“Customs and Border Protection tested the feasibility of using blockchain to protect intellectual property rights (IPR) information transmitted between multiple commercial companies.”
“In a late February statement, CBP said the proof of concept demonstrated blockchain can encrypt sensitive data and track it via an electronic ledger to protect IPR on imports, as well as the sensitive data shared among manufacturers, retailers, rights holders and importing companies.”
“CBP has long fought against imported counterfeit goods of all stripes, from toys and athletic wear to prescription drugs, saying they cost U.S. companies hundreds of millions of dollars every year in lost income.”
“The proof-of-concept blockchain connected product data correctly to the product and to the license, resulting in fewer physical examinations of products being imported, according to CBP. The seven companies participating in…” Read the full article here.
Source: Blockchain protects IP, tracks tires, supports coronavirus response – By Mark Rockwell and Susan Miller, March 13, 2020. GCN.