In the battle against counterfeits, luxury brands turn to blockchain technology

A file picture shows a Prada handbag for display in Seoul, South Korea. Photo: Bloomberg

For almost a decade, I’ve been listening to digital prophets predict a future where banks save billions of dollars, customers can trace their mangoes back to the organic farm where they were grown, and financial intermediaries are a thing of the past, all thanks to the blockchain.

I’ve been waiting for that future to arrive, but I’ve never come across it in my daily life.