NFT Enhanced Fake Product Detection System
Soham Parate, Krishna Biradar, Shruti Magdum, Atharv Lamkhade, Pranav Shriram · 2023
The fake product identification system is a solution to the problem of counterfeit products that are prevalent in many markets. Counterfeiting is a significant issue that can cause harm to consumers, damage brand reputation, and result in lost revenue for legitimate manufacturers. The proposed solution for the fake product identification system is to use blockchain technology and NFTs to create a secure and transparent system for product identification. The proposed system will utilize uniquely generated codes to provide a visual indication of authenticity and scanning the code will allow the customer to redeem an NFT. The proposed system can be used in a variety of markets, including pharmaceuticals, electronics, luxury goods, and more. By implementing a fake product identification system, manufacturers can provide consumers with a way to verify the authenticity of products, increase brand trust, and reduce the negative impact of counterfeiting on their businesses.