StopTheFakes – blockchain solution that aims to put an end to piracy, counterfeiting, & plagiarism

Today, the losses from computer piracy sustained by holders of intellectual property rights, businesses and individuals, are huge. According to the Organization for Economic Co-Operation and Development, the counterfeit market is over $461 billion.

The counterfeiting of consumer goods is a worldwide phenomenon. For one example, according to the World Health Organization, up to 60% of pharmaceutical drugs are counterfeit. Our health is at stake.

That’s why one Czech team intends to build a solution to this thorny problem based on the blockchain technology riding on the Ethereum network – an anti-piracy and plagiarism platform called StopTheFakes, currently in ICO phase.

Once fully built, StopTheFakes will be the world’s first decentralized service that will help detect cases of piracy on the web, counterfeit sales in the real world and infringement of intellectual property rights and copyright. Companies will have the opportunity to detect, localize and document violations of their rights quickly with the help of regular users and citizens who get remunerated for their help.

Users on StopTheFakes will be divided into Requestors and Doers. The Requestors issue requests on the blockchain, and the Doers search and track any possible violations of the Requestor’s requests and receive a reward for their service, in the form of STF tokens.

At the time of writing, the team is running a token sale which ends in 2 days, April 20.

In winter-spring 2018, the team has released web and mobile prototypes and a Chrome/Opera extension. The main service launch is slated for June 2018.

The service is going to be 100% automated and the Doers can use a mobile app right “on the field” or a browser extension. The Doers’ alerts authentication codes will be encrypted on the Blockchain and InterPlanetary File System (IPFS) will be used for storing the collected data.

The rationale behind the system is that paying a small amount of money to locate the infringers quickly will be a smaller cost than losing massive amounts of revenue due to pirated products.

It worth pointing out that the platform will be a detection tool only. While rights holders will be able to find out who’s pirating their goods and services, discovering the identity of these individuals is just one step – the second is weeding out the pirates. Doing so would require more legal and financial resources.

The project was founded by Mikhail Krzhanovsky and Igor Salikov in Prague, Czech Republic, in June 2016. Mr. Krzhanovsky previously served as an information security specialist for the Russian Federal Tax Service and the information security director for the Russian Federal Service for Fiscal and Budgetary Supervision. That probably makes him a suitable founder of such anti-plagiarism platform.

Related News

China Clamping Down on Bitcoin Miners

China has been clamping down on cryptocurrency trading in the last few months. And that pressure has only increased with the Chinese government now targeting Bitcoin miners

Read-more

The EFFECT Network – a NEO-powered platform for AI products

The Artificial Intelligence (AI) industry is highly promising and has a lot of potential, but few companies can enter the market due to the fact that

Read-more

DAOstack, a decentralized governance ecosystem, is ushering in the Blockchain 3.0

The idea of “decentralized direct democracy” governing model has been gaining traction in the past few years thanks to the rise of the

Read-more

South Korea’s capital, to create its own cryptocurrency

South Korea is one of the most active countries in the virtual currency market, and it’s about to become even more so.

 

Read-more