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Black Friday is upon us, kicking off the holiday shopping season. While millions are scouring shopping malls for the best deals, GPU-powered technology from a promising startup, Cypheme, could be used to scrutinize the items in our carts to ensure they’re the genuine article. Cypheme’s quest began when the mother of one of its four cofounders nearly died from taking counterfeit medicine. He and three friends — who had been working together on a different project in Silicon Valley — decided to start a crusade against counterfeit goods.
Counterfeiting is a worldwide problem, particularly affecting three major categories of products: drugs and medicines, luxury goods (including alcoholic beverages) and consumer electronics. Each can pose risks to consumer and worker safety, from dangerous side effects to toxic components. Yet the counterfeit industry generates hundreds of billions of dollars a year, according to the United Nations Office on Drugs and Crime.
Counterfeiting is a worldwide problem, particularly affecting three major categories of products: drugs and medicines, luxury goods (including alcoholic beverages) and consumer electronics. Each can pose risks to consumer and worker safety, from dangerous side effects to toxic components. Yet the counterfeit industry generates hundreds of billions of dollars a year, according to the United Nations Office on Drugs and Crime.