IOHK has announced a strategic partnership with the leading sneaker brand, New Balance to use the Cardano (ADA) blockchain to authenticate its range of premium sneakers.
The partnership will see New Balance use the Cardano blockchain to authenticate the premium brand of sneakers. Beginning as a pilot, the plan is to roll out the programme worldwide.
New Balance had global revenue of $4.5bn last year. The new collaboration is aimed specifically at the secondary market, allowing buyers to verify that the shoes they are buying are indeed the genuine article.
Companies have already begun experimenting with distributed ledger technology in their supply chains. VeChain’s entire model rests on allowing interested parties to monitor goods as they cross global supply chains. Back in early 2018, the French supermarket brand Carrefour said it was planning to use blockchain technology for a premium brand of chicken.
The pilot programme is expected to go live very soon. A source familiar with the matter told Crypto Briefing that it is expected to go live in October.
An IOHK spokesperson declined to comment on when the partnership would go live.
This is a breaking story and will be updated.
The post New Balance To Use Cardano In Global Supply Chain appeared first on Crypto Briefing.
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