There can be no good without evil. The globalisation of trade and the rapid proliferation of e-commerce and social media have boosted the capacity of organised criminals to sell fake goods with greater speed and efficacy.
For entrepreneurs Wassim Merheby and Jamil Zablah, the co-founders of blockchain-based traceability start-up Verofax, this is as an opportunity to “fill market gaps” and “empower businesses as well as consumers”.
Abu Dhabi-based Verofax offers a unique solution to businesses looking for compliance and brand protection, including serialisation, traceability and anti-counterfeiting solutions. All products are blockchain registered to prevent forging and tampering.
"Not only authenticity … but the high quality characteristics, such as 'organic' or 'sustainability', can also be verified through Verofax," Mr Merheby, 49, tells The National.
“Manufacturers offering validation can boost sales, reduce negative ratings … whereas, consumers will feel confident and safe when making purchases,” Mr Merheby, a serial entrepreneur from Lebanon, who has worked with companies such as Nokia, Microsoft and Nestle, says.
Users can also trace the product’s condition in transit and check inventory receipts.
Blockchain is a digital chain of transactions that are linked with each other using cryptography – a mechanism for secure communications – on an open ledger. The database is a real-time library of records that are difficult to tamper with since each change creates a new record.
Using Verofax’s blockchain technology, retailers and manufacturers can create a unique identity of their products, in the form of a Quick Response (QR) code or a barcode, which can be scanned to verify authenticity.
It traces the product’s complete lifecycle – from the sourcing of raw materials to post-sale user engagement that allow businesses to gain insightful feedback.
Founded in December 2018 at Abu Dhabi Global Market with an initial investment of $250,000, Verofax has billed close to $200,000 thus far.
Currently, the company is working with only select businesses on their “bespoke products”, Mr Zablah, 43, a Jordanian-Australian says.
It will push out the consumer version of the app in the UAE in the first quarter of 2021, followed by a rollout in Saudi Arabia in the second quarter.
“Verofax helps pharmaceuticals and other consumer goods manufacturers to meet evolving product traceability regulations and growing consumer demand for product safety, security and legitimacy … enhancing trust in their brand,” Mr Zablah says.
“We are helping companies to create ethical as well as responsible brands … helping governments to manage quality standards, compliance requirements and making duty and tax collection a seamless process,” he adds.
The amount of counterfeiting worldwide totalled $1.2 trillion in 2017, which is set to reach $1.82tn by the end of this year, primarily due to the rise in e-commerce platforms, according to a 2018 Global Brand Counterfeiting Report.
By comparison, the global traceability and brand protection market is estimated to reach $55 billion by 2025, with food traceability alone accounting for $22bn, according to Verofax’s own estimates.
Businesses can subscribe to Verofax’s monthly or yearly plans on the basis of their product category and on the number of items they produce.
“The process is very simple. They [businesses] just need to go to our site, subscribe to our service, upload product details, certifications and get started,” Mr Zablah says.
The Covid-19 pandemic upended some of Verofax’s plans for this year. Though it delayed the company's fund raising activities, the start-up's business gradually increased.
“The impact was very negative during the early days of the pandemic, but it turned positive after [a] few months,” Mr Merheby says.
Verofax was in touch with potential investors in Hong Kong, who had committed to a big investment round. But they went into quarantine in January and stopped all communication.
“By the time we terminated our agreement with the Hong Kong investors and started exploring this part of the world, it was already March and nobody was listening to us,” Mr Merheby says.
“It harmed us a lot between March and June … nobody wanted to engage … we thought that the whole business was at risk. But things rebounded from July ... everybody started talking about the importance of validating supply chains as [the] manufacturing of Covid-19 vaccine was on,” Mr Zablah explains.
Verofax has recently closed half of a planned $1 million round.
“Our investors include a UK-based venture capital firm, a Canadian company and a British-Indian investor,” Mr Zablah says, adding that Verofax expects to secure the remaining $500,000 by end of this month or in early January.
With the launch of the consumer side of the app early next year, Verofax expects a boost in earnings and hopes to breakeven by the first half of 2021.
“We had to delay our Saudi launch due to Covid-19 … now we are scaling up very fast and hope to make profit by the end of next year,” Mr Merheby says.
The co-founders say there was a point when they were contemplating an early exit but their plan changed after the launch of Nasdaq Dubai Growth Market in October, a new exchange that aims to help small, fast-growing companies access to capital markets.
“Before this announcement, we were open for an exit if we found a good investor. Now things have changed … we are aiming to get on Nasdaq, get listed regionally and grow our business further,” says Mr Merheby.
The market, which will be operated by Nasdaq Dubai, will allow small and medium-sized companies to sell shares through initial public offerings and is being established as part of the Dubai Future District initiative.
