ReCheck takes an active role in fighting counterfeit goods in the EU. As e-commerce expands to unseen levels, it creates new challenges for consumers when it comes to validating the authenticity of the products they have purchased. In 2017, 10 % of EU consumers were lured into buying a fake product, whereas 35 % could not confirm whether the product they had purchased online was real or fake.
The Blockathon Forum at a Glance
According to OECD/EUIPO, almost 7% of all imports into the European Union are counterfeit goods, which is estimated to EUR 121 billion in illegal trade. Sadly, the negative effects of counterfeiting are not just limited to economic loss, but they also pose a major risk to consumer well-being and safety.
As a result, the EU has committed to fight against counterfeiting. At the end of 2017, the European Commission created a comprehensive package of measures to implement a balanced IP enforcement system that will alleviate today’s societal challenges. It confirmed that it will take vigorous actions to support initiatives to combat IP infringements and strengthen the capacity of customs and other respective authorities to protect IP rights.
Through utilizing innovative technologies such as Blockchain, products can be tracked and traced throughout its supply chain. In 2018 the EUIPO, together with the European Commission, organised the first ever anti-counterfeiting blockchain forum as a first step to fully explore this potential.
On November 29th, 2019, the EUIPO hosted its second meeting in Brussels. ReCheck’s CEO, Emiliyan Enev was one of the few selected participants and members of the Forum to take an active role in the discussions regarding fighting counterfeit. Along with the current challenges debated, the Forum had to discuss its progress towards the set goals.
Lisa Jefferis and Benjamin Winsner from the EUIPO office presented the newly created collaboration platform and its potential to positively impact the fast and secure sharing of good practices and employing new approaches towards fighting counterfeiting.
Pierre Marro from the European Commission presented the European blockchain services infrastructure and some recent ongoing developments.