- Cardano’s Strikes New Deal With New Balance Realchain
- Cardano Going Into Private Partnership Against The Sole Aim OF Creation
Cardano team and New Balance have worked together to create the New Balance Realchain, a novel initiative that employs Cardano’s blockchain to approve the authenticity of a selected model of shoes. The partnership comes with a complete app and a landing page, Realchain uses a card like a debit/credit card with an internal chip that can be scanned with a phone, ascertaining that the New Balance footwear is authentic. The sole aim to Realchain is to check the originality of any selected New Balance product, this can be achieved by inputting a generated code seen on the tongue of the product, thereby locking in the product as their through the Cardano technology.
Cardano recently went into partnership with the athletic wear and sneaker brand New Balance. Ascertaining the originality and authenticity of a retail product has been one of the major functions of blockchain technology, which has been the basis of companies such as IBM and VeChain.
Although the partnership was initiated in September, this is the first step the brand is taking to curb brands copying New Balance.
Cardano Going Into Private Partnership Against The Sole Aim OF Creation
The Cardano blockchain is growing thus, the second of five stages of Cardano –Shelley is projected to be available in the crypto market before the end of 2019 and Q1 2020. Followed by Goguen, which is aimed at smart contracts, a major element of any Defi application.
Earlier in April, the CEO of IOHK, Charlie Hoskinson reassured the community in an interview the launch of Goguen is not dependent on Shelley. He promised that both Shelley and Goguen will be launched in 2019, meanwhile, the official roadmap is already placing Goguen launching in Q1 2020.
Although, before that comes to light, Cardano can only perform basic transactional ability, a similarity shared with Bitcoin and any other blockchain technology. Nonetheless, that is enough to offer supply chain tracking functions. A field with few loyal non-initiative competitors.
IOHK thinks the New Balance Realchain will be the first of its kind in the crypto/shoe industry, even though customer authentication is still required. Hoskinson stated that “We’re looking forward to seeing what New Balance customers make of the opportunity to protect their investment by verifying the authenticity of their new purchase forever, on the Cardano blockchain.”
Cardano (ADA) Price Today – ADA / USD
Name Price $0.038 -1.26%
The Cardano group has been entering into the field of supply chain against fake currency was something most users and analysts did not see coming. As the sole aim of the blockchain is to ease the transaction process for financial institutions. There have been several reports on different governmental or quasi-governmental application cases, but private initiatives were not part of the key purpose of the project.