The giant shoe producer New Balance Athletics Inc. announced on October 17 the roll out of an experimental trial to track the genuineness of its latest sports shoe with blockchain tech to offer reliance and attribution for each customer.
To give the distributed ledger tech (DLT), the footwear manufacturer partnered with IOHK, a cryptocurrency and blockchain tech firm using P2P innovations to offer financial services, to make sure they create the “New Balance Realchain (NBR)” in time. In this case, the DLT system will be developed on the top of IOHK’s Cardano DLT.
The NBR will takeoff in conjunction with the issue of the OMN1S footwear Friday, and the experimental trial will enable fresh customers to effectively register their possession or ownership rights of the shoes. Using the DLT and blockchain, the information about the genuineness and transactions record of an opulent product can be effectively traced in a transparent and honest way.
In fact, buyers of the New Balance OMN1S footwear will get a Realchain card with an implanted proof and safety piece. After getting the footwear, the client will be in a position to utilize the application (App) and make a scan of a Response encryption code that is displayed on the card and further scan the piece fixed in the card to validate the footwear on the IOHK Cardano DLT network.
After all that, consumers can get the ownership privilege of the item by inserting a code displayed on the bought products into the app. Henceforth, the possession and ownership of the shoe items is tenable to the holder using the NBR DLT network.
The DLT’s practicality to offer authentication for produced goods has been steered for shoes items before by antique shoe manufacturing firm Chronicled Inc., which managed to raise around $3.5 million back in 2016 to develop a related system to New Balance.
Also, the opulent clothing marque Alyx, declared an akin DLT in May this year which applied IOTA Foundation’s distributed ledger tech in tracing and tracking the manufacture of garments from unprocessed materials to finished goods allowing buyers to appreciate the entire process which was used to fabricate their attire.
The firm now plans to have more partnerships with different industry giants and governments including China, Georgia, UK, USA, Africa, etc. and in other major sectors such as pharmaceuticals, finance. The main target is to use disruptive technologies in proving the legitimacy and identity for items, decrease counterfeit and improve value on the products.