Alibaba backs NFC specialist for brand authentication

Wednesday 11 July 2018 09:46 CET | News

Ecommerce large company Alibaba has invested in NFC and RFID specialist Smartrac Technology Group.

Smartrac’s Smart Cosmos platform enables brands to use NFC to create and embed a unique digital identity into each individual product at the point of manufacture. According to Alibaba, the investment is designed to enable the two companies to provide brands with “innovative product authentication solutions at scale.”

According to the technology company, this product identity can only be issued by the brand and cannot be faked, copied, stolen or lost. As a consequence, it provides full control and visibility of each genuine product throughout its product lifetime. Moreover, brand owners can deliver exclusive and dynamic content to their consumers via a simple tap of a phone.

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Keywords: Alibaba, China, ecommerce, brand authentication, original products, NFC, RFID, investment, Smartrac Technology Group
Countries: World