The ubiquity of counterfeit goods in today’s global market is a serious problem that can cause firms to suffer large financial losses as well as consumer health risks. This abstract presents a potential fake goods detection system that leverages blockchain technology’s inherent security properties to address the shortcomings of existing approaches. Blockchain’s openness gives customers access to detailed information about the goods they’ve bought, which increases their trust in the legitimacy of their purchases. A safe system for storing and retrieving data is ensured by the distributed, decentralised, and tamper-resistant nature of blockchain technology, which offers a practical way to detect and reduce the presence of counterfeit goods. The importance of using blockchain technology to improve the security and transparency of global supply chains is highlighted in this abstract, which will eventually protect consumers and businesses from the negative impacts of counterfeit goods.

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Fake Product Detection Using Blockchain with Encryption and AI

  • Shyam Pandit,
  • Abhay Jakhere,
  • Siddharth Tated,
  • Omkar Bhakare,
  • Chandan Prasad

摘要

The ubiquity of counterfeit goods in today’s global market is a serious problem that can cause firms to suffer large financial losses as well as consumer health risks. This abstract presents a potential fake goods detection system that leverages blockchain technology’s inherent security properties to address the shortcomings of existing approaches. Blockchain’s openness gives customers access to detailed information about the goods they’ve bought, which increases their trust in the legitimacy of their purchases. A safe system for storing and retrieving data is ensured by the distributed, decentralised, and tamper-resistant nature of blockchain technology, which offers a practical way to detect and reduce the presence of counterfeit goods. The importance of using blockchain technology to improve the security and transparency of global supply chains is highlighted in this abstract, which will eventually protect consumers and businesses from the negative impacts of counterfeit goods.