Product Authenticity: A Blockchain-Based Solution
Prof. Nandini K, Atharva Mahajan, Basant Narayan, M.Harshitha Reddy · 2024
The field of supply chain management has long grappled with problems regarding redundancy in services, lack of coordination among various industries, and a lack of standardization, mainly due to the inherent lack of transparency. Nowadays, the proliferation of synthetic products is a rampant issue, making it incredibly challenging to distinguish a genuine item from a counterfeit one through visual inspection alone. Counterfeit goods present substantial challenges for legitimate businesses, yet the full extent of their impact on brands often remains underestimated by the public. Over time, many methods have been devised to combat the problem of product counterfeiting, including popular techniques like tags, A. I., and bar code-based systems. However, each of these approaches has its limitations, such as the vulnerability of QR codes to copying and placement on fake products, or the resource-intensive nature of artificial intelligence, which relies on complex computational power. The central idea is to enhance the detection of counterfeit products by effectively tracing its entire logistics network. This can be achieved through the application of blockchain technology, which ensures the tracking of authentic products throughout the entire network. A Blockchain systems decentralize data access, allowing multiple parties to access it simultaneously. A key advantage of this technology is that the registered data is exceptionally resistant to alteration without the unanimous consent involved, making it highly secure and protected against vulnerabilities. In summary, this paper presents a system designed using blockchain technology to improve the detection of synthetic products by providing a comprehensive and secure means of tracking their journey through the logistics network.