Share this article
Blockchain Anti-Counterfeiting Trials ‘Promising,’ EU Agency Says
The European Union's intellectual property office EUIPO wants traders and customs authorities to use open-source tools to authenticate branded goods.
Updated Jun 16, 2023, 2:26 p.m. Published Jun 16, 2023, 2:26 p.m.
Blockchain-based anti-counterfeiting tools show promise, the European Union Intellectual Property Office (EUIPO) said in a Monday post, after a trial involving brands, border control and logistics operators.
EUIPO has finalized a proof of concept "having engaged in real-life operational tests with four brands, two logistics operators and a customs authority,” following a months-long trial, which showed “promising results,” the agency said of an initiative now known as European Logistics Services Authentication (ELSA), based on a separate project known as the European Blockchain Services Infrastructure (EBSI).
STORY CONTINUES BELOW
EUIPO, an EU agency based in Alicante, Spain, is hoping to develop an open-source platform this year to ensure each link in the trade supply chain can track products and check they’re authentic.
Using distributed ledger technology to fight fakes isn’t a new idea, but hasn't been successful in practice. Proponents of the EUIPO project say by using open source technology it can avoid the fate of unduly centralized systems like IBM’s TradeLens, which last November announced it was winding down.
EUIPO says counterfeits amount to 2.5% of global trade, worth around 412 billion euros ($451 billion).
Read more: EU Project to Fight Fakes Succeeds by Being Open, Founder Says
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Polish Government Urges President to Sign Crypto Bill He Already Rejected: Report
The Polish government reintroduced crypto legislation without changing a single period, after telling the president he needs to sign it to avoid Russian-linked security threats.
What to know:
- Poland's government has reintroduced a cryptocurrency bill that was vetoed by President Karol Nawrocki, with Prime Minister Donald Tusk urging its passage to address national security concerns linked to Russia and former Soviet states.
- The Cryptoasset Market Act aims to align Poland's regulations with the EU's Markets in Crypto-Assets regime, providing a unified framework for crypto oversight.
- President Nawrocki vetoed the bill, citing concerns over stringent regulations that he believes threaten the freedom and stability of Polish citizens.
Top Stories
