Blockchain Allows Sneaker Manufacturer To Prevent Counterfeiting
A sneaker manufacturer has used blockchain technology to create smart tags that can track their sneakers to the factory, so they are impossible to counterfeit, according to fastcodedesign.com. The manufacturer, Greats, tapped the services of a software authentication system and a 3-D printer to design the smart tags. The tags include an NFC chip that can be scanned with a smart phone. The smart tag records the sneakers’ history all the way to its creation. A Way To Battle Counterfeiters. The technology could prove to be a promising way to battle the $600 billion counterfeit fashion....
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Counterfeiting and brand misrepresentation can be fought using the Blockchain technology in conjunction with other collaborative entities. Say experts. We can attach a smart token to a Gucci purse to “prove” it is real. Counterfeiting and brand misrepresentation are issues that have been tricky to handle by internet users. Product protection, especially for artists have posed an insurmountable task due to the anonymous nature of the internet. Even when counterfeiting and brand misrepresentation is detected, managing such cases have also been difficult. Jurisdiction, location, adequate....
Two influential giants in the world of entertainment and fashion, Puma and Roc Nation, have joined forces to create an extraordinary sneaker collection that celebrates the cultural impact of hip-hop and embraces the cutting-edge technology of non-fungible tokens (NFTs). Related Reading: XRP Ruling Sparks Senator Lummis’ Call For Transparent Crypto Regulations The RS-XL Mixtape sneaker […]
The European Union has released a new €50 note with advanced security features as a measure to fight counterfeiting. Unlike its multiple fiat counterparts, counterfeiting is not a problem with Bitcoin. Europe's New €50 Note. The €50 note is the most widely used in circulation, accounting for 45% of all euros in circulation. As such, it is a prime target for counterfeiters. The European Central Bank has therefore implemented multiple new security features in the notes, which counterfeiters will find hard to replicate. These include a hologram of Europa (a figure from Greek mythology), a new....
The European Union (EU) is working on a project that involves blockchain architecture and the use of non-fungible tokens (NFTs) to fight counterfeiting and forgery. The project is the product of several meetings and blockchain hackathons organized by the European Union Intellectual Property Office and proposes to create digital twins of products to trace their path across supply lines.
European Union to Use NFTs to Protect Intellectual Property
The European Union has recently announced that is working on a system that will use blockchain and NFTs as part of its fight against the....
One of the main arguments in favor of fiat currencies as opposed to currencies based on a scarce resource, whether gold, silver or Bitcoins, is that time must be wasted mining something that has no intrinsic value. Would it not be much more efficient, fiat currency proponents argue, to agree to use something easier to produce, like paper, as currency and have one centralized agency prevent counterfeiting? However, while these arguments do have some merit against gold (especially due to the serious environmental damage that can come out of mining), Bitcoin mining is far more than the....