Authors : Sowmyashree S; Ananya L; Ananya R Acharya; Bharadwaj S Prajwal

Volume/Issue : Volume 9 - 2024, Issue 11 - November

Google Scholar : https://tinyurl.com/2e4wu86f

Scribd : https://tinyurl.com/ytjft5dh

DOI : https://doi.org/10.5281/zenodo.14325344

Abstract : The proliferation of counterfeit goods in global markets creates significant hurdles for industries, consumers, and regulatory authorities. It presents a blockchain-based solution aimed at preventing counterfeiting by facilitating product identification and verification. By harnessing the decentralized and unchangeable nature of blockchain, products are given unique identifiers that are linked to blockchain records. This allows for real-time validation of product authenticity across the entire supply chain, ensuring transparency, minimizing dependence on intermediaries, and mitigating the spread of counterfeit products. This project explores the architecture of the system, including tools such as Ethereum and smart contracts, and discusses the potential global impact of a scalable blockchain system in combating counterfeit goods [6][9]. The increasing trade in counterfeit goods poses major challenges, especially for small and medium-sized enterprises (SMEs), which often lack the resources to effectively address the problem. To tackle this issue, the project proposes a blockchain-based application to ensure the authenticity of products. By taking advantage of blockchain’s decentralized, transparent, and tamper- resistant properties, this system records product transactions on the blockchain, enabling consumers to confirm the authenticity of goods without depending on retailers. The system utilizes Ethereum and smart contracts to provide a secure, cost-effective solution for anti-counterfeiting. Manufacturers can monitor product ownership and sales, while consumers can verify the legitimacy of their purchases. This system also eliminates the necessity for directly operated stores, offering SMEs a cost-efficient method to safeguard their brands and build consumer confidence.

Keywords : Blockchain, Smart Contracts, Decentralized, Ethereum.

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