CIR FAQ
The Company

checkitsreal is an app-based ecosystem built on Blockchain technology to support product verification and traceability which helps detect and eliminate counterfeit products.

Counterfeit products are a staggeringly huge problem. As a business it is worth over $1.7 trillion annually. With over 40% of goods sold by the top 5 online retailers being fake, this affects us all.

Counterfeit actors mass produce counterfeit products, usually in low cost markets. It is an industry of scale. checkitsreal makes it uneconomic for a counterfeit actor to produce a fake version of a product protected by checkitsreal by facilitating easy detection across the supply chain and even by the consumer.

Every individual product is tagged with its own unique encrypted checkitsreal tag, with the details of the product being written to the CIR Blockchain. The end consumer or any agent along the supply chain simply scans the product using the CIR app and can tell immediately if the product is authentic or fake. Scanning of the CIR can be configured to mark the product as sold to prevent copying or re-use of CIR codes.

The checkitsreal team first started working on developing this solution in May 2017. CIR is implemented on a private hosted Blockchain and checkitsreal apps are live on Google Play and the App Store. CIR’s backend infrastructure is fully operational, allowing checkitsreal customers to request their own QR codes. The CIR system, as it stands, is live, robust, highly scalable and secure.

We have lots still to do. We are working on developing several add-ons to our apps and data interchange protocols, focusing on bringing the consumer and the manufacturer closer together with full auditing and reporting capabilities. We will also be supporting full product traceability and reporting across the supply chain and our system will be DSCSA compliant by end of 2018. We are also working on developing specific functionality for key customers and we are developing a checkitsreal customer portal.

We have launched checkitsreal ID, whereby consumer identification can be verified using the checkitsreal app. There are many use cases for checkitsreal ID but a key feature will be support for "Tap to Register". Our target is to make this term synonymous with checkitsreal ID!

In the medications domain, several enhancements are ongoing which make the CIR app usable off line. This is a major issue for developing countries, where 30% of all medicine is fake. CIR verification and traceability will provide the forensics to identify and eliminate many sources of counterfeit product.

Checkitsreal is very customer driven. Our R&D roadmap is long! The order in which we develop functionality will be primarily market driven. This roadmap will be managed by the CIR team, which has a strong track record and both commercially and technically with a rich skillset developed across many business domains.

We are excited about some new customer deals in the pipeline and have some very interesting partnerships which we will be announcing shortly.

The Company

We have actually quite a large team for our stage of development! The company was set up by Charlie Sherlock and Christopher Karatzinis. Charlie has started and been instrumental in growing several successful start-ups, both in Ireland and internationally. He has extensive experience in developing new products, bringing them to market and even opening new markets in the process. He has run the full lifecycle from product inception to company exits with trade sales.

Christopher is an amazing guy! He is possessed of a rare technical genius with particular expertise in security applications and more recently in Blockchain development. Christopher has started and has run several software and consultancy companies, so he has strong commercial acumen as well.

Martin Wickham is our COO. Martin is one of the most experienced and strategic COO’s in the business with a track record for innovation and early technology adoption. Martin was previously CIO for BT for nearly 10 years, and was previously IT director of Gateway, Lucent and Apple. Martin coaches CIO’s/COO’s and is an organisational wiz! He is an amazing asset to checkitsreal to help us build out the team and operational side of the business.

John Hand is our SVP Technology and Architecture. Previously Global Head of Data Architecture and Information Services for the HSBC Group, John is a very experienced program manager managing international projects with budgets in excess of €100m and the experience of running an IT Development teams in excess of 4,000 personnel in multiple countries around the world. His experience, contacts and his quite brilliant commercial acumen are a huge plus for us.

Liz Sherlock is our CFO and brings 15+ finance experience to the table. She is also an investor, and indeed Charlie’s (long time suffering) wife!

The marketing team is shored up with two brilliant contributors: Sean Honan and Ron Immink. Sean is one of the industry’s best at running marketing campaigns, whilst Ron is famous for his books on future trends and innovation and his work with start ups and companies such as RBS, Sustainable Nation (part of Climate-KIC) and StrategyCrowd.

On the customer sales side, Gavin McWhirter is looking after the UK market for CIR and Georgia Tzampazi is responsible for customer services and compliance. We also have two more IT geniuses responsible for Blockchain (Michalis Pelekanos) and IT architecture (Stratos Zolotas).

Our team is rapidly expanding, so don’t expect this list to stay static for too long!!!

CIR has a few strategic advisors who work behind the scenes, but the two who are public facing are Simon Cocking and George El Aily. Simon, as anyone in Irish tech knows, is one of the top ICO advisors today. Simon has been involved in tech forever and has an amazing list of contacts coupled with superb experience. Simon gets many invites to be an ICO advisor every day, so we are thrilled to have him working with us.

