By Nnamdi Odumody
Chekkit Technologies, founded by Dare Odumade, provides cutting-edge solutions for product distribution tracking and consumer intelligence through blockchain and QR/USSD-powered anti-counterfeiting services which make physical products smart and traceable across supply chains offline and online.
Chekkit is an Ethereum blockchain powered anti-counterfeiting, product tracking and customer experience analytics platform. It is a software company leveraging automation, blockchain, big data and Internet of things technologies to provide anti-counterfeiting security, real-time consumer data analyses and procurement automation for trade and strengthening supply chain integrity.
Its innovative products include:
- Consumer Intelligence Platform: It provides product anti-counterfeiting, brand protection and real time market insights. Currently in use by two leading FMCG brands in Nigeria and has registered over 30,000 consumers data and authentication within 3 months with one million naira worth of airtime distributed. It helps FMCG and Pharmaceutical brands gain Return On Investment for all promotional/marketing and brand protection spends.
- Supply Chain Tracking Platform: This helps in product distribution and inventory/asset tracking. This is a proprietary/disruptive innovation an asset distribution tracking solution without any need for sensor enabled device to monitor truck movement in real time. It has 10+ medium and large scale distributors in Nigeria, Ghana and Kenya onboard to track fleet of 100 trucks and above.
This tools helps its customers save time, prevents their stock running out and ensures end to end transparency throughout the product supply chain/distribution process.
Chekkit is a needed solution considering the fact that a report by the ICC and BASCAP stipulates that counterfeiting will cause an economic loss of $4.2 trillion and jeopardize over 5.4 million legitimate jobs by 2022. The National Bureau of Statistics reports that NAFDAC seized fake and substandard goods worth 3 billion naira in 2017.