Blockchain solution set up to fight counterfeit products: Cognac manufacturer Hennessy joined AuraBlockchain, a non-profit private blockchain for luxury brands that can be used to track the entire supply chain of a product. From raw materials to manufacturing to the consumer, digital timestamps are used to trace and record every step of the production process. Every product has a unique ID, with decentralized and unchangeable blockchain records. The consumer can check these records online to ensure authenticity of the purchased product.

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Picture Credit Susanne Kuehne

Posted on 28 March 2022