Autonomous transfers of NFTs when delivering physical assets
— JOE RUIZ – managing director and founder
MONTEREY, CA, USA, Aug. 3, 2022 /EINPresswire.com/ — During the recent USPS National Postal Forum, the Digital Postal Service (DPS) demonstrated its postage token technology and the first autonomous transfer of an NFT Certificate of Authenticity when a physical painting by artist Jol was sent with their NFT Digital Stamp and was scanned as delivered. The NFT transaction was registered on DPS’ private blockchain and Polygon’s public blockchain.
While the hype about NFTs and Crypto subsides during 2022, DPS showcases the underlying Web3 technology and its unique utility across industries. The technology can play a valuable role in securing supply chains and ensuring that all goods purchased online are authentic. The proof of ownership is shown through the blockchain’s underlying cryptography used by DPS’ Porto tokens for physical products.
DPS postage stamps are linked to a product’s NFT Certificate of Authenticity (COA). The entire shipping history, as the goods go from producer to consumer, is recorded on both DPS’s private blockchains and public blockchains such as Polygon. When the USPS ePostage label is scanned upon delivery, the COA is transferred to the buyer from the label.
Recently, the United States Government Accountability Office conducted a test in which they found that 20 of the 47 consumer products they purchased from leading online marketplaces were counterfeit. The timing of DPS’s Web3 postage platform can also help protect brands’ goods from counterfeiting by proving authenticity.
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