Irrespective of where you shop, the counterfeit fear is real. At some point you must have bought a replica of a product of your dream. However, the entry of blockchain is about to end the menace. The technology provides P2P transaction verification in a process that links product data with blocks over a transparent public ledger.

For the tech savvy, it is true that blockchain uses are unlimited. Once intermediaries are done away with, fighting fakes in the market becomes a lot easier. The technology has no weak pints where con artists can introduce their products between the manufacturing plant and the point of sale.

Product Tagging

Fashion replicas have hit the market hard and the introduction of a crypto backed tagging system seems to work miracles.  This ensures delivery or original product to the end consumer. Once users realize they have been duped with fakes, seller business goes under due to lack of trust.

Invisible tagging on clothing items for example prevents counterfeiters from manipulating the supply chain system and the user gets the real deal. This is the directing global brands are taking to protect their products. Using Radio Frequency Identification (RFID) makes it easy to track goods from production to the consumption exit in the chain.

Markets Benefiting from Anti-Counterfeit Technology

Every brand appears set to protect its products through inventory tracking in a transparent environment. Use of RFID tagging, it has become easy to track product movement across the globe. This has simplified the once complex supply chain management whilst speeding up processes.

The sensitive food industry has benefited a lot which has hit hard on the Chinese counterfeit industry. Contaminated and plastic foods now have no place in the market. Simple QR codes riding on blockchain have done the trick and the world is headed to become fake food free; it is easy to track food from the source.

Through Vinfolio, the wine industry has also benefited from the technology. A wine verification system has been developed and valuable wine products can now be purchased using crypto. By tagging original products, the fake wine industry is set to come to an end.

With the increasing interest in eliminating counterfeits using blockchain, the industry will get a boost in new adoptions and digital coin usability is set to rise. This will see more people exiting fiat and embracing crypto for their daily solutions.