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Tag: Blockchain technology

  • Blockchain technology is a game-changer for protecting brands against counterfeit goods: Padmakumar Nair

    Blockchain technology is a game-changer for protecting brands against counterfeit goods: Padmakumar Nair

    Mumbai: Ennoventure Inc. has unveiled an advanced brand protection technology which has been designed to bolster legal defenses against brand abuse. We would like to propose a fascinating and topical narrative that explores the intricate and ever-changing landscape of trademark protection: “The Tech-Counterfeiter Tango: How Innovation Fuels the Game of Cat and Mouse.”

    In today’s era of rapid technical progress, the conflict between brands and counterfeiters has taken on a new dimension, resembling an intricate dance where each move is met with a strategic countermove. As per a report by ASPA and CRISIL, in India alone, 25-30 per cent of products sold are spurious with counterfeiting. This increases the need for anti-counterfeit solutions to battle the grappling issue, ensuring brand protection and product authencity. To address this, Ennoventure’s latest technological innovation named ‘Enncrypto’ will help brands respond to the relentless pursuit of cutting-edge technologies by counterfeiters, employing equally creative methods to preserve their reputation and ensure customer safety and satisfaction.

    Indiantelevision.com caught up with Ennoventure, Inc CEO & co-founder Padmakumar Nair where he shed light on numerous topics regarding the evolution of counterfeiting techniques

    Edited excerpts

    On the sophisticated methods currently employed by counterfeiters to bypass brand protections

    Counterfeiters are increasingly using advanced technology to evade brand restrictions. They are able to replicate products in almost all industries using these techniques.

    1   Advanced Printing Technology: Counterfeiters use high-resolution printers and specialized inks to reproduce packaging, labels, and even security features such as holograms and barcodes with remarkable precision.

    2   Chemical and Material Mimicry: Advanced chemical processes enable counterfeiters to mimic the physical properties and materials used in authentic products for instance in the pharmaceutical industry, making it difficult to distinguish between genuine and fake items.

    3   Supply Chain Infiltration: Counterfeit goods are introduced into legitimate supply chains through various means, including unauthorized production at subcontractors, smuggling, and diversion of genuine products.

    4   Digital Counterfeiting: Online platforms are exploited through the creation of counterfeit websites and listings on e-commerce marketplaces, using sophisticated digital imagery and deceptive marketing to deceive consumers.

    5   Global Smuggling Networks: Illicit networks utilize complex logistical routes and falsified documentation to transport counterfeit products across international borders, evading customs inspections and legal scrutiny.

    6   Technological Adaptation: 3D printing, digital scanning, and artificial intelligence replicate complex designs, especially in the luxury goods industry.

    On invisible signatures offering more over traditional anti-counterfeit measures

    Invisible signatures offer significant advantages over traditional anti-counterfeiting measures, making them a powerful tool in combating counterfeiters. Primarily, they enhance security by making it difficult for counterfeiters to detect and replicate, providing an additional layer of protection. Their non-intrusive nature ensures that the appearance of products or packaging remains unaltered, thereby preserving brand integrity.

    Moreover, invisible signatures are easily verifiable using mobile devices, streamlining the authentication process. This quick and efficient verification is particularly beneficial in high-volume environments. The ability to customize these signatures for each product batch further complicates counterfeiters’ efforts, as mass-producing fake items becomes substantially more challenging.

    Additionally, invisible signatures can be seamlessly integrated with existing processes and other security features, such as QR codes or blockchain technology, for enhanced protection. This combination of features creates a robust anti-counterfeiting system that is difficult to breach.

    Overall, the security, non-intrusiveness, ease of verification, and customizable nature of invisible signatures make them an invaluable asset in safeguarding brands against counterfeiting.

    On utilisation of blockchain technology to protect brands from counterfeit goods

    Blockchain technology is a game-changer for protecting brands against counterfeit goods, offering several robust solutions. Firstly, blockchain provides unparalleled supply chain transparency by creating a transparent and immutable record of a product’s journey from manufacturer to consumer, making it significantly easier to track and verify authenticity. The tamper-proof nature of blockchain ensures that once data is recorded, it cannot be altered, guaranteeing the accuracy of product information. This technology also empowers consumers, who can access blockchain records via QR codes or NFC tags on products to confirm authenticity before making a purchase. Besides, blockchain can be seamlessly integrated with other anti-counterfeit technologies, such as invisible signatures and AI-powered authentication, creating a comprehensive security solution. Utilizing blockchain technology can dramatically enhance the effectiveness of our anti-counterfeiting strategies.

    On consumers becoming more empowered in the fight against counterfeit goods

    Consumers are increasingly empowered in the fight against counterfeit goods through a variety of innovative means:

    1   Access to Information: Consumers have greater access to product information and supply chain details through digital platforms and mobile apps, enabling informed purchasing decisions.

    2   Verification Tools: QR code scanners and NFC technology in mobile apps allow consumers to authenticate products easily, helping them identify counterfeit items at the point of purchase.

    3   Consumer Education: Brands conduct awareness campaigns to educate consumers about counterfeit risks and how to distinguish genuine products from fakes, empowering them to make informed choices and report suspicious products.

    4   Social Media Impact: Social media provide a platform for consumers to share experiences and warnings about counterfeit goods, promoting community awareness and vigilance.

    5   Reporting Mechanisms: Improved reporting channels, including official websites and consumer hotlines, enable consumers to report suspected counterfeit products promptly, aiding in enforcement efforts against counterfeiters.

    6   Legal Support: Strengthened regulatory frameworks and laws support consumers in seeking redress and combating counterfeit trade, enhancing consumer protection and market integrity.

    On discussing the dynamic cat-and-mouse game between counterfeiters and brands

    The battle between counterfeiters and brands is a dynamic cat-and-mouse game, where both sides are in a constant state of adaptation. Whenever brands introduce new anti-counterfeit technologies like invisible signatures or blockchain verification, counterfeiters respond with agility and resourcefulness. They reverse engineer products to replicate security features, invest in advanced printing technologies to mimic packaging and labels with high accuracy, and exploit vulnerabilities in supply chains through social engineering or insider threats. Technological advancements such as 3D printing and digital scanning further empower counterfeiters to replicate complex designs and security elements. Global smuggling networks enable them to distribute counterfeit goods across borders, exploiting regulatory gaps and leveraging online platforms to reach consumers directly.

    To stay ahead, brands must remain vigilant and continuously adapt and innovate their anti-counterfeit strategies, collaborate closely with technology experts and law enforcement agencies, and maintain rigorous oversight of global supply chains to effectively protect consumers and uphold brand integrity.

    On the future of anti-counterfeit solutions evolving in the next five to ten years

    The future of anti-counterfeit solutions is set for significant evolution over the next five to ten years. We can expect huge advancements in AI, machine learning, and blockchain to greatly enhance the accuracy and reliability of our anti-counterfeiting efforts. Integrated solutions that combine various technologies—such as invisible signatures, blockchain, and the Internet of Things (IoT)—will offer more robust protection. Real-time tracking and monitoring of products throughout the supply chain will become more sophisticated, helping to detect and prevent counterfeiting more effectively. Stronger regulatory frameworks and international cooperation will also play a crucial role in creating a more robust legal environment against counterfeiters. Moreover, increased consumer education and engagement will empower individuals to recognize and report counterfeit products, promoting a collective effort to safeguard authenticity. Ultimately, these advancements will lead to a more secure marketplace that ensures the integrity of products and enhances consumer trust worldwide.

  • Blockchain in telecom: Paving the way for secure, trustworthy data

    Blockchain in telecom: Paving the way for secure, trustworthy data

    Mumbai: Blockchain technology, renowned for its secure and decentralized nature, is making significant inroads into various industries, including telecommunications. The telecom industry, which constantly handles vast amounts of sensitive data, is poised for a transformation with the advent of Dhiway’s CORD blockchain. This cutting-edge solution from the Bangalore-based company promises to enhance trust and security in digital ecosystems, revolutionizing how telecom operators manage and exchange data within their networks.

