SAFEGUARDING AGAINST COUNTERFEITS WITH BLOCKCHAIN BASED QR CODE

Abstract

Blockchain technologies have gained interest over the last years. While the most explored use case is financial transactions, it has the capability to agitate other markets. Blockchain removes the need for trusted intermediaries, can facilitate faster transactions and add more transparency. This paper explores the possibility to deflate counterfeit using blockchain technology. This paper provides an overview of different solutions in the anti-counterfeit area, different blockchain technologies and what characteristics make blockchain especially interesting for the use case. We have developed three different concepts and the expansion of an existing system concept is pursued further. It is shown that reducing counterfeits cannot be achieved by using technological means only. Increasing awareness, fighting counterfeiters on a legal level, a good alert system, and having tamper-proof packaging are all important aspects. These factors combined with blockchain technology can lead to an efficient and comprehensive approach to reduce counterfeiting.