Blockchain has another mission: combating piracy!

Baozou Comment : Blockchain technology has a wide range of uses and can also be used to detect counterfeit and shoddy products. Since there is very little property protection for digital products such as music, videos and photos, even if infringement is detected, the prosecution process is very cumbersome. The distributed ledger of blockchain allows us to easily put smart tokens on physical products, and the authenticity of the product can be proved through blockchain tracking. At present, blockchain technology is not so mature and it will take some time to develop and research.

Translation: Nicole

Experts say that other brick-and-mortar companies could be able to eliminate some counterfeit brands by using blockchain technology.

It is difficult for Internet users to control the emergence of counterfeit brands. Due to the anonymity of the Internet, product protection, especially for artists, is an impossible task. Even if these counterfeit brands have been detected, it is difficult to deal with such things.

We can put the smart token into the Gucci wallet to 'prove' it is real

There are many factors to consider when prosecuting counterfeit brands, such as judicial authority, location, and sufficient evidence. Even though blockchain technology is still under development, some people believe that blockchain technology can combat and eliminate these negative phenomena of counterfeiting.

Christopher Franko

Christopher Franko, blockchain expert at Ribbit.me, told CoinTelegraph:

“I think these are two unrelated things. I don’t think counterfeit products are paying for internet companies. I think they are just doing what makes them the most money. It’s about return on investment. However, the distributed ledger of blockchain allows us to easily put smart tokens on physical products, and we can prove that this Gucci wallet is real through blockchain tracking. Whether that is what consumers want is another matter.”

We can start with digital products

Nikola Cvijovic, legal representative of the Serbian Bitcoin Association, believes that blockchain technology is only part of the system for detecting counterfeit products.

Cvijovic explained to CoinTelegraph:

“Of course, blockchain can help us in our daily lives. For manufacturers, there is a lot to do to prevent counterfeiting. If they give each product they produce a unique number, you can put that number in the blockchain.”

He commented that this approach should first be used to protect the rights of authors of digital products such as music, videos, photos, etc.

Blockchain can be part of the system

Stefano Paulello, development leader at Blockchain Technologies Ltd., believes the situation is both interesting and difficult. There are some innovations trying to use blockchain technology to combat counterfeiting. It’s not that simple and the technology needs to improve.

Paulello concluded:

“Blockchain technology will be part of the technology, maybe a core part but not the only one. It is very exciting to see this new technology revolution.”