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Blockchain: The Anti-Counterfeiting Weapon

  • Unique Paper ID: 167358
  • Volume: 11
  • Issue: 3
  • PageNo: 930-935
  • Abstract:
  • Counterfeit goods pose a significant challenge to consumers worldwide, who often find themselves unwittingly purchasing inauthentic products without reliable means of verification. Blockchain technology, gaining prominence for its ability to establish trust among distrustful parties, presents a promising solution to combat this issue. This paper proposes a blockchain-based approach to address the sale of counterfeit products, wherein manufacturers can securely register authentic product serial numbers on a distributed ledger. Consumers can then leverage these serial numbers to authenticate products prior to purchase, thereby mitigating the risk of falling victim to counterfeit schemes. Blockchain technology ensures the integrity of data by preventing tampering, thereby fostering a trusted environment for transactions. Leveraging Ethereum's smart contract capabilities, the system automates the verification process based on predefined criteria, reducing reliance on intermediaries and bolstering security measures. This innovative application of blockchain technology not only safeguards against counterfeit goods but also empowers consumers with greater confidence in the authenticity of their purchases.
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Cite This Article

  • ISSN: 2349-6002
  • Volume: 11
  • Issue: 3
  • PageNo: 930-935

Blockchain: The Anti-Counterfeiting Weapon

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