US-Based Health Firm Adopts VeChain (VET) To Combat Supplement Counterfeiting
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Top Australian shoe manufacturing firms, Case Shiel and The Kickz Stand, have adopted the services of VeChain (VET), a blockchain project that focuses on enhancing supply chain management and business processes, to authenticate Nike Air Max 1 Cherry sneakers.

According to the report, the release of the Nike Air Max 1 Cherry sneakers, will play out on 28th June 2020. The VeChain community has seen this new development as a means for the blockchain project to showcase its use cases to the world.

The Function of VeChain (VET) In the Integration

Going by the Global Brand Counterfeiting Report, brands lost more than $30 billion to product counterfeiters in 2018, while the total amount of global counterfeiting is expected to rise significantly to $1.82 trillion this year.

In order to stop bad actors from counterfeiting the Nike Air Max 1 Cherry sneakers that is slated for launch in a few hours’ time, the two brands decided to adopt VeChain (VET) solutions.

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The Kickz Stand tweeted, “In 2005 the Stüssy SB Dunk was released. Fast forward 15 years later, now we pay homage to a classic. Introducing the Air Max 1 ‘Cherry’ by Chase Shiel and The Kickz Stand. Powered by VeChain Foundation.”

Recall that the Australian shoe manufacturers collaborated with VeChain (VET) in November 2019. Through the collaboration, VeChain was to provide a means for buyers to verify the authenticity of Mars Yard Off White AJ1 sneakers easily.

In a statement credited to VeChain’s Vice President for Asia and Australia, Sarah Nabaa, the latest adoption of VeChain Toolchain for the task ahead is a step in the right direction for the shoe manufacturers.

According to the team, VeChain-powered chip will be placed on each Nike’s new sneakers meant for verification, giving the buyers the ability to see necessary information regarding the product purchased, such as date, location, and others, by scanning the QR code on the product.

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.