New Balance to Employ Cardano Blockchain to Authenticate Product Authenticity
Charles Hoskinson, Cardano CEO, has stated that footwear manufacturer New Balance will be utilizing the Cardano blockchain to assist in validating its products. Charles Hoskinson, CEO of blockchain engineering firm IOHK, stated that the US footwear brand New Balance will utilize the Cardano blockchain to permit its clients to validitate the origins of a gamut of tools.
Cardano and New Balance intend to launch the program worldwide. However, as of now, both parties do not intend to use the ADA token during the trial.
Hoskinson announced partnership details during Cardano’s second anniversary event at the Cardano Summit in Plovdiv, which is Bulgaria’s second-largest city.
Companies involved in diversified businesses have already started employing blockchain technology into their supply chains. Walmart is using blockchain technology to develop a food traceability platform using Hyperledger Fabric of Linux Foundation.
Last month, public enterprise level blockchain platform provider VeChain collaborated with Penfolds, Australian winemaker, to unveil a case of blockchain-encrypted wine bottles for sale as portion of its Wine Traceability platform program.
Back in March 2019, Carrefour unveiled its own blockchain-based platform for monitoring milk. The platform guarantees total product tracking throughout the entire supply chain-from agricultural fields to grocery store shelves.