Accomplishments
Application for Counterfeit Prevention in Supply chain using Blockchain Technology
- Abstract
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Counterfeiting is a global problem that affects a wide range of industries such as luxury goods, clothing, food products, pharmaceuticals and more. Proving or disproving the authenticity and quality of an asset can be a challenge because traditional supply chains are long, complex and lack transparency. However, if a producer or manufacturer’s goods are placed on blockchain, those goods will have provenance due to their immutable transaction history, and that will make it difficult to pass off fake products as real. Purpose of the product is to place, track, monitor transactions performed on supply chain between entities which are part of the supply chain (example: Manufacturers, distributors, wholesalers, retailers, consumers).