AUNTHENTICATION OF PRODUCT &COUNTERFEITS ELIMINATION USING BLOCK CHAIN

Abstract

Blockchain technologies have gained interest over the last years. While the most explored use case is financial
transactions, it has the capability to agitate other markets. Blockchain remove the need for trusted intermediaries,
canfacilitate faster transactions and add more transparency. This paper explores the possibility to deflate counterfeit using
blockchaintechnology.Thispaperprovidesanoverviewofdifferentsolutionsintheanti-counterfeitarea,different
blockchaintechnologiesandwhatcharacteristicsmakeblockchainespeciallyinterestingfortheusecase.Wehave developed three
different concepts and the expansion of an existing system concept, is pursued further. It is shown, that
reducingcounterfeitscannot beachievedbyusingtechnological meansonly.Increasingawareness,fightingcounterfeiters
onalegallevel,agoodalertsystem,andhavingtamper-proofpackagingareallimportantaspects.Thesefactors combined with
blockchain technology can lead to an efficient and comprehensive approach to reduce counterfeiting Keywords –
Authentication, Blockchain, Encryption