Blockchain Helps To Detect And Throw Away Counterfeits From Supply Chain

1. Blockchain Helps To Detect And Throw Away Counterfeits From Supply Chain Do you remember when a man died due to the explosion of a fake Samsung mobile phone? In another case, around 100 people in Pakistan died by taking fake heart medicine. Both of these incidents took place in different industries, but will you believe meifIsaythatthemainreasonforbothisthesame?Counterfeitproductsare a big concern when it comes to a brand. It is because they can possibly destroy the reputationofthecompany. What else can fake products do to a brand? How can we eliminate the intrusion of counterfeitproductsintothesupplychain?–Letusdigin! Counterfeits Are The Ultimate Enemies For A Brand Fake goodies have become a growing concern that affects both customers and legitimate businesses. Having a transparent supply chain is essential to prevent the circulation of fakes. Thus, businesses should take proper preventive measures to guardtheirbrandandreputationagainstbeingtarnishedbyfakeproducts. A fake product can affect a genuine business, pushing it to lose money as well as reputation. Moreover, customers also need to be aware of duplicates and put some efforttoavoidpurchasingthem.

2. How Can Blockchain Remove Fakes from Supply Chain? Blockchain can be the perfect solution to filter out fake products by providing tamper-proof and transparent supply chain records. Thus, it makes it easy for manufacturers and customers to trace and cross-verify the authenticity of a specific product. It is possible to achieve this when incorporating the best blockchain smart contractsdevelopmentservices. Also, blockchain can increase traceability, helping to find and stop the sales of counterfeits into themarket.Theimmutableledgerkeepstrackofaproduct’sjourney end-to-end, from manufacturing to distribution.Withthat,enduserscanknowallthe manufacturingdetailswhilepurchasing. Application Of Blockchain To Remove Fake Drugs Let us explain the working of blockchain in a real-time use case. Consider a pharmaceutical company that distributesmorethanathousandvarietiesofmedicinal drugs into the market. This is how the supply chain will work after incorporating blockchaintechnology. 1– Firstly, the manufacturer will create the medicine using the required raw materials. Then, the manufacturer will pack the medications and send them to the distributor. 2– Then, the distributor will receive the receipt of the medicine and keep arecordof itsmovementontheblockchain.

3. 3– Later, the wholesaler will receive the package from the distributor and check the legitimacyandtheproductjourneyontheblockchain. 4– Now, the pharmacy owner will re-check the medications’ legitimacy and register theirmovementontheblockchain. 5– Finally, the userwillpurchasethemedicineandcanverifytheproduct’sdetailslike ingredients, manufacturer, manufacturing date, seller name, expiration date, and othersbyscanningtheblockchain-basedQRcodeonthetopofthepackaging. If you notice carefully, each and every step given above focuses on confirming the legitimacy of the medication. Thus, it is easy to spot the fakes and ensure the quality of the drugs. Besides, it is also possible to identify and stop the manufacturing and distribution of counterfeit medicines. However, you will need the aid of a smart contractdevelopmentcompanytostreamlinetheprocess. Future Of Blockchain In Supply Chain Ultimately, blockchain technology has definitely offered us a promising solution to ensure the authenticity of a product. On the other hand, it also has many potential future applications when incorporated with other technologies like AI and IoT. By combing all these technologies, we can enhance the outcomesinasophisticatedway, reducingtheriskoffake,forgery,andproducttamperingtoo.