The hackathon will bring together teams, companies, and authorities in order to collaborate to fight counterfeit and fake products and services. The teams will compete in three challenges and the winner will bag €100,000
The European Union of Intellectual Property (EUIPO) is, through the European Observatory on Infringements of Intellectual Property Rights, organizing the first-ever blockchain hackathon or “Blockathon” event in Brussels, Belgium, in June.
The project is being undertaken a partnership with the Infringements of Intellectual Property Rights. They will develop an integrated solution that will help fight counterfeiting activities in the continent. The problem of counterfeiting is huge with 43 million EU citizens bought counterfeit goods in 2017 according to EUIPO Director Antonio Campinos. This is despite measures already in place to deal with the problem. The problem is because authorities and institutions fighting counterfeiting did not have a unified system of operation to counter the criminal activities.
The program will involve teams and companies as well as authorities collaborating to solve the problem.
10 teams are participating in the event, each with four to eight members. There will be three challenges: Consumer Challenge, Customer Authority Challenge and Logistic Operator Challenge. The teams are to fill a simple online application form before April 30 in order to participate in the challenge.
The winner of these challenges will take home a €100,000 ($124,000) prize.
The teams will work together with leading institutions, blockchain experts, industry, government partners and technology companies in creating the blockchain prototype.
The winning team will help the EU authorities to quickly identify fake goods and counterfeiting activities. It will also help legitimate companies to protect their operations and help customers from purchasing counterfeit items.
The blockchain is already using in protecting identity, privacy, and security of data. But also in intellectual property. For instance, the American Society for Composers is using the technology to track ownership of legally protected musical works.