On September 9th, LINFINITY CEO Anndy Lian was invited to visit the Asian Productivity Organization (APO) headquartered in Tokyo, Japan for an in-depth discussion on “How to Build a Trusted Anti-counterfeiting Traceability Ecology with Blockchain Technology” together with Joshua Lau, Director of APO Research and Planning Department, Sherman Loo, Director of Administrative & Finance and members of the research team.
Anndy Lian introduced LINFINITY’s blockchain based anti-counterfeiting solution and business strategy to the attendants. He pointed out that the strength of blockchain technology is obvious. For blockchain to be fully commercialized, it is necessary to understand the real market demands, which exactly coincides with the APO’s search for new technologies to boost productivity.
The Asian Productivity Organization (APO) is an international organization that aims to improve productivity and promote sustainable social and economic development in the Asia-Pacific region. APO currently has 20 member countries and regions, including South Korea, Singapore and Japan. Its strategic focus is on the use of high-tech to revitalize small and medium-sized enterprises, promote regional development, advocate innovation and popularize green productivity.
When talking about the LINFINITY blockchain based anti-counterfeiting solution, Anndy Lian said, “We upload the product information onto the block and adopt a unique and blockchain-supported QR code. By scanning the QR code, the consumer can obtain the information about the good. These data are transparent and cannot be artificially tampered with. Although many traditional enterprises have taken anti-counterfeiting measures, customers do not often proactively verify the authenticity of products they buy. Such paradox situation makes these anti-counterfeiting measures a ‘Maginot Line’. LINFINITY is to motivate consumers to participate in anti-counterfeiting verification and to report counterfeit and shoddy goods in a timely manner through the unique ‘token mechanism’ in the blockchain ecology. Such rewarded source-tracking mechanism can enhance their awareness of consumer rights and to motivate them to participate in the whole supply chain as a key element.” Anndy Lian added: “All new technologies need to be integrated to put into use. Integrating the Blockchain, IoT and AI can help minimize the drawbacks of the supply chain, and also can remedy the loss in time if there is any problem.”
In recent years, APO has set up research institutes in Singapore, Taiwan and Philippines, dedicated to the study of industrial upgrading and transformation, of which blockchain technology is also a part. “We are looking forward to furthering collaboration with the APO, combining LINFINITY’s blockchain technology and APO’s management experience in productivity, to enhance productivity with new technologies,” said Anndy Lian.