Our second strategic advisor is someone really special. George El Aily is the founder and CEO of an international telecommunications infrastructure company (Kleos) which is today valued at over €500m. He is involved in a number of other businesses, both in technology and medicine. George holds many international patents and has been involved in significant M&A and fundraising activity. George is probably the most brilliant technical and commercial person one is likely to come across and we are truly honoured to have him on board.

Market Size and Growth

There are a staggering number of markets to which we can apply our solution. Right now, we are looking at luxury brands, apparel, meds and high-end infrastructure. These sectors alone count for $400 billion in fake goods annually.

Our growth plans are very significant. The two key areas for us to invest in are R&D to develop new functionality to address specific use cases and Sales. One of the challenges of this market is that it is so big that if you use a ‘scattergun’ approach you are in danger of losing momentum. We are a focused group and have specific market segments which we are working on.

We also have a very interesting strategy for the meds side. We can’t go into this in detail right now, and it will take some time to mature, but stay tuned… We also plan to be Drug Supply Chain Securities Act (DSCSA) and Falsified Medicines Directive (FMD) compliant and have full end to end solutions for same by mid 2019.

We plan to be the world’s leading product authentication and traceability solution by 2020.

The ICO

We are launching our ICO series on Friday, 6th April. The first round will be an invite only round. We expect this round to be fairly small (circa $1m) and it will give us time to ensure that our KYC processes are robust. Two other ICO rounds will follow. The pre-ICO will launch on 1st June and the ICO itself will commence on 6th July. We have a hard cap of $20m and we will be issuing 60m CIRTokens during the process.

The token is called CIRToken, and is based on the Ethereum ERC20 token standard.

Checkitsreal are in contact with several exchanges and are working through the on-boarding process. This page will be updated as progress is made.

Individuals who are resident or domiciled in certain countries are precluded from participating in the CIRToken sale. Accordingly, before any individual is given access by checkitsreal to purchase CIRTokens, checkitsreal will request specific identification information and documents. Only when the KYC process has been passed will any individual be allowed purchase CIRTokens.

When an individual successfully registers with checkitsreal, and they have completed the KYC process, that individual will be given wallet details on the checkitsreal.io portal. The individual will also be given a unique identifier to send along with their currency transfer.

ONLY USE THE WALLET ADDRESS WHICH YOU RECEIVE WHEN YOU LOG INTO THE CHECKITSREAL.IO PORTAL. CHECKITSREAL WILL NEVER EMAIL YOU A WALLET ADDRESS OR SEND NEW ADDRESSES VIA ANY FORM OF SOCIAL MEDIA.

CIRTokens are issued automatically when the ICO round is open. CIRTokens will be sent to the same wallet address as the cryptocurrency was sent from.

In this instance your original currency will be transferred back to the originating wallet. However you will only be given a valid checkitsreal wallet address when you have completed the KYC process.

Coin Name
BTC Bitcoin
BCH Bitcoin Cash
ETH Ethereum
ETC Ethereum Classic
LTC Litecoin
DSH Dash
ZEC ZCash

YES! Additional tokens are issued to any individual who recommends another. The additional bounty tokens are issued as a percentage of the amount purchased by the recommended individual.

You will need an active account on checkitsreal.io in order to purchase and receive CIRTokens.

Go to www.checkitsreal.io and click on the button “My Account”

This brings you into our secure account handling site.

Click the button “Register a new account”

You will be asked for a valid email address and cell phone number. You will be asked to verify your email and an SMS will be sent to your phone with a one time code to verify your phone number.

After completing these steps you will be asked to create a password for your account, with your userid being your validated email address.

Please note that residents or persons domiciled in the US, China and Singapore are prohibited from participating in the ICO. You will not be allowed register on the site if your IP address or phone number corresponds to these countries.

Once you have an account on checkitsreal.io, and in order to participate in the ICO’s, you will be asked to complete a KYC process. We will ask for specific personal and address details and will require a copy of your passport to be uploaded to the site.

Finally, you will link an altcoin wallet address to your account. This links your wallet ID and your personal ID in our database, and allows us to verify that we only allow KYC approved people participate in the ICO itself.

ICO’s are a fairly new process and the regulations pertaining to same are only in their infancy. Whilst there are no specific regulations around KYC in existence at present, it is prudent and best practice to adopt a full and robust KYC/AML Compliance process from the very start.

Additionally, specific countries have enacted laws to restrict their citizens from participating in ICO’s. We need to ensure that we respect these laws by doing as much as we can to ensure that individuals who are citizens of or domiciled in are precluded from ICO participation.

We reserve the right to employ specialist third party KYC companies to assist us in the KYC verification process. In that instance KYC information will be shared to ensure best practice compliance.