November 11, 2020, Shanghai — With an ever-increasing number of businesses looking to adopt blockchain, VeChain’s array of real-world ready solutions places it in a uniquely advantageous position in the age of blockchain adoption. From supermarket chains such as Walmart to medical companies such as Bayer, VeChain empowers all businesses with its highly efficacious blockchain solutions. VeChain ToolChain™ allows companies to effectively leverage dark data for a variety of purposes; from providing real-time oversight of goods from across global supply chains to enhancing brand awareness and prestige as well as enabling greater transparency and trust for consumers and even helping drive more responsible purchasing habits.
VeChainThor continues to demonstrate its versatility across multiple business sectors, enhancing businesses both large and small. On 11 November 2020, VeChain ToolChain™ was announced to be powering the 300-piece, limited edition garment collection of The Bitcoin Movement, establishing provenance and improving marketing and consumer interaction. The collection was designed in collaboration with the English rapper and entrepreneur Zuby, whilst simultaneously debuting the campaign and themed pieces titled “Take the Power Back”.
VeChain x The Bitcoin Movement: World Class Solution For Truly Representative Collection
Integrated with VeChain ToolChain™, each garment from this limited collection has a blockchain-linked NFC chip embedded, eliminating the possibility of duplicate garments being created and sold fraudulently. The 300 NFC chips used for this collection are bound by a unique transaction ID that can only be retrieved using The Bitcoin Movement app, enabling the verification of both origin and authenticity of the items. The app will display relevant traceability information such as the product lifecycle as well as videos, imagery and other features.
Entrepreneur, artist and founder of The Bitcoin Movement, Daryl Kelly comments “I wanted our first blockchain limited edition collection to be truly representative of the philosophy of Bitcoin. Embodying the attributes that have made it so disruptive, successful and attractive to those who seek truth and transparency. VeChain’s industry-leading public blockchain technology perfectly fits our movement. Every aspect of this collaboration was carefully curated and we hope the result is a body of work that further educates people about Bitcoin and the power of blockchain technology. We hope this collection will find its place in history as one of the early truly verifiable limited edition blockchain-based streetwear collections.”
VeChain ToolChain™ Meets Fashion: Beyond Authenticity
The fashion industry continues to suffer from a rising trust deficit. According to the World Customs Organization, counterfeit goods have cost the fashion industry more than £5 billion in revenue over the last 20 years, which has made “radical transparency” a trend for the fashion industry, as highlighted in the State of Fashion report. Consumers are demanding access to trustworthy data sourced directly from the product’s manufacturing cycle. Such data benefits consumers shopping online or in store, knowing that claims made by a manufacturer are both verifiable and true. Blockchain emerges as the undisputed method to bring total visibility to the production lifecycle of contemporary fashion.
Aside from this collaboration with The Bitcoin Movement, VeChain have accumulated other proven use cases within the fashion industry, such as the initial limited edition collection of sneakers of SBTG (influential Singapore sneaker artist) showcased on Street Superior, which integrated VeChain smart chips and blockchain technology to ensure its authenticity. The London-based fashion brand Sarah Regensburger also recently announced it had deployed VeChain ToolChain™ to establish the end-to-end provenance of its limited edition products.
Sunny Lu, co-founder and CEO of VeChain, said, “Owing to a lot of brands inculcating the technology, the demand for blockchain traceability and authenticity solutions in the fashion industry will observe staggering growth in the years ahead. We’re excited to be powering The Bitcoin Movement’s products, and this collaboration further exemplifies the decentralized aspect of our public blockchain which perfectly fits the Bitcoin, cryptocurrency and decentralized blockchain movement. VeChain ToolChain™ provides the most market-ready platform to ameliorate counterfeiting and present information to customers. VeChain intends to be a key enabler and help lead the growth prospects of this market in the future.”
With a user-friendly, powerful and flexible feature set, VeChain ToolChain™ provides the necessary features to enable companies both big and small to empower their products. Apply for your free VeChain ToolChain™ trial kit and begin your own blockchain journey, today.