Fasiculus enlightens about packaging block chain technology
Authentication Solution Provider Association (ASPA) celebrated their 20th anniversary with the second edition of Authentication Forum, held from March 15-16, 2018 at New Delhi. The main agenda of the conference was to educate industry stakeholders about prevailing counterfeiting threats, brand protection measures, new anti-counterfeiting technologies and government policies. It was a wonderful opportunity for brand owners, printing &packaging companies and brand protection solution providers for networking and working towards a common goal of eradicating forgery at all levels.
Ranesh Bajaj, Director- VINSAK India Pvt. Ltd & Co-Founder at Fasiculus focused on next generation Packaging Block chain technology and highlighted various advantages for the packaging industry and brand owners. Some of the key takeaways from his presentation Christened Fasicuchain, this blockchain will have the following features:
- 1st Block chain which is unique and solely designed for the packaging industry.
- It links the entire physical packaging and product distribution chain to the digital ledger.
- It uses cryptography technology to prepare smart tags which can be inserted in packaging for the purpose of authentication at each level.
- Any change in packaging will be updated in the digital ledger automatically and the data can’t be altered.
- The digital ledger is transparent but still offers pseudonymity if requested by the owner.
- Track & Trace and Authentication capability at all levels.
The packaging block chain does not have any industry limitation and can be implemented for any industry such as consumer durables, food products, pharma, machines, automobiles & IOT devices.
Ranesh Bajaj said, “The current penetration of Block Chain technology is not even 1% globally. Fasiculus will continue to enlighten the industry about its importance and why they need to be early implementers by joining the Fasicuchain consortium.“
“It’s a privilege to be a panelist & speaker at ASPA conference. The industry needs such type of conferences to fight against counterfeiting. This platform gives a unique advantage to brand owners to show their various security concerns and suppliers to educate & remove the security constraints. We at VINSAK & Fasiculus will continue to strive for excellence in secure product packaging and offering the provenance of the product,“ he concluded.