Cardano, a public blockchain, is reportedly partnering with major shoe brand New Balance to help combat counterfeiters.
By authenticating the company’s premium line of training shoes, Cardano can produce blockchain-based data that consumers and retailers can trust, adding value to products and solving real-world problems of physical goods.
Charles Hoskinson, co-creator of Ethereum and CEO of IOHK, the development company behind Cardano, tells Decrypt,
“It provides a lot of things to New Balance that they’re really struggling with. Last year New Balance confiscated around 25 million pairs of fake shoes. Authentication is a very expensive proposition for a bunch of brands. What we can bring to the table is not only a very better way for them to accommodate this but also potentially create a marketplace.”
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