Last week, a Chinese province introduced a new platform that uses AI, big data and blockchain to weed out counterfeit products in e-commerce.
China’s Zhejiang Provincial Market Supervision Bureau and State Administration of Market Supervision launched the ‘National Network Transaction Monitoring Platform’. The bodies fulfil a similar role to the Federal Trade Commission in the U.S. and the Trading Standards Institute in the U.K. though it may have access to more data about transactions.
The new system will monitor sales of products sold online. It will collect relevant information, including after-sales reviews, return records and product promotions, to identify fake products in the market.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
