TYG builds Consumer Trust Platform based on iov42 distributed ledger technology

Together, the companies deliver traceable, unique and tamper-proof identities of high value goods, starting with fine wines

TYG has signed on with IOV42 to provide the underlying technological infrastructure for TYG’s product authenticity solution. iov42 is excited to partner with TYG to provide cutting-edge digital authentication solutions for TYG’s consumer trust platform, focusing first on fine wine authentication.

We are extremely pleased to be working with Trust Your Goods,” says Dominic von Trotha Taylor, CEO at iov42. “Counterfeit wines are actually a multi-billion-dollar problem. This results from a breakdown in trust across the supply chain. So, we are looking forward to supporting TYG to bring trust back into the world’s wine industry.

High-quality products must finally become counterfeit-proof. This is something that premium brands owe their customers,” claims TYG CEO Martin Zimmerl. “Particularly with the boom in online trade due to the pandemic, product security has never been more important. For us, iov42’s solution fulfills all characteristics of a next generation blockchain platform, providing flexibility, security, high performance and easy integration.”

Building on iov42’s platform, Trust Your Goods provides digital certificates of authenticity for high value products, such as fine wines. TYG equips products with counterfeit-proof NFC/RFID tags, whose digital equivalents are then securely stored on iov42’s next generation blockchain platform.

Easy and secure for the consumer

TYG’s solution secures fine wines for the consumer in three ways: 1) physically, through the NFC/RFID tag on the bottle; 2) digitally, by storing the digital equivalent on iov42’s platform; and 3) through a secure mobile app that empowers consumers to easily verify the authenticity of a product.  Not only will producers secure their image, brand, and revenue, but they will also protect their customers’  investment, enjoyment, and health.  Providing several layers of protection, TYG offers an easy, counterfeit-proof solution for product suppliers and consumers to identify originals.

About iov42iov42 has developed a trust-building identity platform with pioneering technology inspired by the fundamental principles of distributed ledger technology. The iov42 platform provides a suite of smart features that can be easily modified and combined to create bespoke technical solutions for organisations.