INTRODUCTION:
Upscale luxury watches are very popular throughout the world, and their demand continues to increase. This popularity does not depend solely on quality, expertise, and reliability because luxury watches emphasize the social status, style and taste of the owner. Luxury watches have become a statement of exclusivity. Apart from status-driven considerations, purchasing luxury watches is a solid long-term investment that offers stable returns in the future.
In accordance with the marketing principles of the latest edition, luxury watches fall into the category of special consumer products, which are usually characterized by unique characteristics and brand identification where a large group of buyers are willing to make special purchasing efforts, strong brand preference and loyalty, exclusive distribution at several outlets market area, and promotions are targeted more carefully both by producers and retailers.
Luxury Goods Market:
The global luxury goods industry, which includes fashion, cosmetics, fragrances, jewelry, luggage, and handbags has been increasing for years. The global private luxury goods market value is US $ 212 billion in 2018 and is estimated to be worth US $ 323 billion in 2019.
Luxury goods manufacturers meet consumer demand by focusing on brands, aesthetics, quality materials, expertise and superior prices to turn everyday objects into status symbols. The industry is rising and falling with gross domestic product (GDP), seeing demand rise in times of economic stability and falling in an unfavorable economic climate. The United States has long been the largest regional market for luxury goods and is expected to continue to become the leading private luxury goods market in 2019, with a value of US $ 71 billion.
Louis Vuitton is the most valuable luxury brand in the world, with a brand value of around 41 billion US dollars in 2018. The market and new segments provide industrial growth points. One of the challenges for luxury companies is maintaining brand equity and fostering their customer relationships. When luxury expands to more industries, expect a more mature segmented market. As a result, consumers must also be more rational. The private luxury goods industry is expected to continue to grow, especially in the Middle East; the market is expected to increase by 19 percent in 2019 with a total of around US $ 10 billion.
Problem:
The negative impact of counterfeiting and piracy is projected to spend $ 4.2 trillion from the global economy and put 5.4 million legitimate jobs at risk. Here are three major global problems currently in the luxury industry:
- Fake Luxury:
As a buyer, how can you make sure the luxury product you buy is genuine? As a seller, how do you prove that your item is 100% authentic? This remains a major trust issue between buyers and sellers without a neutral and neutral self-help decentralization solution based on global alliances.
- Reporting and Theft of Non-unified Services:
At present, there are no single universal user database records for global authentic global assets from various manufacturers. Information about where the product was originally purchased, previous owner's records, and a history of maintenance services is difficult to obtain. Stolen goods can easily re-enter the resale market because there is no global stop-list put together.
- Asset Liquidity Issues:
Most people don't realize the value of items they hang on the wall or store in a garage or jewelry box. Luxury assets such as Swiss watches, luxury handbags, jewelry, and fine arts have increased in value by 205% over the past 10 years, thus providing a good opportunity for asset liquidity. It is clear that most owners of luxury assets do not use the safest and most profitable channels to liquidate their assets for their greatest benefit.
ORIGIN SOLUTIONS:
The negative impact of counterfeiting and piracy is projected to drain $ 4.2 trillion from the global economy and put 5.4 million legitimate jobs at risk by 2022. This situation is not sustainable and is dangerous for the industry of personal items and customers who spend money in it, that's why we see there is an urgency to find a good solution to solve this growing problem. We soon realized, with the advent of blockchain technology and its disturbing trends, we are confident to take advantage of this new technology in tackling the fake epidemic, given the current traditional centralized arrangement has not achieved much in controlling the situation.
We strongly believe that ORIGIN Foundation is the solution to the problem of our fake counterfeit goods. ORIGIN Foundation creates a decentralized verification solution for the private luxury market. With the ORIGIN Blockchain framework, personal luxury products such as watches, jewelry and bags can be authenticated by our Tier1 and Tier-2 users who will upload information about their new purchases to the blockchain as Digital Assets.
With Digital Assets, anyone can see detailed information that proves the source and authenticity of assets because potential buyers can see relevant data including serial number, origin, and authentication history. Then, the asset will be marked with a unique QR code ORIGINAL ORIGIN which will reflect all information previously stored on the blockchain. QR codes are made in such a way that they cannot be copied or falsified by ambitious counterfeiters; When the code copied or falsified is scanned by the ORIGIN application, the code will be declared false.