Verofax, which has a workforce of six employees in Abu Dhabi, plans to hire more people in 2021 in different geographies as it expands its business.
“We will be hiring across Asia, Africa and Middle East. Our business model is different," Mr Merheby says. "We need to have people on ground to do in-person meetings and give product demos. We also need staff to run call centres in local languages.”
Verofax recently signed an agreement with Auri, a Kuala Lumpur-headquartered lifestyle brand, to jointly launch its traceability app across Asia. It expects wider adoption by suppliers of fashion and lifestyle products in the Asian market in the first quarter of next year.
The company is currently in the process of finalising a licensing agreement with an undisclosed partner in Africa and will be hiring staff there as well.
Headcount in Asia will almost double to 12 and in Abu Dhabi it will rise to 18.
Verofax is also working with Abu Dhabi health authorities to create traceability technologies to manage the safe delivery of medicines in the emirate.
“We have received a letter of support from the Department of Health, Abu Dhabi, and are working with them to develop innovative products. We have received a similar letter of support from the NHIC [National Health Information Centre], Saudi Arabia, and soon we will start our work there,” Mr Merheby says.
Q&A: Verofax's co-founders Wassim Merheby and Jamil Zablah
Who is your role model?
Mr Merheby: I am so impressed with the work of Tesla's founder Elon Musk. He has taken big risks in his entrepreneurial journey that have rewarded him very well. It is overwhelming to see how he is disrupting so many industries simultaneously. I am a big fan of his passion, energy and ideas … not only me but all entrepreneurs have something to learn from his futuristic vision.
Any suggestion to upcoming entrepreneurs?
Mr Merheby: There are so many and it is really hard to pick one. But my suggestion to fellow entrepreneurs is that it's always important to consult a lawyer before you do anything. It's always advisable to draft a legal agreement to avoid last-minute hiccups. Always make sure that you are 100 per cent covered legally and if that is not the case, never get into any business.
What type of entrepreneur are you?
Mr Merheby: I am definitely a risk-taker but I always try to balance it to ensure I would not take any hasty business decision. I can't afford too many risks, as I also have a family to take care of.
Mr Zablah: I am a mix of a risk-taker and a patient businessman. I prefer taking calculated risks when it is about chasing my dreams and ambitions. I believe if you have a vision to address a next-generation problem then you have to follow a challenging path. Sometimes, it could be entirely out of your comfort-zone … but results will be very fulfilling.
How do you define Verofax in one line?
Mr Zablah: Verofax is an enabler, an OS [operating system] of certainty in transactions in global trade.
What is your mantra to success?
Ms Zablah: Never run after quick gains. Even if you have to wait a little longer for profits because you are following a lengthy and ethical business approach that aims to solve much bigger challenges, it's worth waiting. When all your corners are covered, success and profits will follow you automatically.
Company Profile
Company name: Verofax
Founded: December 2018 at ADGM
Founders: Wassim Merheby and Jamil Zablah
Based: Abu Dhabi
Industry: Blockchain
Funding: Initially self-funded with a $250,000 investment. Recently closed half of a $1m funding round and currently aiming to finalise remaining $500,000 this month or early next month.
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Christopher Robin
Starring: Ewan McGregor, Haley Atwell, Jim Cummings, Peter Capaldi
Three stars
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
The Old Slave and the Mastiff
Patrick Chamoiseau
Translated from the French and Creole by Linda Coverdale
Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199
Dates for the diary
To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:
- September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
- October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
- October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
- November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
- December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
- February 2, 2018 Bodytree will host its 4th annual yoga market.
The bio
Who inspires you?
I am in awe of the remarkable women in the Arab region, both big and small, pushing boundaries and becoming role models for generations. Emily Nasrallah was a writer, journalist, teacher and women’s rights activist
How do you relax?
Yoga relaxes me and helps me relieve tension, especially now when we’re practically chained to laptops and desks. I enjoy learning more about music and the history of famous music bands and genres.
What is favourite book?
The Perks of Being a Wallflower - I think I've read it more than 7 times
What is your favourite Arabic film?
Hala2 Lawen (Translation: Where Do We Go Now?) by Nadine Labaki
What is favourite English film?
Mamma Mia
Best piece of advice to someone looking for a career at Google?
If you’re interested in a career at Google, deep dive into the different career paths and pinpoint the space you want to join. When you know your space, you’re likely to identify the skills you need to develop.
