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ARTICLE · 31 MAY 2022

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Taking A Look At Blockchain And How It Could Be Used Against Counterfeiters

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Blockchain refers to a system that records information in a way that makes it virtually impossible to alter. This technology consists of a block of chains where each chain contains several transactions.

South AfricaTechnology
Masi Mtshali
Masi Mtshali
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Blockchain refers to a system that records information in a way that makes it virtually impossible to alter. This technology consists of a block of chains where each chain contains several transactions. Every time a new transaction occurs on the blockchain, a record of that transaction is added so that changes on the database can be noted and tracked. Blockchain is essentially a digital collection of transactions. The database is managed by multiple participants.

When you consider the concept of blockchain, it is natural to wonder whether this technology is secure and whether it can be trusted. 

We will unpack below some examples of blockchain technologies that already exist, advantages and disadvantages of the technology and finally  how to limit counterfeiting

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