Humans associate a lot of value predicated on the idea behind items. For example many fake works of art have held value because no one could tell the difference between them and an original. There is an invested history with a lot of things that cannot be erased and demands recognition. And yet despite years of value, upon discovery of owning a fake no one is less than offended when they have paid for something that was anything less than they intended to buy. Anyone in that position would gladly look towards prevention of purchasing something unauthentic again, and crypto-utilities have the potential to greatly change assurances to buyers and sellers of anything, not just art.

 

As an example with art it is a process to authenticate old art, and new art has no real authenticating authority. When you are looking at a believed Salvador Dali you need to authenticate it as a seller and buyer. This happens often, even when forms of historical authentication are presented because there is no end to the ingenuity of creating and authenticating fakes. On the other hand for new artists the only way is to have the artist themselves take a look, and maybe an official of a gallery that had hosted the artist/sold the work. With crypto-utilities it's possible to make a token(s) for a specific artist, which only they can then distribute. Every art work can be given it's own token with a unique identifier. So long as it is on the ledger that is decentralized globally, it is entirely immutable. Every sale of the piece can have a record included with the transfer of the token. With smart contracts there is the ability to authenticate the movement by including citation, escrow w/ record, and more.

 

Compared to using experts, galleries, and trying to get in contact with an artist, the crypto-utility route is rather easy. It takes nothing to maintain, always accessible, and only costs tiny, tiny, amounts when moving tokens (pennies or less). And it can even be used for a transaction where you eliminate the need to authenticate payment since on cryptos it is yes or no, allowing purchasing internationally with ease where only the host needs to account for sales tax and there is no wait between banks and clearing houses.

 

Art however is not the only faked item on the market. The ability of a crypto-utility can extend to high fashion items, vintage cars, food, and more. We may even see custodians of wallets that have the authentic token, such as a bank & third parties, for all the collected items a person may have. When a sale happens that token is transferred. By doing so it is not possible to duplicate the “bar code” or token address anymore than you could double spend on the crypto being used. Simply putting a label on the item would not be enough, you need the token. By doing this a person would have an itemized list as proof of ownership for high ticket items. That could be very valuable in the event of a fire, where you can clearly show the loss to an insurance company. In order for the insurance company to process the claim you could transfer the tokens of the lost items to a burned wallet*. Even if the person claiming the loss still had the item, it's value would plummet due to the loss of the token that authenticates it as being an original & sellable.

 

Farmers, boutique food stores, health food stores, and any similar entity could use crypto-utility authentication to increase their value. As an example a wood sunglasses/glasses maker could attach a token from them as the designer and one from the wood supplier. They could authenticate that you're getting an original, say off of eBay, and not a Chinese knock-off. The other token could show that sustainable wood was purchased by the maker of the glasses. Discrepancies could be seen between the amount of glasses made and wood purchased, if they changed their sourcing. In that example one has to trust both the glasses maker and the wood supplier to some degree. But that's what people are already willing to do, as they purchase products based on the assumption that it's description is accurate. For example the Non-GMO project benefits from cooperative organizing that gives them credibility for their label on products.

 

Crypto-utility use certainly is a bigger step forward in transparency that isn't complicated and costly. Using cryptos for the entire supply chain is not only easily trackable, but immutably authenticatable. For many businesses that ability to put their immutable stamp of approval means more revenue as people can believe in the product, and the fakers will lose revenue.

 

If cryptos gain adoption for authentication it would reduce a lot of infrastructure that costs too much money for lack-luster authentication. We'll see new regular uses for them - you won't be buying Mexican coffee beans when you ordered Columbian. It'll be possible to use a smart phone to check if ingredients/materials are disclosed, and if so you'll know if you are buying ethical/unethical items. You wouldn't have to evaluate the trust level of the seller, and if you want a fake you'll only pay fake prices. In the future you might be able to actually buy what you want without too much trouble.

 

*Burned wallet's have no access as the private key is unknown to all, so all cryptos including tokens sent to them are forever lost.