Fight Against Counterfeiting: Institutions Bet on Blockchain

Work on the use of the blockchain technology to accelerate the fight against counterfeiting is emerging.
Blockchain-based technologies make it possible to check the authenticity of a product and thus exclude counterfeit goods. The goal is simple: to ensure the traceability of an authentic product from the moment it leaves the factory to the moment it is delivered to the consumer or the patient. We know that consumer confidence is hard earned and easily lost. Blockchain technology therefore often appears as a nearly infallible means of gaining the trust of the end user.
State institutions seem to recognize that this technology has convincing qualities to effectively counteract the scourge of counterfeiting.
Within the European Union, the European Commission and the Office of the European Union for Intellectual Property (EUIPO) jointly organize a blockhaton. Ten teams of blockchain experts will confront themselves in generating efficient solutions against counterfeiting. The competition will take place from 22 to 25 June 2018 in Brussels. Applications are open until April 30, 2018. Hurry! (# EUBlockathon2018).
India is moving in the same direction. The influential National Institution for Transforming India NITI Aayog, a think tank on critical issues in the Indian society, advocates the use of blockchain technology to contain the chronic scourge of counterfeit drugs on the peninsula. According to the NITI Aayog, the process could be at work as early as 2019.
At this point, the search for encrypted blockchain-based processes is generating enthusiasm and hope. However, the success of this new technology will depend, firstly, on a robust cooperation between governments, industry and civil society, on the other hand, on accurate and abundant information of the end user.
The use of tracers based on blockchain technology will remarkably complement online counterfeit detection tools.