RESULTS
1.45pm: Maiden Dh75,000 1,400m
Winner: Dirilis Ertugrul, Fabrice Veron (jockey), Ismail Mohammed (trainer)
2.15pm: Handicap Dh90,000 1,400m
Winner: Kidd Malibu, Sandro Paiva, Musabah Al Muhairi
2.45pm: Maiden Dh75,000 1,000m
Winner: Raakezz, Tadhg O’Shea, Nicholas Bachalard
3.15pm: Handicap Dh105,000 1,200m
Winner: Au Couer, Sean Kirrane, Satish Seemar
3.45pm: Maiden Dh75,000 1,600m
Winner: Rayig, Pat Dobbs, Doug Watson
4.15pm: Handicap Dh105,000 1,600m
Winner: Chiefdom, Royston Ffrench, Salem bin Ghadayer
4.45pm: Handicap Dh80,000 1,800m
Winner: King’s Shadow, Richard Mullen, Satish Seemar
PROFILE OF SWVL
Started: April 2017
Founders: Mostafa Kandil, Ahmed Sabbah and Mahmoud Nouh
Based: Cairo, Egypt
Sector: transport
Size: 450 employees
Investment: approximately $80 million
Investors include: Dubai’s Beco Capital, US’s Endeavor Catalyst, China’s MSA, Egypt’s Sawari Ventures, Sweden’s Vostok New Ventures, Property Finder CEO Michael Lahyani
How Beautiful this world is!
Fixtures (all times UAE)
Saturday
Brescia v Atalanta (6pm)
Genoa v Torino (9pm)
Fiorentina v Lecce (11.45pm)
Sunday
Juventus v Sassuolo (3.30pm)
Inter Milan v SPAL (6pm)
Lazio v Udinese (6pm)
Parma v AC Milan (6pm)
Napoli v Bologna (9pm)
Verona v AS Roma (11.45pm)
Monday
Cagliari v Sampdoria (11.45pm)
What is Reform?
Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.
It was founded in 2018 and originally called the Brexit Party.
Many of its members previously belonged to UKIP or the mainstream Conservatives.
After Brexit took place, the party focused on the reformation of British democracy.
Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.
The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.
Match info
Deccan Gladiators 87-8
Asif Khan 25, Dwayne Bravo 2-16
Maratha Arabians 89-2
Chadwick Walton 51 not out
Arabians won the final by eight wickets
if you go
The flights
Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.
The hotel
Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.
The tour
Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg
MATCH INFO
Tottenham 4 (Alli 51', Kane 50', 77'. Aurier 73')
Olympiakos 2 (El-Arabi 06', Semedo')
Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ESmartCrowd%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ESiddiq%20Farid%20and%20Musfique%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%2F%20PropTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24650%2C000%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2035%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVarious%20institutional%20investors%20and%20notable%20angel%20investors%20(500%20MENA%2C%20Shurooq%2C%20Mada%2C%20Seedstar%2C%20Tricap)%3C%2Fp%3E%0A
Indoor cricket World Cup:
Insportz, Dubai, September 16-23
UAE fixtures:
Men
Saturday, September 16 – 1.45pm, v New Zealand
Sunday, September 17 – 10.30am, v Australia; 3.45pm, v South Africa
Monday, September 18 – 2pm, v England; 7.15pm, v India
Tuesday, September 19 – 12.15pm, v Singapore; 5.30pm, v Sri Lanka
Thursday, September 21 – 2pm v Malaysia
Friday, September 22 – 3.30pm, semi-final
Saturday, September 23 – 3pm, grand final
Women
Saturday, September 16 – 5.15pm, v Australia
Sunday, September 17 – 2pm, v South Africa; 7.15pm, v New Zealand
Monday, September 18 – 5.30pm, v England
Tuesday, September 19 – 10.30am, v New Zealand; 3.45pm, v South Africa
Thursday, September 21 – 12.15pm, v Australia
Friday, September 22 – 1.30pm, semi-final
Saturday, September 23 – 1pm, grand final
Company Profile:
Name: The Protein Bakeshop
Date of start: 2013
Founders: Rashi Chowdhary and Saad Umerani
Based: Dubai
Size, number of employees: 12
Funding/investors: $400,000 (2018)
UAE WARRIORS RESULTS
Featherweight
Azouz Anwar (EGY) beat Marcelo Pontes (BRA)
TKO round 2
Catchweight 90kg
Moustafa Rashid Nada (KSA) beat Imad Al Howayeck (LEB)
Split points decision
Welterweight
Gimbat Ismailov (RUS) beat Mohammed Al Khatib (JOR)
TKO round 1
Flyweight (women)
Lucie Bertaud (FRA) beat Kelig Pinson (BEL)
Unanimous points decision
Lightweight
Alexandru Chitoran (ROU) beat Regelo Enumerables Jr (PHI)
TKO round 1
Catchweight 100kg
Marc Vleiger (NED) beat Mohamed Ali (EGY)
Rear neck choke round 1
Featherweight
James Bishop (NZ) beat Mark Valerio (PHI)
TKO round 2
Welterweight
Abdelghani Saber (EGY) beat Gerson Carvalho (BRA)
TKO round 1
Middleweight
Bakhtiyar Abbasov (AZE) beat Igor Litoshik (BLR)
Unanimous points decision
Bantamweight
Fabio Mello (BRA) beat Mark Alcoba (PHI)
Unanimous points decision
Welterweight
Ahmed Labban (LEB) v Magomedsultan Magomedsultanov (RUS)
TKO round 1
Bantamweight
Trent Girdham (AUS) beat Jayson Margallo (PHI)
TKO round 3
Lightweight
Usman Nurmagomedov (RUS) beat Roman Golovinov (UKR)
TKO round 1
Middleweight
Tarek Suleiman (SYR) beat Steve Kennedy (AUS)
Submission round 2
Lightweight
Dan Moret (USA) v Anton Kuivanen (FIN)
TKO round 2
How to get there
Emirates (www.emirates.com) flies directly to Hanoi, Vietnam, with fares starting from around Dh2,725 return, while Etihad (www.etihad.com) fares cost about Dh2,213 return with a stop. Chuong is 25 kilometres south of Hanoi.
