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The proliferation of counterfeit goods poses a grave threat to both industrial sectors and consumers, with increasing incidents negatively impacting sales, profits, and brand credibility.Counterfeiting not only hampers a company's revenue streams but also erodes consumer trust in the open market.The lack of transparency in manufacturing and distribution processes exposes consumers to manipulated or falsified information, further undermining trust in product authenticity.To address this pressing issue, we present a blockchain-based anti-counterfeiting system designed for comprehensive product traceability across the supply chain.Leveraging public or permissionless blockchain technology, our proposed system records supply chain data in immutable, transparent, secure, tamper-proof, and trusted blocks.A QR code integration enhances the system's security and usability, allowing consumers to easily verify product authenticity.This innovative solution aims to restore consumer confidence, mitigate the adverse effects of counterfeiting on businesses, and fortify supply chain security.The paper delves into the technical intricacies of the proposed method, highlighting the transformative potential of blockchain technology in safeguarding product traceability and ensuring authenticity throughout the supply chain.
Nehete et al. (Sat,) studied this question.