Blockchain technology functions primarily like a database, holding information in a digital ledger consisting of distinct separate blocks, with every new transaction adding to the chain.
Counterfeiting is a trillion-dollar industry. Last year, the U.S. government seized counterfeit luxury goods that can fill 22 shipping containers. They included counterfeit Tory Burch purses, Hermès belts, and Gucci bags and in total were worth $500 million.
At any one time, business enterprises are looking for new ways to better interact with their customers. The aim is to create a more convenient and personalized customer experiences.
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