E-commerce is growing rapidly. The need for verified suppliers from China is more than ever as many new and inexperienced buyers fall to scams of illegitimate suppliers. Libellum’s aims to connect buyers, suppliers and third party test laboratories (who issue certificates).
Take for example a foreign buyer who wants to purchase/manufacture a product in China for the first time. For him to verify supplier authenticity, He either has to hire a sourcing company with reputable suppliers, a third party testing and auditing company (e.g. TUV, SGS) or fly to China personally.
Furthermore, a buyer from overseas has to comply with international laws, product regulations and compliances set out by the governing bodies and authorities. The buyer has to either fully trust a supplier’s documents and certificates or hires a third party testing company.
Unfortunately, faking certificates is a common practice amongst dodgy suppliers.The only way for the buyer to verify the certificate validity is for them to call or email the third party that issued the certificate. This not only results in unnecessary costs to the buyer, but more importantly, reduces the trust in the system as the process is slow and time-consuming.
Libellum works to solve this problem by enabling clients to lookup a certificate or test report number (provided by a supplier) on Libellum’s interface. If said certificate has really been issued at some point in time the interface will have all the supplier and product information — that at some point has been verified by a third party inspection company. Hence the buyer can immediately verify the authenticity of the certificate via Libellum. Libellum will implement 2 core technologies to make sure the system is safe for the buyer:
- A digitally encrypted QR code that has all the supplier information and is verified by third-parties.
- Data is stored on Libellum’s blockchain, which allows for the data to be immutable and transparent.
Thus allowing buyers to purchase from verified suppliers. (Due Diligence on manufacturing process has to be done from the client’s side nonetheless with the supplier).
Libellum was founded by Manuel Becvar in 2018. Manuel has been working with China for the last 15 years. In all those years there is one topic and questions related to working with factories in China that always come to mind: How can I trust a supplier in China? How can I find out if a supplier is legitimate or not?
In the last 4 years Manuel has been working on educating people through his well visited blog (Import Dojo) and online courses. While trying his best to educate everyone and give people warning signs of a bad supplier there are always those suppliers that can slip through the net. Many suppliers fake test reports or audit reports unbeknownst to customers.
Many customers have been asking how to verify a certificate/test report? While some Third Parties Testing Companies offer to verify these reports it is inconvenient and not always accessible.
Previously Manuel would recommend a customer who asked him how to verify, to contact the issuing Testing company to verify. Moreover many local Chinese testing companies are unknown, issue reports in Chinese and are difficult to verify by a customer.
With the emerging Blockchain technology, our Libellum platform and partnering with Third Party testing companies this problem is eradicated. Now both suppliers and their test reports (issued by verified Third Party Testing companies) can get verified via the unchangeable and 100% safe Blockchain technology.
The aim of Libellum is to make information about manufacturers accessible in one platform. Currently, information and verifying a supplier (e.g. in China) is either hard to find, incorrect, or inaccessible. We aim to solve these major problems in the manufacturing and logistics industry.
Libellum Token & Pre-Sale Details
Libellum will run it’s pre-sale stage from the 1st September until September 30th 2018. Here are the details for our upcoming token sale:
- Website: www.libellum.io
- Total Supply: 100,000,000 LIB
- Tokens Available For Pre-Sale: 40,000,000 (40% of Total Supply).
- Libellum Ticker: LIB
- Price per LIB token: 1 LIB = $0.08 (Pre-sale) 1 LIB = $0.10 (Public Sale).
- Whitelist Registration
USE OF PROCEEDS
We will release more information in the coming weeks. We’re extremely excited to make our Libellum project public and look forward to have you participate in our pre-sale and token sale stages.
If you want to request more information about the Libellum blockchain and token sale, please contact us at [email protected] or via our social media channels:
Thank you for your support!