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The Daily Hodl
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Confirmed: Fashion Empire H&M Testing VeChain Technology

by Daily Hodl Staff
November 16, 2018
in Blockchain

Fashion and design conglomerate H&M is giving VeChain a test run. Their in-house clothing brand Arket has been experimenting with the blockchain company to track products.

Rumors of a pilot test started to spread on Reddit and Twitter in October. Now, a spokesperson at Arket tells The Next Web that a test “is ongoing and has not yet been evaluated.”

“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 test was made on a wool beanie from the autumn 2018 collection.”

Before making a purchase, conscious shoppers can simply open their VeChain app, scan a product’s NFC chip and retrieve information including material used, artist ID, color, supplier, origin and factory name.

shopping in London.. with VeChain.. Real use, real value.. Adoption! @vechainofficial #VET $VET pic.twitter.com/vDVZlOHmFu

— Dimitrios Neocleous (@_DiNeocleous) November 2, 2018

Singapore-based VeChain launched another fashion collaboration a few weeks ago, when it teamed up with high-profile shoe artist SBTG to release Adidas shoes containing NFC chips.

You can check out more on that partnership here.

 
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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