IBM partners for blockchain counterfeiting solution
Written by Hannah McGrath
IBM is partnering with data storage firm Seagate Technologies to develop a blockchain solution to product counterfeiting.
The joint project is focussed on using distributed ledger technology (DLT) to prevent the growing use of counterfeit hard drives. Global trade in counterfeit and pirated electronic products has reached more than $1.7 trillion in value, according to the figures from the International Anti-Counterfeiting Coalition.
IBM and Seagate will build their solution using IBM’s Blockchain Platform to authenticate the provenance of disk drive products at the point of manufacture, bringing a new level of multi-layered security protection.
The data stored on the blockchain then serves as an ‘electronic fingerprint’ to prove the identity of a hard drive at any point during the product lifestyle. The solution will also rely on Seagate’s cryptographic erasure technology to produce a digital certificate, guaranteeing data erasure for compliance management with emerging global data privacy laws.
Bruce Anderson, global managing director for the electronics industry at IBM, said: “Blockchain technology can be extremely effective in confirming provenance and authenticity of assets.
“The ability to work with Seagate to combine blockchain with advanced cryptographic product identification technology is what sets this work apart, and signals blockchain’s potential to reimagine the electronics product life cycle management processes.”