VERINETICS has developed a patent-protected software product, TraxSecur, that provides a next generation solution for detecting and deterring fraud in the supply chain. TraxSecur™ creates a security mark that provides intelligence about the movement and integrity of assets, linking them with associated data in the industrial IoT. TraxSecur™ delivers all of its benefits at the lowest practical cost, and at the highest possible security. Since only unaided cell phones are required, even more value comes from TraxSecur™ enabling end-user engagement into the brand authentication network.
Counterfeit, pirated, and diverted goods approach $2 Trillion in annual sales, and result in lost legitimate sales and tax revenues, damage to brand reputation, and pose health and safety risks. Those illegal sales also fund terrorism. In response to this problem, the global anti-counterfeit packaging market now exceeds $140B, and Is growing at a compound annual rate of almost 14%. Markets & Markets Analyst Briefings Global Anti Counterfeit Packaging market for Food and Pharmaceuticals- Technologies & Global Markets (2009 to 2014) identifies industry technology trends over the last 50 years as having moved from inventory management, to authentication technologies, to track & trace serialization, to converged/integrated combinations of the latter two. TraxSecur™ has been designed from the ground up as such a convergence and integration of the key features and benefits of both authentication and track & trace. While TraxSecur™ has many competitors who market either authentication or track & trace, it stands alone as the most powerful and robust converged solution.
In the anti-counterfeiting packaging market, TraxSecur™ has application in multiple industry verticals, including food and beverage, electronics, pharmaceuticals, automotive parts, etc., and on virtually any product.