The fashion and clothing giant H&M has officially confirmed that it has used the VeChain Thor Blockchain in a test run. The in-house apparel brand Arket has experimented with the blockchain company to track products.
First rumors about a pilot project already came up in October this year on Reddit and Twitter. Now a spokesman from Arket told The Next Web that a test was running and had not yet been evaluated.
Arket carried out a small Proof of Concept (POC) in a pilot test with VeChain to ensure the traceability of product data in the value chain with the help of blockchain technology. The test was performed on a wool cap from the 2018 autumn collection.
Conscious buyers can simply open their VeChain app before purchasing, scan the NFC chip of a product and retrieve information such as used material, artist ID, color, supplier, origin and manufacturer name.
shopping in London… with VeChain… Real use, real value.. Adoption! @vechainofficial #VET $VET pic.twitter.com/vDVZlOHmFu
– Dimitrios Neocleous (@_DiNeocleous) November 2, 2018
Vechain has been able to draw attention to itself again and again in the past months with well-known partnerships. DNV GL bought a stake in VeChain earlier this year to increase the traceability and transparency of its products. In mid-October, VeChain and DHL Asia announced a logistics research collaboration to drive joint solutions for further optimization of internal processes at the DHL Asia Pacific Innovation Center. Back in June 2018, the VeChain Foundation announced that it would be working with DB Schenker, one of the world’s leading logistics service providers.
VeChain is a project that already has a large number of practical applications and a functioning product. The Vechain (VET) is a blockchain crypto currency that works as a Blochchain-as-a-Service. VeChain’s main goal is to decentralize and change the way companies monitor their global supply and management chains. VeChain wants to achieve this by providing a faster, transparent and trustworthy platform.