A Blockchain-Based Approach to Counterfeit Prevention

A Blockchain-Based Approach to Counterfeit Prevention

In recent years, the prevalence of counterfeit goods in the industrial sector has increased. The company's reputation, sales, and profitability are impacted by this. In recent times there has been a sudden rise in Blockchain technology all thanks to cryptocurrencies. This rise in the technology...

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Bibliographic Details
Published in:2023 3rd International Conference on Mobile Networks and Wireless Communications (ICMNWC) pp. 1 - 7
Main Authors: S, Supriya M, Narang, Mridula G, K, Prajwal G, Shetty, Sohan S, Patil, Anurag
Format: Conference Proceeding
Language:English
Published: IEEE 04-12-2023
Subjects:
Anti-counterfeiting
Blockchain
Blockchains
Counterfeit products
Counterfeiting
Cryptocurrency
Decentralization
Ganache
Manufactured products
Metamask
Profitability
QR codes
Truffle
Wireless communication
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Summary:In recent years, the prevalence of counterfeit goods in the industrial sector has increased. The company's reputation, sales, and profitability are impacted by this. In recent times there has been a sudden rise in Blockchain technology all thanks to cryptocurrencies. This rise in the technology helped increase research about Blockchain and its uses in various domains, Blockchain technology being known as tamper proof helps in solving the problem where the integrity is in question. This paper discusses the working and implementation of product counterfeit prevention systems using Blockchain technology. This system uses a product-specific QR code generated by the manufacturer to store the product details and an Ethereum-based Blockchain network to store all the product and transaction details. Using this system the consumer can be completely sure about the product's credibility and the manufacturer can safeguard their business interest by reducing the circulation of fake products which can damage their reputation and financial aspects.
DOI:10.1109/ICMNWC60182.2023.10435765