Serial numbers, QR codes, UPC codes, bar codes, and other unique identification systems can all be cloned or copied. Currently the global market for fake and counterfeit products is $1.8T—which is 10% of the U.S. gross domestic product. This is enormous problem for Brands today.
The distribution of 2B+ mobile devices and the vision of the Google Glass project means the world is ready to interact with the physical environment of products everywhere, but, without a strong digital identity embedded in each product, progress will be much slower than is possible.
Internet of Things
The consumer IoT is progressing, and many large Brands are experimenting with adding microchips to consumer and luxury products. However, without a common registry and authentication protocol, major interoperability issues and roadblocks will ensue for Brands, developers, and consumers.