In certain situations, shoppers who want to buy luxury handbags can easily scan the ORIGIN ™ QR Code using the ORIGIN Application and all bag information stored on the blockchain will be displayed. With this, you can know for sure whether you get a genuine handbag or not.
This is definitely a win-win situation for blockchain technology and the luxury goods industry. Information about the blockchain cannot be changed, which promotes trust. Buyers do not need to go through any form of training in finding fake luxury bags or the like. Brands also won't worry too much about competing with falsehood because they now have ways to guarantee authenticity and differences from falsehood.
Customers are of course not happy to be cheated and the lack of methods available to verify products (other than their best guess), but decentralized solutions like this pave the way for reliable and accessible ways to find out whether a product is legitimate or not.
What needs to be restored to the market is trust and transparency, and blockchain technology seems to be the solution to that. Brands will also be able to grow their business with transparency in the product life cycle. Embracing a more decentralized solution might only be a breakthrough needed for the luxury industry.
BLOCKCHAIN TECHNOLOGY:
The Blockchain is a distributed public ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. Blockchains managed by peer-to-peer networks collectively follow protocols for inter-node communication and validate new blocks. After recording, the data in any given block cannot be changed retroactively without changes to all subsequent blocks, which requires the majority consensus of the network.
Every second every day, businesses exchange values with suppliers, partners, customers and others. According to the value, what we mean is goods, services, money, data, and others. Every exchange of values is a transaction. Successful transactions must be fast, precise and easily agreed upon by the parties participating in the transaction. Blockchain for business provides a new efficient way to do more of these transactions in a much better way.
Sales Tokens:
Be part of extra opportunities and participate in extraordinary Sales Tokens
ORIGIN Tokens (ORIGIN) are cryptographic utility tokens that are issued to power the ORIGIN Blockchain platform, buy platform-based services, and make transactional payments. Here are all information about ORIGINAL tokens, distribution tokens, and allocation of sales processes.
ICO Structure & Use of Funds:
Roadmap:
March 2018
Project Ideas
Market Research and Ideas about ORIGIN Platforms
December 8, 2018
Launch of ORIGIN
ORIGIN Foundation is officially launched with a global strategic alliance. Start the Development Foundation.
Sloagan
Jan 2019
Items with the slogan "Genuine Insist"
March 2019
ORIGIN application
ORIGINAL Application Development and Personal Token Sales
Q2 2019
Awareness Campaign
Continue the roadshow community and campaign to build ORIGINAL awareness for major countries in Asia.
Q3 2019
Application experiment
The first prototype and trial of the ORIGIN and ORIGIN Blockchain Applications. Hong Kong and Singapore will be the first markets for pilot trials.
Q4 2019
Tokenisation test
Development and initial testing stage for the original Asset tokenisation. Furthermore, roadshows and ASAL campaigns to build public awareness for the United States and European countries.
Q1 2020
QR Code Testing
The first testing phase for the Trademark Owner Supply Chain Trace system at ORIGIN QR Code. Official launch of ORIGIN's Tokenisasi Assets for ORIGIN.
Q2 2020
Official Launch
Official Launch of Trademark Supply Chain Traceability System in ORIGINAL QR Code.
Q3 2020
ORIGINAL Roadshow
ORIGINAL Roadshow and community awareness campaign builder to Australia, New Zealand. ASAL applications are ready to be launched in major Asian countries.
Q4 2020
ORIGINAL Roadshow
ORIGINAL Roadshow and public awareness campaign for EAST center, South America. ORIGINAL applications are ready to be launched in the United States and European countries.
Meet Origin team:
Mike Chay: Co-Founder & CEO
Shirley Choong: Co-Founder & COO
Sylvia Lee: Co-Founder & CFO
Ivan Koval; CTO
Andrew R: Mobile Application Developer
Lilian Chen: Director of Business Development (Asian Region)
Aito Watanabe: Director of Community Development
Danylo Lenko: Senior Software Architect
Royal A: Legal counsel
Yin Yue: Community Development
Sunny Zhang: Software Engineer
Calvin Luo: Business Development
Ji-Hyun Kim: Digital Media Manager
Amanda Millerl: Business Development Director (US / Canada Region)
Lisa Hernandezl: Director of Business Development (European Region)
Technology Partners:
For more information:
