RATE Group | New Balance to Use Cardano Blockchain to Confirm Product Authenticity
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New Balance to Use Cardano Blockchain to Confirm Product Authenticity

29 Sep New Balance to Use Cardano Blockchain to Confirm Product Authenticity

Posted at 11:51h in Cryptocurrency News by

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Cardano CEO Charles Hoskinson announced that New Balance will be using the Cardano blockchain to help authenticate its products.

The announcement

According to a Sept. 28 article by Crypto Briefing, Charles Hoskinson, CEO of blockchain engineering startup IOHK, announced that American footwear brand New Balance will use the Cardano blockchain to allow its customers to verify the origins of an range of products.

Cardano and New Balance are planning to roll out the program globally. However, current plans do not entail using the ADA token during this pilot.

Hoskinson reportedly made the partnership announcement during Cardano’s 2nd anniversary event at the Cardano Summit in Bulgaria’s second-largest city, Plovdiv.

Blockchain, global supply chain and health insurance

A wide range of companies have already started to implement blockchain technology into their supply chains. As Cointelegraph recently reported, Walmart is using blockchain technology to create a food traceability system…

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