Chekkit Completes New Round of Financing Led by Adaverse for Blockchain Anti-Counterfeiting

On April 19th, Chekkit, a blockchain anti-counterfeiting solution provider, announced the completion of a new round of financing, led by Adaverse, a Cardano ecological accelerator, and participated by RTA, HoaQ, Launch Africa, and Blockchain Founders Fund. The company did not disclose the specific financing amount, but reportedly reached several million dollars. Chekkit mainly provides DAG blockchain anti-counterfeiting solutions for food and drug supply chain tracking, providing manufacturers with product serialization and traceability services that meet global standards.

Blockchain anti-counterfeiting solution provider Chekkit completes a new round of financing

In the world we live in, consumers are faced with an enormous challenge: how to avoid counterfeit goods. The Food and Drug Administration (FDA) in the United States estimates that up to 10% of all drugs sold worldwide are counterfeit, which translates into hundreds of thousands of deaths. Furthermore, counterfeiting hurts legitimate businesses and reduces governments’ revenue by billions of dollars a year. Chekkit, a blockchain anti-counterfeiting solution provider, announced on April 19th, 2021, that it had completed a new round of financing, led by Adaverse, a Cardano ecological accelerator.

The Problem of Counterfeit Goods

Counterfeits are goods that are illegally produced to resemble a genuine product. They may be, for instance, drugs, luxury goods, or electronics. Counterfeiters usually invest in making their products look as if they were genuine, but in truth, they are usually of inferior quality, and may even be dangerous.
The most common way that counterfeit goods enter the market is through supply chains. Counterfeiters can insert their products at any point in the supply chain, and because they look so similar to the genuine articles, it can be difficult to tell them apart. Once counterfeit goods are in the market, they can damage the reputation of legitimate businesses and cause substantial harm to society.

Chekkit’s Solution

Chekkit is a blockchain-based anti-counterfeiting solution provider that solves the problem of counterfeit goods. The Chekkit solution is based on directed acyclic graph (DAG) technology. This technology is ideal for supply chains because it can handle a high volume of transactions, is fast, secure, and does not require high energy consumption.
The Chekkit solution provides manufacturers with product serialization and traceability services that meet global standards. This means that every product gets its own unique digital identity, and it is possible to trace the product throughout the supply chain. Chekkit’s blockchain anti-counterfeiting solution is designed to eliminate the risk of counterfeit goods entering the supply chain.

The Latest Financing Round

Chekkit recently announced the completion of a new round of financing. Adaverse, a Cardano ecological accelerator, led the investment round, which also included RTA, HoaQ, Launch Africa, and Blockchain Founders Fund. The company did not disclose the specific financing amount, but reportedly reached several million dollars.
This new round of financing will enable Chekkit to accelerate its growth and expand its existing operations. It will also help the company to create new partnerships and provide its blockchain anti-counterfeiting solutions globally.

Conclusion

Chekkit’s blockchain anti-counterfeiting solution is a game-changer for the supply chain industry. The company’s new round of financing will enable it to continue to provide innovative and effective solutions to the problem of counterfeit goods. Its DAG blockchain technology provides a secure, fast, and environmentally friendly way to track products throughout the supply chain. Chekkit’s solution meets global standards and can be used across a wide range of industries to prevent counterfeit goods from entering the market.

FAQs:

Q: What is Chekkit’s solution based on?
A: Chekkit’s solution is based on directed acyclic graph (DAG) technology.
Q: What is the most common way that counterfeit goods enter the market?
A: The most common way that counterfeit goods enter the market is through supply chains.
Q: What does Chekkit’s blockchain anti-counterfeiting solution provide?
A: Chekkit’s blockchain anti-counterfeiting solution provides manufacturers with product serialization and traceability services that meet global standards.