• The NanoJClean publication has discussed the importance of blockchain certificate storage and anti-counterfeiting traceability solutions in promoting standardization around IP authorization.
• Mattel, an intellectual property of Barbie has co-branded with more than 100 brands with thousands of peripheral products produced.
• Blockchain technology such as VeChain is said to be a perfect fit for the anti-counterfeiting and copyright protection
VeChain Revolutionizing IP Security
The recent NanoJClean publication discusses how blockchain technology can revolutionize IP security with its certificate storage and anti-counterfeiting traceability solutions. This will promote standardization around Intellectual Property (IP) authorization.
Barbie Boom Leads To Counterfeit Products
The live-action movie “Barbie” brought back the old Barbie IP, transforming the toy market. Brand Shield reports that searches for Barbie-related keywords have increased by 500 percent, while 150 to 200 fake Barbie websites are registered daily. Multinational Digital Business consultant company LatentView Analytics highlights that the growing e-commerce platforms have led to a surge of counterfeit products, which seriously damage brand images.
Mattel Co-Branding With Over 100 Brands
Mattel, an intellectual property of Barbie has co-branded with more than 100 brands with thousands of peripheral products produced. Over 10 billion views on these products have been generated on the internet so far.
VeChain & Blockchain Technology Use Cases
VeChain (VET) has unlocked several use cases in areas including supply chain management, medicine, agriculture, education etc., making it a perfect fit for anti-counterfeiting and copyright protection due to its decentralization and non tampering characteristics.
Conclusion: Unlocking Potential Of Blockchain Technology
The efforts to harness the potential of blockchain technology cut across several industries and countries due to its ability to reduce counterfeit products from entering the toy ecosystem while also providing solutions for issues related to IP authorisation such as identity authentication and quality control.