    Delving deeper, Indiantelevision.com caught up with Dhiway co-founder & vice-president engineering Amar Tumballi.

    Edited Excerpts:

    On the business challenges that are being addressed by adopting blockchain/DLT in the telecom sector

    The telecommunication sector, a complex ecosystem of stakeholders, participants, service providers, and consumers, is at a crucial juncture. Designing applications and services around trustworthy data is a critical challenge. These data streams must be harmonised and have semantic interoperability and continuous assurance, making the adoption of blockchain a significant step forward.

    The adoption of blockchain in the telecommunication sector heralds a new era of possibilities. It paves the way for innovative businesses, such as caller identification services, leveraging reusable digital identifiers for IoT applications and services. The availability of secure, trustworthy data mitigates cybersecurity risks from data breaches and empowers a paradigm shift in application and service designs, including AI models and algorithms.

    Some immediate successes have been managing unsolicited commercial messages (or SPAM), infrastructure, and roaming profiles.

    On the ways in which CIOs and CSOs plan for the adoption of blockchain technology

    C-suite leaders lead initiatives that balance risk and rewards while devising an innovation-focused IT strategy. To effectively adopt blockchain technology, the technology stack must support strong collaboration and interoperability between services and functions. It is also important to adopt industry-leading best practices in infrastructure security and data governance to mitigate the risks associated with cybersecurity incidents. Lastly, shifting investments to a “blockchain-complete” solutions array would help build the momentum and technical capability within the businesses to benefit from the value of decentralised processes and infrastructure.

    On the necessary features and capabilities to evaluate in a blockchain implementation decision-making strategy

    A key driver in evaluating blockchain implementation is a fine-grained understanding of the use case and the business objectives that must be met. An agreement among the project stakeholders and sponsors on this topic can help drive the success of the pilot and production deployments.

    Blockchains enable a foundational digital infrastructure for the business – where the features of immutability and transparency provide the necessary attributes for provenance and authenticity. Organisations looking at digital transformation strategies and adopting blockchain technology must evaluate whether the codebase is available under a suitable open-source license and whether the project on which the enterprise product is based shows a vibrant community of participants. It is also important to ascertain whether some lighthouse deployments can support the choice of such blockchain frameworks. Token-less blockchain frameworks such as CORD allow enterprises to avoid the drama associated with tokens and crypto regulations while putting together a resilient infrastructure that is decentralized, secure, and extensible for many present and emerging use cases.

    On the role that large public cloud vendors play in shaping the adoption of blockchain technology in telcos

    Highly scalable, resilient, and large public clouds have enabled enterprises with the necessary tooling and infrastructure to quickly deploy, manage, and administer nodes that comprise the blockchain ecosystem. Elasticity, security, and high availability, including, in some cases, across cloud vendors, have enabled massively scaled blockchain deployments to service many use cases. In many cases, the availability of securely configured cloud infrastructure for federal/government usage has helped acquire necessary certifications, making these blockchain deployments suitable for government usage. Public cloud infrastructure brings developer-friendly standards-based tools, storage and computing resources, and redundancy, which makes it an attractive option for blockchains like CORD.

    On the regulatory issues that can be addressed through blockchain adoption

    Today’s dynamic digital economy is built around data – production, exchange, processing, and transformation of data drives applications and businesses. Quite naturally, the regulatory approach towards data governance is focused on data rights, consent-based exchange of data, anonymized and aggregation of data, and audit-readiness. Blockchain implementation can address multiple issues around data governance, including the very important one of enabling the logging of consent-based data exchange and abstracting the actual data through reusable digital identifiers.

    While blockchain-based systems enable friction-free transactions across trust boundaries, they also allow a more transparent application of governance mechanisms relevant to the jurisdictional boundaries where the services are available. So, regulatory and governance issues around data privacy, data security, and data access are also addressed in a scalable manner in blockchain infrastructure.

