VeChain News: The fashion empire for Arket, H&M is currently testing VeChain’s product that will employ blockchain based technology to track the respective products.
Before any of the involved parties could announce the big news over there social network Twitter and aggregator Reddit, rumours took the cat out of the back. A team from the subsidiary of H&M later confirmed that blockchain implementation is taking place:
“Arket has done a small Proof of Concept (POC) through a pilot testing with VeChain to use blockchain technology to secure product data traceability in the value chain,” the spokesperson told Hard Fork. “The test was made on a wool beanie from the autumn 2018 collection.”
The blockchain solution will allow the shoppers to access info and track data of the product such as its origin, material, supplier and so on, via scanning the product’s NFC chip.
— Dimitrios Neocleous (@_DiNeocleous) November 2, 2018
VeChain is a blockchain network that runs on the BaaS (Blockchain-as-a-Service) framework. The platform’s key objective is to decentralize and transform the monitoring of global business supply and management chains, by enabling faster, transparent and trust-free platform.