The PuffBar vape company will use crypto and blockchain to fight counterfeits thanks to Vechain’s technology as we can see more in today’s VET news.
Blockchain’s role as a seal of authenticity will be widely adopted in retail in the next few years and Puffbar will accept ETH and BCH on its website. The vaping brand which sells fruit-flavored options said that it will use crypto to stop people from selling counterfeit devices. The brand posted that it will be using Vechain technologies to do so. Puff Baris produced by Cool Clouds Distribution which is a Los Angeles company that was founded in 2019. According to reports, Cool Clouds stopped selling the product in the US after the FDA banned the e-cigarettes as too many people had trouble with them. The company said on its Reddit page:
“Our products are not healthy, everything we sell is for adult consumers who are going to vape knowing the risks. We are not perfect, we grew fast, we made mistakes, we pulled back to correct our mistakes.”
While the vaping products are off the market, counterfeits took their place and the brand’s Reddit account is now trying to make people not click on links that sell fake products but it is now enough:
“We pulled our product off the market in July 2020 and now fakes account for about 95% of the product you see out there. It’s been horrible.”
To save the day, Vechain’s blockchain will be used so that customers are able to verify the authenticity of the vapes once they return to the shelves. The goal is that the blockchains are immutable and everything logged on them cannot be altered or changed with 51% attack on the network. The authentical technology uses a tag from a French anti-counterfeiting company and the reports said:
“When you go to our site to verify, you click a button and it will automatically open the camera on your phone. You take a picture & submit, press enter, within 5 seconds the technology is able to pick up the micro imperfections on the sticker that can’t be seen by the naked eye to verify whether this product is authentic or not.”
PuffBar said it will start rolling it out over the next few weeks and explained:
“Anybody that knows this industry knows fakes have been rampant. Prepare to start seeing a lot more VET in the vaping industry. It saves us money because essentially we don’t lose out on that missed revenue due to someone willing to buy counterfeits instead. It also helps prove more definitively that they are selling fakes for lawsuits and legal matters.”
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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