Role of Blockchain Technology in Ensuring Authenticity of Products Sold Online

ABSTRACT
This research paper clearly examines how blockchain technology helps in ensuring the authenticity of products sold online and addresses the main research problem that is the difficulty in verifying the authenticity of the products sold online. This issue arises due to the lack of transparency and reliability in traditional supply chains, as in this the product passes through various stages and at that time the information can be easily manipulated or may be incomplete.
Using a doctrinal and analytical approach, the study examines the relevant legal provisions, academic literature, and real-world examples of supply chain management which uses blockchain technology. The research highlights what blockchain technology is and how it strengthens the trust of the consumers in online transactions by ensuring secure, protected, transparent and incorruptible records. This technology allows continuous traceability of the products from their original source to the final consumer, which helps with authentication of products. In online markets, blockchain technology reduces the growing issue of counterfeit goods by ensuring traceability and transparency. With better legal support and more adoption, it can ensure that the online products are genuine and build stronger trust among the buyers. However, certain challenges like higher costs, technical problems and unclear regulatory rules limit their growth and overall effectiveness.
According to the study, blockchain technology helps in ensuring the authenticity of online products with transparency and traceability but there are some challenges with that like higher costs, technical problems and unclear regulatory rules.