Block Verify releases blockchain anti-counterfeit solution

Blockchain | April 7, 2015 By:

On Monday, Mar. 9, The Block Verify team announced it has completed a pilot program using advanced blockchain technology to disrupt anti-counterfeit technologies worldwide. Counterfeit goods currently account for $1.77 trillion around the world. Such goods are found globally at markets, and they find their way onto the shelves of retail stores.

“Bitcoin was originally used to buy illegal drugs. Now we are using the same technology-the blockchain—to help stop the distribution of dangerous counterfeit drugs worldwide,” said Block Verify founder Pavlo Tanasyuk.

The blockchain offers the technology needed to combat counterfeit goods on a grand scale. Block Verify uses a private blockchain to monitor the whole distribution network, including trading partners and product sourcing.

Block Verify headquarters are located in London, United Kingdom.