  • Blockchain solutions: Pioneering environmental sustainability and social impact

    Blockchain solutions: Pioneering environmental sustainability and social impact

    Mumbai: Technological innovation has become an essential tool in the fight against climate change and protecting biodiversity. Among the various technological solutions available, blockchain technology has emerged as a promising solution that can revolutionize environmental sustainability efforts and make significant social impacts. Blockchain technology presents opportunities to address some of the most pressing environmental and social challenges. Additionally, the capabilities available in blockchain enable more transparent reporting around compliance with ESG requirements, better auditability for regulators and help businesses declare robust alignment with UN SDG goals.

    Blockchain is a decentralised, digitally distributed ledger that enables secure recording and verification of transactions across a network of computers. Blockchain operates without a trusted intermediary, relying on cryptographic techniques to ensure data integrity and immutability. This decentralized technology enables participants to conduct transactions without a central authority and relies on cryptography to maintain security. The fact that any third-party intermediary is not required to understand the transactions anchored on a blockchain provides insight that goes a long way in addressing any concerns around claims made for compliance with regulations.

    Blockchain interconnects blocks, each containing records of transactions, creating a tamper-proof and transparent ledger. Transactions are verified and added to the blockchain through a consensus mechanism that establishes rules for validation and ensures the integrity of the ledger.

    Today, the question is no longer “Who is using blockchain?” but “What is blockchain being used for?”. Aside from the traditional domains of businesses, the blockchain-based trust infrastructure at scale is used for tracking metrics around ESG. An emerging domain of environmental metrics is being tracked and exchanged using blockchain implementations ranging from decarbonisation of the transport sector, climate adaptation, and funding for vulnerable communities to water usage for agriculture and industry, as well as mapping land use metrics for conservation. Blockchains enable the creation of authentic data streams, which can lead to improved decision-making around the consumption of non-renewable resources, energy usage, and tracking carbon credits and offsets.

    Emerging regulatory approaches around sustainability standards, fine-grained reporting requirements and media interest have driven the need to focus on themes of energy, supply chain and growth of cities as population density increases. Concepts of sustainable development such as the circular economy, innovations in agritech, and increasing usage of smart devices (IoTs) in the form of sensors make it necessary to have an underlying infrastructure which can support high volumes of data exchange while providing provenance and authenticity. Blockchain enables all that along with immutability, thus becoming a strong candidate when information technology architecture is designed.

    Ongoing work on standardizing measuring systems for implementations using blockchains, harmonizing the data models, and more deeply linking to regulatory requirements around reporting are the essential activities enabling blockchain-based systems to demonstrate socially responsible business practices. Blockchain technology holds immense promise for environmental sustainability and social impact, offering solutions to mitigate climate change, promote biodiversity conservation, and foster inclusive societies. By leveraging blockchain’s transformative potential, stakeholders can collaborate to build a greener, fairer, and more equitable future for all.

    The article has been authored by Dhiway co-founder & director of operations Sreevidya Satish.

  • How Blockchain Technology Is Attracting Indian Youth?

    How Blockchain Technology Is Attracting Indian Youth?

    Had you invested Rs. 1 lakh in Sensex last year, you would get a return of Rs. 1.2 lakh by now. The same investment would give you a return of Rs. 1.7 lakhs if you had invested in Bitcoins. You sure have heard about bitcoins and cryptocurrency. You might have heard about Blockchain technology and have thought that bitcoins and Blockchain technology are interchangeable terms. Well, that’s not the case. Bitcoin is just one type of cryptocurrency that operates using Blockchain technology.

    A Blockchain is a shared database that consists of blocks of information stored in a digital format. The structure in which data is organized in blockchains differentiates it from a typical database. Blockchain technology is defined as “a decentralized, distributed ledger that records the provenance of a digital asset.” The asset mentioned here can be both tangible such as a house, cash, etc., or intangible such as intellectual property, copyrights, patents, etc. Blockchains facilitate the recording and tracking of assets in a business network. It is the Distributed Ledger Technology (DLT) and the use of decentralization and cryptographic hashing that accounts for the immutability yet transparency of digital assets. Let us find out how blockchain training can benefit you.

