The European Union Intellectual Property Office (EUIPO) has tested its Blockchain-based anti-fraud tool for fraud prevention in brands, border control and logistics operators. In the statement made by the institution, he said that the pilot studies were promising.Blockchain technology maintains its place in this field as it develops rapidly with each passing day. Many regulatory agencies make statements on this issue. This time EUIPO, the European Union’s intellectual property office, said that blockchain-based anti-fraud trials are showing promise. EUIPO encourages investors and customs officials to use open source tools to authenticate branded products.
EUIPO wants investors and customs officials to use open source tools to authenticate branded products. However, they stated that they were hopeful in the trials conducted in this area.
He noted that blockchain-based anti-fraud tools show promise. This trial was conducted by undergoing real-life operational tests with four brands, two logistics operators and a customs office.
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