New Balance to use Cardano blockchain
|- New Balance announced partnership with Cardano.
- Consumers will be able to verify the authenity of the products they purchase.
The US-based clothes and shoe manufacturer New Balance and the developer of Cardano blockchain entered a partnership, according to IOHK CEO Charles Hoskinson.
An American custom service wants to track the shipments via blockchain. According to the press release, New Balance will use IOHK technology to verify the authenticity of the products. Initially, the program will be launched as a pilot project; however, the companies plan to expand it and use it at a global state.
However, the partners do not plan to use cryptocurrency ADA.
Earlier, New Balance complained that several companies thrive on the brand. However, it managed to build a strategy to reduce the negative impact. The solution developed by IOHK is focused on consumers. It will allow users to make sure that they buy authentic snickers by checking them on the blockchain.
The pilot project is scheduled to be launched in November. It is worth noting, that lots of cloth manufacturers started to implement blockchain. Notably, American brand Alyx wants to use IOTA blockchain to track the shipments.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.