New Balance will use the Cardano blockchain to fight counterfeiting
by Alexander Romero 
New Balance will use the Cardano blockchain to fight counterfeiting!
Major brands like Louis Vuitton have already announced their attention to use blockchain technology to fight against the counterfeiting of their flagship products.
Today, it is the famous brand New Balance that should use cardano blockchain technology (ADA) to combat counterfeiting of its sports products.
IOHK CEO Charles Hoskinson made the announcement on Saturday at the Cardano Summit in Bulgaria, reports Cryptobriefing.
According to Hoskinson, the partnership will start with a pilot program but will eventually extend to a global solution.
We do not know if the Cardano ADA token will be involved or only the cardano blockchain technology that has recently launched its testnet Shelley precisely.
The announcement made by the CEO of Cardano is very vague and does not specify which products from New Balance will be concerned but it is a significant announcement for this new blockchain.
Cardano has a very long roadmap and intends to compete with other blockchain already in place like Ethereum, EOS or Tezos.
The use of blockchain technology to fight against counterfeiting allouws to prove the authenticity of products, help detect counterfeit products and thus allow resellers of New Balance products to easily prove that their stock is authentic.
This is the first prestigious partnership announced by Cardano who is certainly looking to be part of the leading blockchains.
Charles Hoskinson who previously worked for the Ethereum blockchain or with Dan Larimer the creator of the EOS blockchain.
In 2017, a Chinese court awarded $1.5 billion in damages to New Balance who discovered that a company was selling copies of the New Balance models as “New Boom”.
Counterfeiting is therefore a scourge for brands and blockchain technology could therefore help them fight criminals that are increasingly numerous on the market.
Counterfeiting affects all products like fashion, electronics, perfumes, watches, jewelry, luxury brands, etc …
We can also mention the French project Arianee (ARIA) a blockchain solution to track and authenticate products to fight against counterfeiting.
“The Future of Ownership: a blockchain based, open source protocol building perpetual relationships between brands and owners” as it says on their website.
Arianee was recently chosen by Vacheron Constantin, the famous luxury watch manufacturer in Switzerland, which belongs to the Richemont Group, the world’s second largest luxury brand behind LVMH.
Arianee blockchain technology will help Vacheron in the traceability and authentication of its watches to fight against counterfeiting through digital identity via the blockchain.
