Review Paper on Leveraging Blockchain Technology for counterfeit Product

This project introduces a blockchain-based approach to address the rising issue of counterfeit products. The system uses unique identifiers, such as QR codes or RFID tags and image processing for each product, allowing for efficient tracking and verification. By associating these identifiers with a decentralized blockchain ledger, various stakeholders such as consumers, product providers, and regulatory authorities can easily verify the authenticity of products in real-time. Any attempts to insert counterfeit goods into the supply chain are swiftly detected and recorded, ensuring quick response actions. Additionally, the system promotes better collaboration and data exchange between manufacturers, distributors, retailers, and regulatory agencies, contributing to a more transparent and efficient supply chain. Blockchain’s secure and immutable ledger provides a detailed and auditable record of each product’s journey, from production to final use, while smart contracts help enforce compliance with regulatory standards. By enhancing traceability, reducing administrative overhead, and safeguarding product integrity, this solution strengthens market security and plays a crucial role in combating counterfeit products.