OIN SPACE is a decentralized ecosystem that builds radically new relationships between the manufacturer and the consumer.

Despite the availability of protection systems, the counterfeit goods market is growing every year. The market for protection systems and authenticity verification is developing along with that. This paradoxical situation, where authentic goods manufacturers bear more and more losses from counterfeits spending more on protection against them, forces a manufacturer to raise costs for end consumers, increase marketing and branding budgets, implement large-scale and often inefficient loyalty programs.

According to the World Health Organization, every tenth pack of medicines in the developing countries is counterfeit or doesn’t meet the labeled quality. Most frequently counterfeited are anti-malaria medicines, while counterfeits of contraceptives, vaccines and food supplements are also common. Counterfeited medicines are a real threat to the life and health of millions of customers and their annual damage to the world economy amounts to $30 billion.

The OIN SPACE solution based on blockchain technology involves QR codes protected by OIN’s decentralized platform’s algorithms and a system of smart contracts eliminating any chance of counterfeiting and duplicating. A blockchain- protected QR code is a simple, user-friendly, universal protection system. The OIN SPACE ecosystem will provide customers an opportunity to have a single authenticity verification tool.

The OIN platform involves: OIN commodity producers, intermediaries, commodity consumers and the cryptocurrency exchange.

And the main elements of the ecosystem are:

1. Global verification system that enables consumers to independently verify authenticity of any product using the OIN mobile app
2. Direct promotion program for authentic goods consumption
3. Big data analysis system enabling manufacturers to access completely reliable information on consumer attitudes and perform efficient direct-to-consumer marketing streamlining communication with the brand’s target audience