LTO Network makes their Layer-1 blockchain available for the fight against counterfeit goods
Amsterdam, Netherlands, February 29th, 2024, Chainwire
Scantrust and LTO Network Partnering for Secure, Transparent items.
Scantrust’s innovative Secure QR codes, a well-known and proven tool against counterfeiting, can now be used in conjunction with LTO Network’s secure, transparent blockchain technology. This allows organizations that depend on critical documents and high-value, luxury goods to have additional options to establish and maintain a new level of trust and accountability.
Any item with Scantrust Secure QR codes can have their authenticity verified in a matter of seconds using a mobile phone. With the LTO Network, an additional, immutable digital audit trail for information can be added, creating a secure data anchor for government certificates, product and safety certifications, diamond certificates, warranty cards for luxury goods (e.g. watches) and any other high-value items.
The LTO Network blockchain also supports a new way to track supply chain information. By integrating blockchain for enhanced transparency and immutability, counterfeiters are blocked from easily faking the origin of the counterfeit items they sell. In an industry plagued by a $500 billion counterfeiting problem, these tools represent a significant step forward in protecting businesses and safeguarding consumers.
The option to integrate LTO Network’s technology with Scantrust Secure QR codes is part of a vision for a future where trust is built into the very fabric of our transactions and trades. For Scantrust, it’s an opportunity to expand their reach and further their mission of document security. For LTO Network, it’s about adding a powerful document security layer to their suite of privacy-focused solutions, offering their clients a comprehensive package for building trust in today’s digital world.
About LTO Network
LTO Network is a privacy-aware Layer-1 blockchain for Real World Assets, Data Security and Identity solutions.
The platform is designed for business process efficiency and security. It combines a public layer for transparency and a private layer for data security, ensuring GDPR and MiCA compliance. This dual-layer approach makes it ideal for enterprises requiring data privacy and regulatory adherence.
LTO Network also offers tokenization of RWAs through their Ownables technology, enabling assets to be brought on-chain and allowing them to interact with the world of DeFi and Web3.
LTO Network’s KYC services help maintain compliance with anti-money laundering laws as well as offering proof of humanity services to protect Web3 and DeFi platforms from bots.
About Scantrust
Scantrust helps manage and resolve counterfeit product problems, address supply chain traceability and inventory management challenges, and provides tools for regulatory compliance related to product data requirements. Maintain and build your brand’s integrity, gather detailed consumer insights, and simplify your traceability regulatory compliance efforts. Learn more at www.scantrust.com