LUXTAG

Proof of Ownership & Securing Authenticity
using NEM Blockchain Technology

TRANSFERABLE | UPDATABLE | BRANDABLE

Conjointly Owned Blockchain Asset Tagging

LUXTAG

Proof of Ownership & Securing Authenticity
using NEM Blockchain Technology

Transferable | Updatable | Brandable

Conjointly Owned Blockchain Asset Tagging

A well-known problem

and consumer products easily circulated and monetized by criminals

Stolen luxury items

and consumer products easily circulated and monetized by criminals
are counterfeit goods. Fake watches account for 9% of customs seizures worldwide

7% of global trade

are counterfeit goods. Fake watches account for 9% of customs seizures worldwide
unaware of true item's history

Second-hand buyers

unaware of true item’s history
of their manufacture once sold

Brands lose track

of their manufacture once sold

A novel solution

We are providing the first ever digitized certificates of authenticity for products (or machines, or vehicles, etc.) on a blockchain that will be updatable, can have messages attached, and their conjoint ownership can be flexibly transferred. In LuxTag, these certificates are fully-fledged accounts on the blockchain. Such digital token accounts will be used to stop counterfeiting of items, track the status of the item throughout its life, and further provide post-sale big data to companies to which they currently don’t have access to. The Blockchain records these events and appends them to the notarization account which represents the tokenized luxury item. Past data is immutable.

A Better Approach

We are not the only one working on a project to secure real-world assets using Blockchain technology. Factom & Everledger use a concept called “Proof of Existence”, i.e. they send messages concerning assets to one blockchain account. They mainly rely on the Blockchain technology messaging feature, securely (immutable, auditable) sending a message “transaction” from one account to another.


We are different.


Our concept is to create a digital representations of “LuxTagged” assets as an account themselves and set a defined, transferable ownership over that account. Other approaches work with accounts which don’t necessarily represent the real-world asset directly, nor can they solve ownership over accounts appropriately. LuxTag works with not just one “sink” account but with numerous blockchain accounts, every single one representing a particular asset. We “accountify” tokenized assets.

We are leveraging on the multi signature feature of the NEM Blockchain Platform.
Token accounts contain information (update messages) and as such they mirror the asset’s history over time – so-to-say as carved in stone – verifiable and auditable.
Every account is live, updatable, transferable, and allows conjoint ownership.


This what makes us different.

Patent pending.

A well-known problem

and consumer products easily circulated and monetized by criminals

Stolen luxury items

and consumer products easily circulated and monetized by criminals
are counterfeit goods. Fake watches account for 9% of customs seizures worldwide

7% of global trade

are counterfeit goods. Fake watches account for 9% of customs seizures worldwide
unaware of item's history

Second-hand buyers

unaware of item’s history
of their manufacture once sold

Brands lose track

of their manufacture once sold

A novel solution

We are providing the first ever digitized certificates of authenticity for products (or machines, or vehicles, etc.) on a blockchain that will be updatable, can have messages attached, and their conjoint ownership can be flexibly transferred. In LuxTag, these certificates are fully-fledged accounts on the blockchain. Such digital token accounts will be used to stop counterfeiting of items, track the status of the item throughout its life, and further provide post-sale big data to companies to which they currently don’t have access. The Blockchain records these events and appends them to the notarization account which represents the tokenized luxury item. Past data is immutable.

A Better Approach

We are not the only one working on a project to secure real-world assets using Blockchain technology. Factom & Everledger use a concept called “Proof of Existence”, i.e. they send messages concerning assets to one blockchain account. They mainly rely on the Blockchain technology messaging feature, securely (immutable, auditable) sending a message “transaction” from one account to another.


We are different.


Our concept is to create a digital representations of “LuxTagged” assets as an account themselves and set a defined, transferable ownership over that account. Other approaches work with accounts which don’t necessarily represent the real-world asset directly, nor can they solve ownership over accounts appropriately. LuxTag works with not just one “sink” account but with numerous blockchain accounts, every single one representing a particular asset. We “accountify” tokenized assets.

We are leveraging on the multi signature feature of the NEM Blockchain Platform.
Token accounts contain information (update messages) and as such they mirror the asset’s history over time – so-to-say as carved in stone – verificable and auditable.
Every account is live, updatable, transferable, and allows conjoint ownership.


This what makes us different.

Patent pending.

Open

Hiring developers (full-time, in-house in Malaysia) with specialization JavaScript/AngularJS. Contact [email protected] today.