Blockchain: New Use Cases for Governments and Business
Tom Spencer
JUNE 24, 2022
Using blockchain-based systems to authenticate luxury goods will make it easier to identify counterfeit products, and thus increase consumer confidence in brands that a typically targeted by counterfeiters, e.g. Rolex or Louis Vuitton. In 2017, Protokol estimated that $1.2 trillion worth of luxury goods were counterfeit.
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