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VeChain-based solution will verify products in $124 billion industry

  • Health Evolution’s partnership with VeChain will allow users to track and verify products in the supplement supply chain.
  • VeChain-based solution will protect consumers from purchasing deceptive products by verifying the source of their ingredients.

The US-based company Health Evolution has announced a cooperation with the startup Real Items and VeChain. The partnership is part of an effort to “verify the authenticity of $124 billion” in the supplement industry, according to a press release.

Health Evolution wants to increase transparency and protect the consumer by creating a solution based on blockchain technology. In this way, companies “fight against a poor physical and mental condition” with products of higher verifiable quality. So far $368,500 in clinically proven ingredients have been verified with the VeChainThor blockchain. Co-founder and research coordinator at Health Evolution, Angela Wright said:

Supplement fraud is widespread. Now we are at the forefront of providing consumer protection in the $124 billion dollar supplements industry.

VeChain empowers and protects consumers

The partners have revealed that with verification made possible by Real Times and VeChain’s non-fungible tokens, consumers can verify the origin, authenticity, quantity, and even quality of the effectiveness of the supplements they will purchase. In addition, they will be able to do so with each product unit individually:

The VeChain Foundation NFT (Non-Fungible Token) Standard in conjunction with Real Items proves that consumer items are the real thing, through the use of “smart contracts”. This makes it impossible for an item to be fraudulent.

According to the statement, about 170 million people in the United States take dietary supplements. This constitutes 71% of the adults in the country. Therefore, the supplement industry and its estimated $124 billion is a constant target of counterfeit products, scams, and other attacks on consumers. In addition, the industry lacks efficient regulations. Dr. Jill Carnahan, an expert in functional medicine, stated:

This is an industry that has almost no regulation. This means we are guinea pigs unless we choose to take matters into our own hands. As a doctor, what comes to mind when I hear all of this is the growing issue of fake supplements.

The research coordinator for Health Evolution added that the company is “excited” to be able to innovate in the industry and bring “real products” to consumers. Carnahan further explains:

Now, finally, consumers can have blockchain-level security and peace of mind, knowing each bottle has cast-iron independent irrefutable proof of contents.

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Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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