Copy link
Increase text size
Decrease text size
Link copied

H&M subsidiary Arket trials blockchain for product traceability

Photo: H&M

Thu, 15 Nov 2018, 04:28 am UTC

Arket, the in-house brand of clothing retail giant H&M, is testing blockchain technology for product traceability, The Next Web reported.

The trial is being conducted in collaboration with blockchain technology developer VeChain.

An Arket spokesperson confirmed the blockchain trial to Hard Fork via an email. The spokesperson said the trial aimed to leverage blockchain technology to trace product data in a secure manner.

“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.”

TNW reported that speculations on the collaboration between Arket and VeChain started after some cryptocurrency enthusiasts shared videos on social networking sites that showed users trying out the blockchain implementation at Arket locations in London.

Arket further clarified that the test is ongoing and has not been evaluated.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $9,226.59 (-0.52%)
  • Ethereum (ETH) $239.30 (-0.85%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $231.72 (-2.04%)
  • Bitcoin SV (BSV) $181.42 (-2.21%)
  • Bitcoin (BTC) $9,226.59 (-0.52%)
Feb 21, 2020 (Friday)
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
Brazil to launch new payment system in response to cryptocurrencies
Digital currency exchange Coinbase Pro lists Kyber Network token
Norwegian Air to soon start accepting crypto payments
Swedish central bank begins CBDC pilot with Accenture
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
Telecom companies complete cross-carrier mobile payments using blockchain
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
South Korean ICO project discontinued, to return $7.5M to token holders
Samsung maintains crypto support in soon-to-launch Galaxy S20
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
Coinbase becomes first crypto company to receive Visa principal membership
Dubai Economy and six banks launch KYC Blockchain Consortium
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.