    Popularity Among Youth

    It is not just because of the high returns that people invest in bitcoins. When it comes to bitcoins and cryptocurrency, there is a lack of regulation and extreme volatility in the markets. Despite this, blockchain technology can be seen gaining popularity among the Indian youth. Below are some reasons cited by young users who regularly use blockchain technology.

    ●    Well-designed Blockchain trading applications are attracting young people. A percentage of youth regularly invest because of a wonderful user experience. The user interface makes the process of investment and transaction easy.
    ●    A regular user had mentioned that even the biggest banks were not able to put it across in an exact way as to what lay on the screen while they were trading stocks.
    ●    A few others are investing in cryptocurrency for betting purposes.
    ●    A person had taken to blockchain technology for ledger management problems after his family faced land transferring issues.
    ●    A budding young adult said that he had opened an account with a cryptocurrency exchange company after seeing an advertisement about the same. However, when he understood the technology behind the working principle of cryptocurrency, he started investing more and saw his returns grow threefold.  
    ●    Not everyone, though, invests for the returns. Many are aware that they will not be able to make payments using cryptocurrency, and that, at any moment, the Government can declare a ban on it. This percentage of the population makes a calculated investment as this is a bet on this future-oriented technology and its focus on decentralization.

    Benefits of Blockchain Technology

    The popularity of Blockchain Technology lies in its features. Let us see what those are:

    1. Security

    It is a common occurrence for people to send money from one account to another. When money is being transacted, these records can be mishandled. With Blockchain Technology, the mishandling of the data can be prevented.

    The blocks are organized in a linear and chronological manner to the end of a blockchain using a digital signature. Each of these blocks has its own hash along with the hash of the preceding block. Hash codes are created by mathematical functions that turn digital information into an alphanumeric string. Changing the content of the block is extremely difficult, which is what makes Blockchain Technology highly secure. It is not easy for even the system administrator to delete a transaction. Let’s understand this:

    If a hacker wants to make changes to a blockchain to steal cryptocurrency, his copy would no longer align with the copy of the others. For alignment with the other copies, he will need to make changes to all the blocks. A change in all the blocks of the blockchain not only indicates a new hashcode but a new timestamp on them as well. This would involve a lot of money, time, and resources, and most definitely not being able to remain unnoticed, meaning that the venture would prove to be fruitless and, ultimately, a loss to the hacker.

    2. Decentralization

    The information in the database is spread out among various network nodes at different locations. This not only helps in accessing the required information should there be a power failure or internet failure in one of the locations but also maintains the fidelity of the data stored in these blocks. Therefore, if a record in one node is tampered with, all other nodes will cross-reference and easily find out the node that has incorrect information.

    3. Transparency

    With personal nodes or with blockchain explorers, people can see all the transactions, including ones that occur live. Even if hackers are anonymous, the bitcoins that have been extracted or moved can be known. Bitcoin allows the recording and distribution of digital information. The transactions can be recorded only once. The information cannot be altered or mutated, duplicated, deleted, or destroyed. This is the distributed ledger technology of bitcoins.

    4. Smart Contracts

    A smart contract is a set of rules stored on blockchains and executed automatically to speed up transactions. These contracts define conditions for corporate bond transfers, travel insurance payment terms, and more.

    Conclusion

    Information is required to run a business. The faster the information is received and with accuracy, the better it is. Blockchain provides information with transparency related to live transactions that can be accessed by one and all. The information provided is immediate and accurate, to the extent that any information that has been hacked can be easily noticed.

    Therefore it is self-explanatory why blockchain technology is finding a place of such importance in businesses. Today numerous business domains are using blockchain technology to track orders, payments, accounts, and many other tasks.

    Thus, what we understand is that blockchain technology is not just a whim of the young adults but is a serious business that is being considered by the who’s who of the corporates as well.

  • Isobar launches auto industry-first blockchain-powered campaign for CEAT Tyres

    Isobar launches auto industry-first blockchain-powered campaign for CEAT Tyres

    MUMBAI: Isobar India, the digital agency from Dentsu Aegis Network, launched a novel Blockchain-powered campaign to enable transparency throughout campaign delivery and performance for CEAT Tyres.

