Cryptocurrencies

National Rugby League, IP Australia, and Blockchain

There is no lack of fake products in the world. Moreover, it is quite hard to investigate such cases. As a result, companies are losing a lot of money every year. Australia’s top-tier rugby league in cooperation with IP Australia decided to take measures against fake products. The National Rugby League along with IP Australia will trial a blockchain-based application to limit the sale of counterfeit products.

People who are unfamiliar with IP Australia may find it hard to understand, how it can help solve this issue. It is worth noting that, IP Australia is an agency of the Department of Industry, Innovation, and Science. Let’s have a look at this agency. It regulates the issuance of intellectual property rights and legislation regarding the patents and registered designs. It also deals with plant breeder’s rights in Australia.

Online merchandise stores and blockchain

Importantly, the new application uses blockchain to enable trademark owners to link their products to the government register. As a result, it acts as proof of their products’ authenticity and their origin as well as helping them control the use of their label.

The National Rugby League will link two of its online merchandise stores NRL Shop and Savvy Supporter with the platform as part of the trial. As a result, customers will be able to verify that IP Australia checked the websites. Moreover, customers will also be able to view information regarding the registered trademark by clicking on the trust badge.

Interestingly, the “trust badge” initiative of IP Australia is part of the agency’s Smart Trade Mark platform. The purpose of this platform is to improve the tracking and tracing of authentic products and minimize the sale of counterfeit products.

Moreover, IP Australia is also working with the Indigenous Land and Sea Corporation as well as the Australian Nuclear Science and Technology Organisation to test the use of their blockchain application. Thanks to new technologies, it will be easier to fight against counterfeit products.

Share
Published by
Amanda Hansen

Recent Posts

  • Cryptocurrencies

Bitcoin Retreats to Mid-$57K Post-Fed Rate Decision

Quick Look: Bitcoin price currently consolidates around $57,000, down by 5%; Fed maintains high interest… Read More

1 day ago
  • Technology

Microsoft’s $1B Investment in OpenAI to Rival Google

Quick Look: Microsoft invested $1 billion in OpenAI in 2019 to catch up with Google… Read More

1 day ago
  • Cryptocurrencies

Ethereum in Ascending Channel: Risk at $3,000, Upside to $3,500

Ethereum in Ascending Channel: Risk at $3,000, Upside to $3,500 Quick Look: Bullish Channel: Ethereum… Read More

2 days ago
  • Technology

PayPal’s Strong Start in 2024: $403.9B Payment Volume Surge

PayPal's Strong Start in 2024: $403.9B Payment Volume Surge Quick Look: Significant Volume Increase: PayPal… Read More

2 days ago
  • Broker News

XTB Steps Into UK ISA Market, Plans Autumn Launch

XTB announced its entry into the UK's £400 billion ISA market less than a quarter… Read More

3 days ago
  • Brokers Reviews

BTN Centre Review

In this BTN Centre review, we will embark on a trading journey, where cutting-edge technology… Read More

3 days ago