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Authena: Protecting authenticity with encrypted tokens @ CES 2023

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Sinopsis

The world of physical and digital is becoming increasingly intertwined, and the use of non-fungible tokens (NFTs) is one way to bridge this gap. NFTs are a type of cryptographic token that represents a unique digital asset, often in the form of a digital collectible. But, Authena has flipped the script and is using them to represent the authenticity of real-world assets.The problem with counterfeitingOver the past few decades, counterfeit products have become more common. While you used to have to go to a street corner in New York to get a fake Gucci handbag, now they exist everywhere. The decreased cost of custom manufacturing has made it easier for counterfeiters to create look-alike products. But, Chinese outsourcing has given a lot of intellectual property control to foreign powers without copyright protections.In addition, the internet has turned everyone's phones into a NY street corner. Websites like Wish and Temu have made their fortunes selling counterfeit products, or selling unrelated products usin