Can blockchain continue to protect brand mission and fight against counterfeiting?

Experts say blockchain technology, combined with some partners, can combat counterfeit brands and misrepresentations of brands.

Brand counterfeiting and false descriptions are a thorny issue for Internet users. Product protection is a difficult task, especially for artists, due to the anonymous nature of the Internet. Even when counterfeit brands and false descriptions are detected, it is difficult to manage the situation.

We can give the Gucci wallet a smart token to "prove" its authenticity

In the fight against brand counterfeiting and misrepresentation, jurisdiction, location, adequate proof and more factors make prosecution extremely difficult. Although blockchain technology is still evolving, it can combat and eliminate counterfeiting and other related evils.

Christopher Franko, a blockchain scientist at Ribbit.me, told Cointelegraph:

“I think these are two different issues really. I don’t think counterfeiting drives internet companies to just pay the market, they’re just doing what makes them the most money, it’s a question of ROI. However, blockchain is designed as a distributed ledger, so we can easily attach a smart token to a tangible product in the real world and track it through the chain to ‘prove’ it’s a genuine Gucci wallet. Which one the customer wants is another question.”

We can start with digital products

Nikola Cvijovic, legal representative of the Serbian Bitcoin Association, believes that blockchain can be part of the system to check brand counterfeiting and false descriptions.

Cvijovic explained to CoinTelegraph:

“Of course, blockchain technology can help in all aspects of our lives. However, it can do more for manufacturers in preventing counterfeiting. Once they have a unique number for each part they manufacture, you can put it on the blockchain in many ways.”

He said the approach should first be used to protect the rights of creators of digital products such as music, videos and photos, and extend from there to other areas.

Blockchain is part of the system

Stefano Paulello, business development leader at Blockchain Technologies Ltd., sees some interesting but difficult solutions. He believes that there are some innovative attempts to use blockchain to combat counterfeit brands or imitations, but it is not easy and the technology needs to be developed.

Paulello concluded:

“Blockchain will be part of the technology stack, maybe not the only part but a core part, and I think it’s really exciting to see the development of this new technology now.”