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Get Real: Preventing Counterfeit Product with Blockchain | Foley & Lardner LLP

The counterfeit business is booming. In fact, counterfeit goods account for a whopping 3.3% of global trade and cost the U.S. economy approximately $600 billion a year. .

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How Blockchain Can Prevent Counterfeit Products

Blockchain helps tackle counterfeiting by identifying provenance of a product because blockchain provides a secure and trusted tracking system. Legal enforcement agencies can establish the counterfeit nature of suspect products, and companies can protect their bottom line.

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