New Balance implements a blockchain for fight against a counterfeit

In the middle of October, 2019 the producer of the New Balance Athletics footwear announced start pilot a blockchain program for tracking of a new series of basketball shoes which will allow users to distinguish authentic products from counterfeit.

For development of the Real Balance Realchain program the New Balance company integrated with Input Output Hong Kong. New a blockchain system it will be constructed on the basis of the IOHK Cardano platform. The New Balance Realchain platform will be started along with release of a new series of the OMN1S footwear.

The producer of the New Balance Athletics footwear announced start pilot a blockchain program for tracking of a new series of basketball shoes which will allow users to distinguish authentic products from counterfeit

Upon purchase of OMN1S users will receive the Realchain card with the built-in chip of identification and security. The chip can be scanned using a special application of New Balance which will allow to identify the given pair of shoes in a blockchain system of IOHK Cardano and will confirm its authenticity. The user can also declare the property right to this pair of shoes, having entered the code printed on a uvula of sneakers. From this point the property right to this pair of shoes is reserved for the owner using the same blockchain platform.

The IOHK Cardano blockchain platform will be for the first time unrolled in retail trade, and her developers hope to make use of the got experience for new projects. The company New Balance intends and to use blockchain technology for tracking of the products from now on.

The company hopes that IOHK Cardano will be able to throw down a challenge to a counterfeit which size of the market, according to data of International association of trademarks (INTA), in 2018 reached about $1.13 trillion Software to forecasts of association, in 2022 the total estimated value of counterfeit and piracy products, including digital piracy, will reach huge volume in $1.90-2.81 trillion^[1]

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