Can we beat counterfeit issue with blockchain?
Reviewing and compile blockchain industry topic, updating market references and research environment.
Today, we are picking up counterfeit issue and solution with blockchain technology.
Famous sneaker brand, New Balance has announced to cooperate with Cardano, against the counterfeit issue to solve with blockchain technology integration.
They will be collaborating with New Balance on an authentication pilot project. This is a consumer-level verification solution which will allow purchasers to confirm the authenticity of footwear on the distributed ledger.
Counterfeit issue is not only existed at physical products, but also be found serious problem for money transactions. At the trend, the Bank typically receives around 30,000 counterfeits per year. This is small relative to the total amount of banknotes in circulation (around 1.6 billion pieces). Police operation attributes to discover counterfeit drawback and technically, it needs to cover more high resolutional approach by digital replacement.
Drug is one of remarkable space from counterfeit preparation, SAP and Singapore based Zuellig Pharma has announced to make their own app, eZTracker app, mobile interface supply chain tracking.
Allowing consumers verify the authenticity of a drug by just scanning a barcode.
If a product is found to be fake, automatic alerts will be sent by the app to the drug manufacturer and Zuellig Pharma. The notifications will provide details about where the counterfeit pharmaceuticals entered the supply chain.
Block Odyssey, the company is using digital signature embedded QR code technology, enables user to track the logistics process from the beginning to the end. It is also creating an integrated logistics platform to prevent forgery and alteration and manage reliable logistics information.
Transparent and clearance of entire logistic deliver, it helps user to rely on the brand and output. Their technology is the fast transaction processing and external security based on private blockchain, besides flexible node change by using PoET.
Counterfeit is security issue and preventive solution to be avoiding happening again.
Thank you for reading daily Collabogate overview and please contact me if you want to be writer of research blogging.
Looking for Collaborator to start working with global network! Please register below the link for business collaboration together.
