Fake Product Identification using Blockchain

Abstract

The increase in fake goods is severely affecting the industrial sector and consumers. According to the survey, incidences involving fake products have increased in recent years, which have had a negative impact on sales, profits, and brand recognition. Far from reducing the ability of a company to make money, this counterfeiting also affects the consumer's ability to trust their goods in open market. Without proper tracking and security measures, consumers gradually stop trusting brands to keep their consumers safe from theft. This is happening because the manufacturing and distribution processes are hidden to consumers and this information is easily manipulated or falsified by others. So, users must have a method to determine if a product is genuine or not. This study proposes a blockchain based anti-counterfeiting system for product traceability throughout the supply chain. By using public or permissionless blockchain all the information throughout the supply chain will be recorded in the blockchain network in the form of blocks that are immutable, transparent, secure, tamper-proof, and trusted. This proposed method uses QR code for making the system further secure.