European Tech Think Tank dGen Releases Report on the Role of Blockchain in Counterfeiting

European Tech Think Tank dGen Releases Report on the Role of Blockchain in Counterfeiting

dGen released their latest report, “Made in Italy: Safeguarding Artisans from Counterfeiters”. This report explores the current impact of counterfeiting on the artisans behind Made in Italy’s luxury brands, has insights from industry leaders and looks at potential blockchain solutions to these issues.

Italian brands have long been synonymous with quality and luxury, and this is in large part due to the strong artisan backbone of many of these companies. However, digitisation and globalisation have been a hard hit to the fine craft sector, and increasingly allowed counterfeiting to flourish.

Counterfeiting threatens the entire label, though.

  • If Made in Italy were registered as a brand, it would be the third largest globally, behind only Coca-Cola and Visa.
  • In 2016, counterfeiting in Italy alone was estimated to have resulted in the loss of 88,000 jobs, or just over 2% of full-time employees.

In order to protect the label, blockchain technology has been suggested, and this report analyses several potential uses. The main areas that are discussed, is blockchain for:

  • goods and raw material authentication
  • secure and up-to-date intellectual property rights ledger
  • enable closer, more secure and private brand/client relationships
  • proof of sustainable and ethical practices
  • post-sale services and authentication certificates.

While the industry definitely has incentives to improve their systems and reduce counterfeiting and blockchain’s security has promising potential to achieve this, these initiatives must be taken with the artisans who built the label in mind to protect the traditions and legacy of Italy in the future.

About dGen

dGen is an independent non-profit think tank focusing on how emerging technology can contribute to a decentralised future in Europe and what this might mean for people, society, private entities, and the public sector over the coming decades. dGen works with researchers and strategic partners to produce high-quality research reports about how emerging technologies can impact and shape existing industries. Find all of our reports at www.dgen.org.

Publication date: 
05/21/2020 - 00:45
Author: 
Disclaimer

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.