Revolutionizing Product Exchange: Implementing Blockchain-NFT Technology for Ensuring Trust in Product Transactions

Competition for a larger market volume has led to increased production of counterfeit products. The challenge of distinguishing between the original product and the counterfeit leads to losing customer confidence in the products available. This problem can lead to financial losses and significantly negatively impact businesses. In this paper, a novel system architecture based on blockchain technology is developed to ensure the authenticity and identity of products by generating a non-fungible token (NFT) for each product. When the buyer receives the NFT for a purchased product in his wallet, the buyer's payment is automatically transmitted to the seller, providing security to both parties involved in exchanging goods and transactions within the system. The system transaction cost is evaluated by analyzing the gas consumption across various blockchain networks, which shows the potential of the proposed system to mitigate the existing challenges within the supply chain.

کلیدواژه ها:

Product Counterfeit Blockchain Smart Contract Non ، Fungible Token Anti ، Counterfeiting