Counterfeit Product Detection Using Blockchain Technology

Year : 2024 | Volume :11 | Issue : 02 | Page : –
By

Asadullahkhan Pathan,

Shubham Salunke,

Sayali Nagvekar,

Shubham Bandal,

Charusheela Pandit,

  1. Student Department of Computer Engineering, Vishwaniketan Institute of Management Entrepreneurship and Engineering Technology Mumbai University Maharashtra India
  2. Student Department of Computer Engineering, Vishwaniketan Institute of Management Entrepreneurship and Engineering Technology Mumbai University Maharashtra India
  3. Student Department of Computer Engineering, Vishwaniketan Institute of Management Entrepreneurship and Engineering Technology Mumbai University Maharashtra India
  4. Student Department of Computer Engineering, Vishwaniketan Institute of Management Entrepreneurship and Engineering Technology Mumbai University Maharashtra India
  5. HOD Department of Computer Engineering, Vishwaniketan Institute of Management Entrepreneurship and Engineering Technology Mumbai University Maharashtra India

Abstract

In today’s bustling marketplace, the demand for products is skyrocketing, prompting an increase in production from numerous sources. However, this surge has brought along a concerning uptick in counterfeiting activities, presenting significant challenges for companies operating in the consumer market. Not only do these counterfeit goods result in substantial financial losses, but they also inflict damage on brand reputation. Moreover, the proliferation of counterfeit products can have adverse effects on the economy, impacting sales and profitability. For genuine manufacturers, competing with counterfeiters is a daunting task. These counterfeiters often compromise on quality control and utilize cheaper materials to replicate original products, including packaging and branding. This puts authentic manufacturers at a severe disadvantage. To address the rampant production of counterfeit products, effective measures must be implemented. Blockchain technology offers a promising solution for authenticating original manufactured products by securely storing critical details and ensuring data integrity through its decentralized architecture. Information such as manufacturing specifics, materials used, and distribution history can be securely recorded in immutable blocks linked together in a chain.
To improve consumer convenience, QR technology can be effortlessly incorporated into product packaging. This allows users to effortlessly scan a product’s QR code with any camera-equipped device, granting them access to its unique identification stored securely on the blockchain. By harnessing blockchain technology for product authentication, businesses can effectively combat counterfeiting while enhancing supply chain transparency and fostering consumer trust. This approach not only safeguards brand reputation but also ensures consumer safety.
The successful implementation of blockchain-based solutions necessitates collaborative efforts among manufacturers, technology providers, and regulatory authorities. However, the potential benefits, including reduced counterfeiting, improved brand integrity, and enhanced consumer safety, make it a worthwhile endeavor for companies navigating today’s fiercely competitive market landscape.

Keywords: Counterfeit product, QR code, Blockchain Technology, Identification, Detection System

[This article belongs to Journal of Advanced Database Management & Systems(joadms)]

How to cite this article: Asadullahkhan Pathan, Shubham Salunke, Sayali Nagvekar, Shubham Bandal, Charusheela Pandit. Counterfeit Product Detection Using Blockchain Technology. Journal of Advanced Database Management & Systems. 2024; 11(02):-.
How to cite this URL: Asadullahkhan Pathan, Shubham Salunke, Sayali Nagvekar, Shubham Bandal, Charusheela Pandit. Counterfeit Product Detection Using Blockchain Technology. Journal of Advanced Database Management & Systems. 2024; 11(02):-. Available from: https://journals.stmjournals.com/joadms/article=2024/view=155345

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Regular Issue Subscription Review Article
Volume 11
Issue 02
Received May 8, 2024
Accepted June 6, 2024
Published July 5, 2024
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