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This study explores the potential of blockchain-based product authentication systems in mitigating the proliferation of counterfeit luxury goods. By leveraging secure hardware and blockchain technology, these systems integrate unique identifier codes into product tags stored as blocks within a decentralized ledger. The key research question addressed in this paper is: To what extent are blockchain-enabled systems effective in reducing the prevalence of counterfeit luxury items in the marketplace? Despite the secure nature of blockchain technology and its ability to maintain the integrity of stored codes, there remains a critical challenge. Counterfeiters can still manipulate physical goods and imitate product tags, highlighting a disconnect between physical products and their digital counterparts. A comprehensive literature analysis will evaluate the proposed system's efficiency and the existing gap between physical and digital product authentication. The primary objective of this research is to delineate the system's architecture and elucidate its potential utility from an economic standpoint. The analysis aims to better understand the current challenges and potential solutions within blockchain-empowered luxury goods authentication.
Jevtić et al. (Tue,) studied this question.
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