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Shoe company exploits blockchain technology to allow customers authenticate products
Major, a Washington DC-based sneaker shop; Reebok, one of the world’s leading sneaker brand; and Chronicled, a San Francisco-based technology firm, have teamed up for a limited edition shoe that comes with an official authenticity “smart tag”.
Sneaker Bar Detroit reported that to celebrate Independence Day, the entities have come together for MAJOR Reebok Phase 1 Pro USA that is equipped with smart tag from Chronicled, which contains encrypted microchips that link the objects to their digital records. Smart Tags give each sneaker a digital presence on the Internet, allowing anyone to verify a sneaker's authenticity with the tap of a mobile phone.
The Chronicled FAQ page still states that the company intends all product registrations to be hosted on a blockchain based system, adding that besides bitcoin blockchain, the Ethereum project and other new blockchains, permissioned ledgers, and sidechains could be viable candidates. SBD, however, reported:
“Each tag contains a tiny chip with a unique and unforgeable product “fingerprint”, stored on the Ethereum blockchain”.
Priced at $130, the Reebok x MAJOR Phase 1 Pro “Stars and Stripes” is available at MAJOR in-store as well as online. The product description on the website says:
“The 80’s and 90’s influence played major parts in creating this shoe. Phase 1 Pro was a very popular shoe on the streets of DC, specifically in Georgetown, where the classic look dominated the scene. For this collaboration, we also wanted to pay homage to the fact that Reebok provided the official medal stand and athlete uniforms for the ’92 Barcelona games USA team.”
Founded in 2014, Chronicled has developed a full hardware and software platform for authentication, tracking, and social engagement around collectible and vintage sneakers. In March, that startup announced that it raised an additional $3,425,000 in a series seed financing round led by VC firm Mandra Capital, with participation from Colbeck and Pantera Capital, a leading investor in blockchain technology.