2 years ago
Blockchain-based anti-counterfeiting tools amusement promise, the European Union Intellectual Property Office (EUIPO) said successful a Monday post, aft a proceedings involving brands, borderline power and logistics operators.
EUIPO has finalized a impervious of conception "having engaged successful real-life operational tests with 4 brands, 2 logistics operators and a customs authority,” pursuing a months-long trial, which showed “promising results,” the bureau said of an inaugural present known arsenic European Logistics Services Authentication (ELSA), based connected a abstracted task known arsenic the European Blockchain Services Infrastructure (EBSI).
EUIPO, an EU bureau based successful Alicante, Spain, is hoping to make an open-source level this twelvemonth to guarantee each nexus successful the commercialized proviso concatenation tin way products and cheque they’re authentic.
Using distributed ledger exertion to combat fakes isn’t a caller idea, but hasn't been palmy successful practice. Proponents of the EUIPO project accidental by utilizing unfastened root exertion it tin debar the destiny of unduly centralized systems similar IBM’s TradeLens, which past November announced it was winding down.
EUIPO says counterfeits magnitude to 2.5% of planetary trade, worthy astir 412 cardinal euros ($451 billion).
Edited by Sandali Handagama.
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