PRODUCT TRACKING AND IDENTIFICATION USING BLOCKCHAIN TECHNOLOGY.

Abstract

In recent years, the rise of counterfeit products has become a major concern for manufacturing industries. This issue significantly impacts companies, influencing their brand image, sales, and overall financial success. The application of blockchain technology has emerged as a solution to verify authentic products and detect counterfeits. This technology functions through a distributed, decentralized, and digital ledger system that records transactional details in interconnected blocks across various databases. The security features inherent in blockchain guarantee the unchangeability and protection against hacking of each block. The integration of blockchain technology eliminates the need for consumers or users to rely on external entities to confirm the safety of a product. When purchasing any item today, a common concern is its authenticity. The absence of authenticity checks significantly impacts economic progress. To combat counterfeit goods effectively, transparency regarding products is crucial. The rise of counterfeit and unsafe products globally is alarming, and blockchain technology is a step towards addressing this issue. The use of technology not only reduces the production of fake items but also emphasizes the importance of awareness. Each item should have a unique digital code for identification during production and packaging. A software process involves scanning the product code using an application to verify its authenticity, contributing to the elimination of counterfeit goods. This project aims to leverage the clarity and safety aspects of blockchain technology to create a robust system for tracking and identifying products. By explaining the purpose of this project, the goal is to help establish a safer and more trustworthy environment for both consumers and businesses.