The U.S. Customs and Border Protection (CBP) said it recently completed a proof-of-concept (PoC) of a blockchain platform to protect American businesses from intellectual property rights (IPR) theft by testing imports.
The PoC demonstrated how blockchain could enable secure communication between multiple parties such as manufacturers, retailers, rights holders and importers using a single platform.
IPR owners live under the constant risk of their product getting copied, primarily due to the ease of access to overseas manufacturing. CBP is leveraging blockchain to tackle the import of counterfeit products.
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