Blockchain Goes On A Brand Protection Mission, Fights Counterfeiting
Counterfeiting and brand misrepresentation can be fought using the Blockchain technology in conjunction with other collaborative entities. Say experts. We can attach a smart token to a Gucci purse to “prove” it is real. Counterfeiting and brand misrepresentation are issues that have been tricky to handle by internet users. Product protection, especially for artists have posed an insurmountable task due to the anonymous nature of the internet. Even when counterfeiting and brand misrepresentation is detected, managing such cases have also been difficult. Jurisdiction, location, adequate....
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The European Union has released a new €50 note with advanced security features as a measure to fight counterfeiting. Unlike its multiple fiat counterparts, counterfeiting is not a problem with Bitcoin. Europe's New €50 Note. The €50 note is the most widely used in circulation, accounting for 45% of all euros in circulation. As such, it is a prime target for counterfeiters. The European Central Bank has therefore implemented multiple new security features in the notes, which counterfeiters will find hard to replicate. These include a hologram of Europa (a figure from Greek mythology), a new....
The European Union (EU) is working on a project that involves blockchain architecture and the use of non-fungible tokens (NFTs) to fight counterfeiting and forgery. The project is the product of several meetings and blockchain hackathons organized by the European Union Intellectual Property Office and proposes to create digital twins of products to trace their path across supply lines.
European Union to Use NFTs to Protect Intellectual Property
The European Union has recently announced that is working on a system that will use blockchain and NFTs as part of its fight against the....
Blockchain Engine and Petrodvorets Watch Factory have introduced blockchain technology into the manufacturing process of Raketa watches, making Raketa one of the first companies in the world to record the production of physical goods in the blockchain. Established by Peter the Great in 1721, Petrodvorets Watch Factory is one of Russia’s oldest businesses. After the Second World War, the factory produced watches under the brand name Pobeda until 1961, when production of the Raketa [Rocket] watches started, named in honor of the first flight into space by Yuri Gagarin. In a bid to....
REV3AL, a new and innovative cryptocurrency project, comes at a critical time in the crypto sector when scams and fraud are on the rise. As a solution to the hindering growth of the digital media market, REV3AL offers digital copyright protection and anti-counterfeiting solutions for artists, creators, and intellectual property owners. With its multi-layer authentication and anti-counterfeiting protocol, REV3AL hopes to play a major role in protecting digital media, on platforms such as NFT market places, gaming platforms and the metaverse. Venture capital firms and private investors have....
Counterfeiting is a matter near and dear to all of our hearts, albeit fighting this trend seems all but impossible. Despite best efforts by government officials around the world, more and more counterfeit goods are making their way to legitimate marketplaces near you. Blockchain technology will play an important role in the battle against counterfeit goods, assuming manufacturers are willing to do something about this problem in the first place. To give you an example of how lucrative the counterfeiting business can be, it’s not just about printing fake currency bills. Fake goods, on the....