iTRACE Technologies has upgraded its iTRACE 2DMI technology. The upgrade integrates AI and blockchain technologies to protect brands and consumers from fraudulent activities.

The solution's new features include AI-based counterfeit product detection, connecting to the blockchain for guaranteed secure authentication, easy product verification via its mobile app, and applicability to high-security sectors such as electronics, luxury goods, medical technology, pharmacy, automotive, and aerospace.

The company claims that the updated solution provides enhanced security against counterfeiting, increased efficiency, and expanded client capabilities for product and consumer protection. It also states that the integration of AI and blockchain technology can tackle complex challenges in global supply chains and is significant given the recent disruptions in global trading.

iTRACE Technologies specializes in supply chain security solutions, particularly anti-counterfeiting and anti-diversion technologies. Its key offering, iTRACE 2DMI, uses patented marking technology that can be applied to nearly any material. This technology supports integration with blockchain, enhancing traceability and security across different industries, including automotive, aerospace, and defense​. 

Analyst QuickTake: Combating counterfeiting and fraud has been a key focus area for startups in the Supply Chain Tech space. Earlier this year, Sensos and Descartes Systems introduced new features to their solution suite to detect and manage fraud. In addition, in February 2024, Flexport relaunched the "Convoy Platform," which also offers fraud detection technology to prevent fraud across supply chains.