With crypto currencies slowly seeping into the ‘e-commerce market’, never before has there been a better time to invest in this area. In recent months, many companies have announced that they will be releasing platforms that make ‘buying and selling’ of items through the use of cryptocurrencies more accessible. These softwares will come loaded with the ability to help track and monitor the movement of consignments after a trade has been executed.
Devery is an all new ‘blockchain powered, open-source platform’ that can provide its users with an advanced ‘product verification protocol’. This feature is unique, and can be of use for many businesses that trade in large volumes. Through the use of certain features delivered by this platform, we can ensure that the product we are obtaining is authentic.
So basically put, Devery allows for the exchange of products within a secure supply chain, wherein all monetary transactions can be tracked and accounted for.
Benefits Of Using Devery
Other key aspects of Devery include:
(i) Secure Distribution:
There are many safety mechanisms in place, in case a supplier does not honor the terms of distribution that had been set up previously. When such an issue comes up, items can be marked as illegitimate, thereby ensuring the brand value of the organization remains unaffected.
(ii) Protection against Counterfeit items:
Due to the fact that there are large incentives provided to customers to make use of this platform, it helps minimize any issues related to counterfeit products (because it eliminates the possibility of any obtaining bonuses.)
(iii) Supply Chain Transparency:
One of the biggest advantages of Devery is the option to provide users with the location of their products throughout the supply chain.
How Can Customers Benefit From This Software?
Basically put, Devery serves a means of verifying whether the item that a person has purchased online is authentic or not (even before it is shipped out). As a direct result of this, people no longer have to put their trust into a retailer or organization. Through the use of Devery, consumers have the capacity to check an item’s validity before making any payment.
Devery will be using its very own native currency called the Eve token. It is a specialized currency, that can be used to power the Devery verification platform. In terms of token distribution, we can see that the presale will begin on the 10th of December 2017 and the general crowdsale will commence on the 21st of January 2018. There has been a hard cap put in place that limits the purchasing power of any one individual at 10million USD. According to the company's whitepaper, the distribution of the tokens will be as follows:
- 60% of all Eve tokens will be distributed via a ‘public crowdsale’
- 20% of the tokens will be held within the company reserves.
- The rest will be used to empower certain aspects of this platform.
How Does Devery Work?
From a working standpoint, we can see that Devery provides all of the tools that are needed to help build a commercial certification system.
- To start with, we can see that brands have the option to purchase EVE tokens and then specify the amount of API key markings that are required.
- The manufacturers can then mark the product with the code provided by the brand using the Devery platform.
- It is then upon the Retailers to verify the products
- Consumers can log onto the application to identify item authenticity
Who Is Behind Devery?
Devery is the brainchild of Andrew Rasheed, a Software Engineer(Web & Blockchain) who in the past has been associated with many famous crypto projects such as Ethstall and Coinwatch Touchbar. Similarly, Chironjit Das is the ‘Community and Finance’ manager. He is a certified Accountant, and has had a lot of prior experience in the retail industry. Lastly, Antoine Najjarin is the company’s ‘Partnerships & Strategy Lawyer’.