    By leveraging blockchain technology to create, deliver, and measure the campaign, CEAT Tyres will be able to transparently track all payment transactions that are written to an immutable ledger for every valid ad impression. This will enable them to be assured with confidence that the KPIs of their campaign are met and reported unambiguously. Thus, allowing for reconciliation of their data with an independent ledger which is verified by multiple unbiased parties.

    Commenting on the launch, CEAT Tyres senior vice president, marketing Nitish Bajaj said, “CEAT Tyres focuses on building best-in-class trusted products through a culture of continuous innovation. With that belief, and the promise of this platform powered by Blockchain technology to reach out to a targeted audience is an absolute win-win situation where we put our media investments to maximum use without any spillage, in addition to tracking the campaign at every stage.”

    Isobar, India executive vice president Shekhar Mhaskar said, “ Isobar has always been pioneering in putting to use the latest technological innovation in all spheres of its business, and for the ultimate benefit of its clients. Blockchain, which is making waves in every industry, couldn’t be left behind when it comes to offering an absolute unambiguous view of transactions, deliveries, and measurement of a digital media campaign. We are proud to introduce this as the first digital media campaign in the auto industry with CEAT Tyres.”

    Isobar India senior director, media Prachi Karan said, “This is an auto industry first initiative and we are extremely proud to have introduced this with CEAT Tyres. Staying ahead of the curve, using a creative application of new technology & innovation is something that as a brand both Isobar and CEAT stand for.”

  • Lessons Learned With Bitcoin

    Lessons Learned With Bitcoin

    Blockchain technology is one of the newest buzzwords in business. It is hardly surprising considering that the tech is having such an impact over so many different industries.

    If you look at the infographic compiled by BitFortune.net, you can see how this tech has been changing the way that we approach different business tasks.

    Out of all the industries, however, it is the financial industry that has seen the most upheaval thanks to this tech. Banks have been put on notice that there are faster ways to move money, even when it comes to cross border transactions.

    Blockchain tech shows that there are ways to keep track of assets, transfer ownership, and operate more efficiently and more securely. The Bitcoin network was proof of this in its early days. And banks have been responding by looking into creating their own blockchain based apps over the last few years.

    Are we at a stage where the industry is completely willing to rely on the blockchain tech? Not quite yet. The majority of current uses of blockchain revolves solely around cryptocurrency, and activities such as trading in cryptocoins, gambling on Bitcoin casino websites, and so on. The tech has yet to truly move on into other industries, so it seems that blockchain still has a lot to teach us. When it was still reasonably obscure, it was proven to be a viable system. What it has not yet proven to be is easily scalable, and this is something that companies need to consider.

    Bitcoin was originally intended as an experiment. Did anyone think at the time it would get as big as it did? But the downside to the increase in popularity of the currency is that the system has become a lot more bloated.

    If all things go well, transaction verification takes around 10 minutes on the system. But that depends on how many transactions have been submitted to the chain. The more transactions, the higher the potential lag between transmission and verification. Increasing delays in verification times are proving to be a big issue.

    Also, of issue is that the charges to use the network have increased substantially. And this is another lesson that we can take from here – the bigger and more popular the chain gets, the more computing power it takes.

    In the early days, mining coins was relatively simple and didn’t require any specialized computer equipment. That has changed now as the chain has gotten more popular and more people are trying luck at mining rewards.

    As a result, miners are seeing diminishing returns for mining the system, making it a far less attractive option. And, if the miners decide that it is no longer worthwhile to continue, that could mean that system would slow down so much that it would become untenable.

    The counter move would be to make it more profitable again for miners, and that means increasing the transaction fees again. This, in turn, makes the system less attractive for those processing transactions on it.

    So, no, we are not likely to see all the major banks switching over just yet. There are a lot of kinks to be straightened out first. That said, it will be interesting to see what will people come up with in future as a way of dealing with these issues.

    Article and image courtesy Bitfortune.net.