Blockchain as a Key to Successful IP Protection
With counterfeiters becoming more and more elusive each day and constantly developing
new, high-tech methods to produce, market, and distribute inauthentic goods, the pressure
is on the private sector to counter the developments by any means possible. IP protection is
becoming a hygiene factor for online marketplaces and brand owners alike, and those who
do not invest enough time and effort into the matter are likely to see their business affected
sooner rather than later.
A key to keeping up with counterfeiters’ latest modus operandi is blockchain technology,
which is currently being used within various different industries to help detect fakes and to
establish ways of ensuring the origin of products through the manufacturing process.
More and more companies are turning to researchers and scientists to purchase, or develop,
advanced technological solutions to integrate their IP protection strategies. For instance,
recent work at Portland State University is aimed at product checking in the pharma
industry, while Israeli based VinX is developing blockchain platforms for the wine futures
industry and computer hardware company IBM joins forces with tech company Seagate to
combat the counterfeiting of hard drives.