VeChain (VET) Product Tracking Pilot Project Launched by H&M

VeChain is being tested by H&M fashion empire for Arket – their clothing brand which is trying out the blockchain based technology to track the respective products.

VeChain (VET) Product Tracking Pilot Project Launched by HM

Before anything official was announced or declared by the in-house brand, on the social network Twitter and aggregator Reddit rumors initiated their doing. Afterwards the team from the subsidiary of H&M confirmed that blockchain implementation is taking place:

“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.”

Via a scanned a product’s NFC chip, the user shopper in this case can access info and tracking data of the product like origin, material, supplier and so on.

VeChain (VET) is a blockchain cryptocurrency that operates on the BaaS (Blochchain-as-a-Service) framework. VeChain’s main objective is to decentralize and transform how global business supply and management chains are monitored. VeChain aims to achieve this through the provision of a faster, transparent and trust-free platform.

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