The specs: 2019 Mini Cooper
Price, base: Dh141,740 (three-door) / Dh165,900 (five-door)
Engine: 1.5-litre four-cylinder (Cooper) / 2.0-litre four-cylinder (Cooper S)
Power: 136hp @ 4,500rpm (Cooper) / 192hp @ 5,000rpm (Cooper S)
Torque: 220Nm @ 1,480rpm (Cooper) / 280Nm @ 1,350rpm (Cooper S)
Transmission: Seven-speed automatic
Fuel consumption, combined: 4.8L to 5.4L / 100km
Anti-semitic attacks
The annual report by the Community Security Trust, which advises the Jewish community on security , warned on Thursday that anti-Semitic incidents in Britain had reached a record high.
It found there had been 2,255 anti-Semitic incidents reported in 2021, a rise of 34 per cent from the previous year.
The report detailed the convictions of a number of people for anti-Semitic crimes, including one man who was jailed for setting up a neo-Nazi group which had encouraged “the eradication of Jewish people” and another who had posted anti-Semitic homemade videos on social media.
Moving%20Out%202
%3Cp%3E%3Cstrong%3EDeveloper%3A%3C%2Fstrong%3E%20SMG%20Studio%3Cbr%3E%3Cstrong%3EPublisher%3A%3C%2Fstrong%3E%20Team17%3Cbr%3E%3Cstrong%3EConsoles%3A%3C%2Fstrong%3E%20Nintendo%20Switch%2C%20PlayStation%204%26amp%3B5%2C%20PC%20and%20Xbox%20One%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
Salah in numbers
€39 million: Liverpool agreed a fee, including add-ons, in the region of €39m (nearly Dh176m) to sign Salah from Roma last year. The exchange rate at the time meant that cost the Reds £34.3m - a bargain given his performances since.
13: The 25-year-old player was not a complete stranger to the Premier League when he arrived at Liverpool this summer. However, during his previous stint at Chelsea, he made just 13 Premier League appearances, seven of which were off the bench, and scored only twice.
57: It was in the 57th minute of his Liverpool bow when Salah opened his account for the Reds in the 3-3 draw with Watford back in August. The Egyptian prodded the ball over the line from close range after latching onto Roberto Firmino's attempted lob.
7: Salah's best scoring streak of the season occurred between an FA Cup tie against West Brom on January 27 and a Premier League win over Newcastle on March 3. He scored for seven games running in all competitions and struck twice against Tottenham.
3: This season Salah became the first player in Premier League history to win the player of the month award three times during a term. He was voted as the division's best player in November, February and March.
40: Salah joined Roger Hunt and Ian Rush as the only players in Liverpool's history to have scored 40 times in a single season when he headed home against Bournemouth at Anfield earlier this month.
30: The goal against Bournemouth ensured the Egyptian achieved another milestone in becoming the first African player to score 30 times across one Premier League campaign.
8: As well as his fine form in England, Salah has also scored eight times in the tournament phase of this season's Champions League. Only Real Madrid's Cristiano Ronaldo, with 15 to his credit, has found the net more often in the group stages and knockout rounds of Europe's premier club competition.
Two products to make at home
Toilet cleaner
1 cup baking soda
1 cup castile soap
10-20 drops of lemon essential oil (or another oil of your choice)
Method:
1. Mix the baking soda and castile soap until you get a nice consistency.
2. Add the essential oil to the mix.
Air Freshener
100ml water
5 drops of the essential oil of your choice (note: lavender is a nice one for this)
Method:
1. Add water and oil to spray bottle to store.
2. Shake well before use.
