The anti-counterfeiting traceability solution will help consumers to efficiently detect the authenticity of the product
Sinopharm Tech Holdings, a comprehensive business development company, has introduced a new lottery anti-counterfeiting traceability solution.
The company has collaborated with Beijing Cai-Yan Technology (CY Technology) to offer an advanced anti-counterfeiting traceability solution with anti-counterfeiting packaging devices and online anti-counterfeiting information verification platform as the core content.
Via the commercialisation of lottery anti-counterfeiting technologies, the solution will facilitate the consumers to efficiently detect the authenticity of the product.
As per the data from the Newsijie Industry Research Centre, China’s anti-counterfeiting market reached RMB151.2bn ($21.6bn) in 2018 and extended into different industries such as medicine, food, cosmetics, tobacco and alcohol, and luxury goods.
The anti-counterfeiting traceability market is expected to reach RMB198.7bn ($28.5bn) by the end of 2023, said the company.
CY Technology has received authorisation to use two patented technologies
CY Technology has secured authorisation to use two patented technologies, including product anti-counterfeiting packaging device, and adhesive parts and components and anti-counterfeiting packaging device.
Sinopharm is also provided with the flexibility to use these patents by signing a licensing agreement with CY Technology. The authorisation enables to use of anti-counterfeiting patent solutions for market promotion and to form an overall solution for the patented technology to apply for consumer products.
The two anti-counterfeiting patents primarily offer anti-counterfeiting methods for consumer products circulated in the market via the use of lottery as an anti-counterfeiting mechanism.
The targets of anti-counterfeiting, easy identification and traceability can be achieved with the combination of the anti-counterfeiting characteristics of lottery tickets and other product design and technological elements such as radio frequency identification.
The planned overall anti-counterfeiting patent application solution aggregates the lottery characteristics of credibility endorsement, anti-counterfeiting and public welfare features together with anti-counterfeiting packaging.
The integrity of the effective area of the lottery ticket will also be devastated when the anti-counterfeiting packaging is opened.
Sinopharm Tech executive director and CEO CHAN Ting said: “The group has been deeply involved in the lottery industry for more than ten years with a foresight of the market and knows how to make use of the unique technologies to create and capture market share.
“In the future, the Group will strive to promote the in-depth integration of lottery sales, the Anti-counterfeiting Device, ‘Internet Plus’ and blockchain technology. While implementing multi-dimensional marketing functions in the backend of the anti-counterfeiting information system, the Group will ensure the security and integrity of data information.”
In September 2019, Toppan Printing collaborated with packaging firm Amcor to provide NFC tag-enabled anti-counterfeiting solution for the wine and spirits markets.