Blockchain Technology Can Bring Counterfeit To A Halt
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....
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Counterfeit goods and ingredient sis a major threat to not just the financial ecosystem, but to the health of consumers around the world. Boston Scientific is the latest company being called out on using counterfeit ingredients, which could severely affect consumer health. If only these companies had used blockchain technology to ensure all of the materials used were genuine, this class action lawsuit would have been prevented. There is no denying the blockchain offers plenty of use cases that will affect the everyday life of both consumers and businesses all over the world. Most consumers....
While I was attending the Inside Bitcoins Berlin conference over the past few days, all of the event’s guests were treated to a surprise announcement made by the people over at Block Verify. This unexpected intermezzo had everything to do with using the blockchain technology in such a way that can benefit each and every one of us : combating counterfeit products and goods. Block Verify believes the blockchain holds the technology needed to combat counterfeit goods on an universal scale. Block Verify will use an advanced blockchain solution to allow monitoring of the whole supply chain....
A sneaker manufacturer has used blockchain technology to create smart tags that can track their sneakers to the factory, so they are impossible to counterfeit, according to fastcodedesign.com. The manufacturer, Greats, tapped the services of a software authentication system and a 3-D printer to design the smart tags. The tags include an NFC chip that can be scanned with a smart phone. The smart tag records the sneakers’ history all the way to its creation. A Way To Battle Counterfeiters. The technology could prove to be a promising way to battle the $600 billion counterfeit fashion....
At a working group meeting of the Hyperledger blockchain project today, a representative for global professional services company Accenture pitched the early phases of a project designed to fight the spread of counterfeit drugs using blockchain technology. The details came during a meeting of the initiative's working group focused on project requirements. Accenture's connected devices software lead Primrose Mbanefo, who works with its Internet of Things business development team and helps produce some of the company’s proofs-of-concept, described how more efficient tracking of medicines....
E-commerce is a booming business, as more and more consumers complete their purchase online. But there is one major problem plaguing both e-commerce and brick-and-mortar shopping, and that is counterfeit goods. Verifying the integrity of a product, especially when it is sold by a third-party vendor, is impossible until it arrives at the recipient’s doorstep. Alibaba, one of the largest e-commerce platforms in China, launched TaoProtect for counterfeit reporting purposes. Even though Alibaba is often referred to as the largest e-commerce platform in China, there has been vast interest from....