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August 21, 2023

Practice Work Shop (PWS) On “Can use of blockchain technology in supply chains combat counterfeiting?”

Featuring: Nabira Farman

During last week’s PWS Session, Nabira Farman (Trainee Associate) led a discussion on the topic “Can use of blockchain technology in supply chains combat counterfeiting?” The session commenced with a discussion on how blockchain technology can be applied to supply chain management in businesses to prevent instances of counterfeiting. The members deliberated upon real time instances of such application of blockchain technology by Walmart and the lessons learned from creating a blockchain-enabled system. The discussion delved into whether the potential benefits of adopting a blockchain-enabled system outweigh the costs incurred and the resources expended to overcome the many challenges if it is applied to business-critical functions. The members debated and discussed regulatory and logistical challenges faced by business in successful implementation of this technology to combat counterfeiting. The session concluded with the members deliberating upon whether consumers across industries would truly benefit from the technology and if delivery of authentic goods can be ensured.

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