN Foundation
Topic: Press release summary
Source: ORIGYN Foundation
Sectors: Blockchain Technology, FinTech
From the Asia Corporate News Network
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