Competition for VeChain: Cardano pilots authentication system with New Balance

  • Cardano has partnered with New Balance to test an authentication system.
  • Branded products, especially shoes from an expensive collector’s edition, are to be inspected for authenticity.

Producers of clothing, wine and medicines all over the world are victims of counterfeiting, resulting in damage running into billions every year. One application of the blockchain is to record the authenticity and origin of products along the value chain. This is precisely the area in which Cardano enters its founder Charles Hoskinson.

Cardano enters into partnership with New Balance

Already on 28.09.2019 the founder of Cardano announced at the Cardano Summit in Bulgaria that a cooperation between the sporting goods manufacturer New Balance and the Cardano Foundation is imminent. The day before yesterday Cardano confirmed the partnership in the official forum of the foundation and announced further details for next week.

Both companies have jointly developed the New Balance Realchain. This authentication system uses the Cardano blockchain to confirm the authenticity of a selected shoe model. Realchain uses a physical card with an integrated chip that can be scanned with a phone to confirm that the New Balance shoe is genuine.

>> Buy Cardano (ADA) quickly and securely with PayPal, credit card or bank transfer at eToro. Visit Website <<

Buyers can purchase the shoe after it has passed the authenticity check and record this process on the Cardano blockchain. Input Output (IOHK), a research company founded by Hoskinson, believes that this partnership will be the first of many to follow in this sector. Hoskinson is looking forward to continuing to work with IOHK and is confident that New Balance will benefit greatly:

We look forward to seeing what New Balance customers think of the ability to protect their investment by verifying the authenticity of their new purchase forever on the Cardano Blockchain.

Follow us for the latest crypto news!

The strategic partnership marks the first commercial deployment of the Cardano blockchain since the start of the project in 2015.

Competition for Vechain

The best known project in the blockchain scene in the supply chain sector is VeChain. The company already cooperates with well-known companies worldwide. Cardano’s entry came as a bit of a surprise, as the project is actually specialized in solving complex tasks in the financial sector. However, this development shows that the blockchain can be used for more than just an exchange of values.

Meanwhile, the cryptocurrency ADA is unimpressed by this news and continues to show a downward trend (-22% within the last 30 days) at a price of $0.0381.

Best Crypto Exchange for Everyone:

  • Invest in Cardano and 70+ cryptocurrencies and 3,000 other assets.
  • 0% commission on stocks – buy in bulk or just a fraction from as little as $10.
  • Copy top-performing traders in real time, automatically.
  • Regulated by financial authorities including FAC and FINRA.

2.8 Million Users

Get Started


Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

About Author

Please follow me on Twitter for deep analysis. Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.

Comments are closed.