Decentralized System for Counterfeit Product Detection using Blockchain Technology
Umang Rastogi, Dhruv Jain, Dhruv Gaur, Sushil Kumar · 2024
This research presents a decentralized system that utilizes blockchain technology to improve the detection of counterfeit products, in response to the increasing risk they provide. Presently, centralized systems suffer from risks such as data tampering and the presence of single points of failure. This research adds to the ongoing issues around the prevention of counterfeit items. The current supply chain contains a large number of counterfeit goods. The Authentication Solution Providers' Association reports that each year it costs the Indian economy INR 1 trillion. For the consumer to determine whether or not the product they are purchasing is authentic, a system that allows them to know its status. Block technology is used to identify genuine products and identify counterfeit goods. DLT is a decentralized database that is supervised by numerous users on various nodes. A hash is an irreversible cryptographic signature used to record transactions on a blockchain, a type of DLT. Blockchain is a technology with features like distributed computation, decentralization, and digital ledger which is connected to numerous database/node computers through chains and it stores transactional data in the form of blocks. Because data stored in a blockchain is immutable, any block in the chain cannot be altered or compromised, making blockchain technology secure. Customers or users don't need to rely on other users to confirm the safety and authenticity of products due to Blockchain technology. This paper describes a system for detecting counterfeit goods that uses blockchain technology,