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Abstract: Counterfeiting of products is a significant challenge across various industries, leading to economic losses and risks to consumer safety. This paper proposes a novel approach to combat counterfeit products using blockchain technology. By leveraging the immutable and transparent nature of blockchain, a framework is devised to authenticate products throughout their lifecycle. The system utilizes unique identifiers assigned to each product during manufacturing, which are then recorded on a blockchain ledger. Through a decentralized network of nodes, stakeholders including manufacturers, distributors, retailers, and consumers can verify the authenticity of products in real-time. Smart contracts are employed to automate verification processes, ensuring integrity and efficiency. Additionally, the framework incorporates mechanisms for data privacy protection, ensuring sensitive information remains secure. Through empirical analysis and simulations, the effectiveness and scalability of the proposed solution are evaluated. Results demonstrate a significant reduction in counterfeit incidents and enhanced trust among stakeholders. This research contributes to the advancement of anti-counterfeiting measures, offering a robust solution to safeguard product authenticity in the digital age.
Gaurav Nagarkar (Sat,) studied this question.