Seoul, South Korea – October 29, 2018 – WeGen has created a low cost, impossible to replicate, nano-semiconductor based authenticity label that protects consumers, distributors, manufacturers, retailers and high-value brands from the nearly trillion-dollar fake or counterfeit goods industry ($991 billion as per a June, 2017 report from Frontier Economics). GMOV is the name of the complex verification and authenticity label of the WeGen platform. The GMOV authenticity marque links with the WeGen blockchain and smart-phone app to allow consumers to visually and electronically confirm that items including expensive clothing, vital baby food, or life-saving drugs the consumer pays top prices for are from the brand, manufacturer or distributor that the label claims. Already proven with several industry partners, the GMOV labels and WeGen blockchain platform are so cost effective that branding and provenance of almost all products can be easily set-up for confirming their authenticity.
CEO of FIR-Gmov and developer of the GMOV label SungJae Cho explained that he started conceiving of GMOV after a trip to Milan, Italy: “In Milan, known as the mecca of fashion at the time, I had bought jeans for a fairly high price as a gift to my son, and these turned out to be fake after all. Even in the home of fashion, genuine and fake could not be distinguished. Thus, I thought counterfeit products would be more popular in other areas. After that, every time related news came out about counterfeit problems, I became more interested in solving this critical challenge.”
Shortly after the Milan jeans incident, Cho began investigating methods to make images more complex for preventing copying. Eventually this pursuit, in cooperation with technically minded friends and colleagues, led to the multi-layered, nano-semiconductor image for GMOV labels. Unlike all other anti-counterfeit methods, GMOV labels are discernible both visually and via scanner using the WeGen smartphone app. This powerful feature of human visual confirmation combined with blockchain based confirmation enables a host of features unmatched by competing technologies.
The WeGen blockchain will allow consumers, brands, manufacturers, distributors and retailers to interact for checking authenticity, buying from GMOV participating brands, spotting counterfeit goods, and earning rewards based on checking labels or other value-added activities. Though other blockchain based counterfeit systems exist, none of them can match the cost effectiveness and inimitable technology of GMOV.
The key advantages of the GMOV label and WeGen blockchain platform include:
1. Lowest cost authenticity label available.
2. Most difficult to duplicate or counterfeit label.
3. Multiple methods of GMOV label application, allowing easy product integration.
4. The WeGen blockchain platform provides brands, manufacturers, distributors, retailers and consumers benefits in the form of coin rewards for using WeGen.
5. WeGen Coins will help build brand loyalty, raise awareness of the counterfeit product problem, and improve sales of authentic products.
Based in Seoul, South Korea with divisions in North America, WeGen focuses on commercializing GMOV authenticity labeling through joint ventures and brand partnerships for the fashion, pharmaceutical, automotive, food, and many other industries. GMOV technology has proven to be inexpensive, effective, easy to integrate with a variety of products, and surpasses all other anti-counterfeit methods including RFID, QR codes, NFC and others both in cost and in usability. A large team of engineering, marketing, production, and business development experts forms the core of the company for establishing GMOV labels as the technological standard across all high-value industries.
WeGen Coins are being introduced via a coin sale to further develop the GMOV technology and platform at http://www.wegen.io/