Planning the Application of Blockchain Technology in Identification of Counterfeit Products: Sectorial Prioritization

Abstract

Decision making at the top level is very complex. One important responsibility of the policy makers and the governance system is to plan the safety and security to its citizen and consumers for the firms. This research address of the main concern of counterfeiting goods in today’s time. This research identify the potential and needs of the distributed ledger technologies like blockchain and their application potential to combat the problem of counterfeiting in Indian economy. The research uses SWARA (Step-wise Weight Assessment Ratio Analysis)-WASPAS (Weighted Aggregated Sum Product Assessment) methodology after expert opinion gathered to understand the problem better and it results into the prioritization of application of blockchain in different industries. SWARA is applied to evaluate the weights of the criteria and WASPAS to evaluate and prioritize the alternatives.