Recently the new partnership between Cardano and the sports brand New Balance has been announced. Why would New Balance be interested in Cardano? Well, as expressed by IOHK’s CEO, the sports brand will use the Cardano Blockchain to authenticate a Premium line of shoes for training that the company plans to launch.
Charles Hoskinson said that last year, New Balance had to confiscate about 25 million pairs of fake shoes. This is where the Blockchain comes to work to guarantee the authentication of the line.
As reported, this will begin as a pilot, however, the goal is to be implemented globally. However, it is worth clarifying that, for now there seems to be no intention of using ADA.
These types of companies are in a continuous fight against the counterfeits that other companies make of their products. In fact, according to an investigation by the International Trademark Association, only in the particular case of New Balance about $1.13 billion was lost in this matter.
So obviously this makes us wonder if it could not be possible for other major brands in the world, which suffer from this problem, to join the Blockchain in order to build better supply chains and reduce the risk of counterfeiting.