New Balance to Use Cardano to Verify Product Authenticity

Sports footwear giant New Balance will be using the Cardano (ADA) blockchain to authenticate its premium sneakers. Charles Hoskinson, CEO of IOHK, announced the partnership during Cardano’s second-anniversary event at the Cardano Summit in Bulgaria. This was first reported in an article on Crypto Briefing.

New Balance is one of the world’s leading sportswear brands and the partnership aims to weed out ‘parasite brands’ that have copied their image and branding. Cardano offers a consumer-level verification solution that is designed specifically for purchasers to confirm the authenticity of the footwear using Cardano’s distributed ledger technology.

However, it is noteworthy that the native token ADA will not be used during this pilot. While the pilot program is expected to go live soon, IOHK has not provided a timeline for the pilot to go live.

Blockchains are increasingly being integrated into global supply chains by leading businesses. The IBM-Maersk partnership is once such example which is trying to disrupt the shipping industry. VeChain has also partnered with Australian winemaker Penfolds to develop blockchain-encrypted wine bottles.