{"id":266270,"date":"2020-06-26T13:36:14","date_gmt":"2020-06-26T17:36:14","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=266270"},"modified":"2020-06-26T13:36:14","modified_gmt":"2020-06-26T17:36:14","slug":"vechain-announces-partnership-to-verify-nike-air-jordans","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/vechain-announces-partnership-to-verify-nike-air-jordans","title":{"rendered":"VeChain Announces Partnership to Verify Nike Air Jordans"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The applications of blockchain technology have grown to be quite extensive, with more companies listing it to improve their operations. <\/span><span style=\"font-weight: 400\">A new trend, however, has appeared in Australia and it deals with authenticity verification in the fashion space.<\/span><\/p>\n<h2><b>Seamless Authentication for Nike Shoes<\/b><\/h2>\n<p><span style=\"font-weight: 400\">Earlier this week, blockchain-based tracking platform VeChain <\/span><a href=\"https:\/\/vechain101.com\/vechain-x-footwear-shoes-on-the-blockchain-in-photos\/\"><span style=\"font-weight: 400\">announced<\/span><\/a><span style=\"font-weight: 400\"> that it had partnered with Chase Shiel, an Australian manufacturer, to verify the authenticity of the company&#8217;s shoes.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to the announcement, Chase Shiel had partnered with The Kickz Stand, a local shoe retailer, to produce a limited run of Nike Air Max 1 shoes. The sneakers will be based on Stussy\u2019s \u201cSB Dunk\u201d shoe, which made its debut back in 2005. The manufacturers added that they would be making the shows available on sale from June 28, with the Chase Shiel website having exclusive rights.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, what appears to be rather interesting is that the manufacturers will be using VeChain to authenticate each pair. According to a <\/span><a href=\"https:\/\/twitter.com\/TheKickzStand\/status\/1275657202414559237\"><span style=\"font-weight: 400\">tweet<\/span><\/a><span style=\"font-weight: 400\"> from The Kickz Stand, users will be able to trace each pair using VeChain\u2019s ToolChain Suite and the Thor Blockchain.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">In 2005 the <a href=\"https:\/\/twitter.com\/Stussy?ref_src=twsrc%5Etfw\">@Stussy<\/a> SB Dunk was released. Fast forward 15 years later, now we pay homage to a classic. Introducing the Air Max 1 &#39;Cherry&#39; by <a href=\"https:\/\/twitter.com\/chase_shiel?ref_src=twsrc%5Etfw\">@chase_shiel<\/a> and <a href=\"https:\/\/twitter.com\/TheKickzStand?ref_src=twsrc%5Etfw\">@TheKickzStand<\/a>. Powered by <a href=\"https:\/\/twitter.com\/vechainofficial?ref_src=twsrc%5Etfw\">@vechainofficial<\/a>. Releasing on 28\/06 at <a href=\"https:\/\/t.co\/keaTqan7Ms\">https:\/\/t.co\/keaTqan7Ms<\/a>.<a href=\"https:\/\/twitter.com\/hashtag\/vechain?src=hash&amp;ref_src=twsrc%5Etfw\">#vechain<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/vechainthor?src=hash&amp;ref_src=twsrc%5Etfw\">#vechainthor<\/a> <a href=\"https:\/\/t.co\/77cqa3Gx43\">pic.twitter.com\/77cqa3Gx43<\/a><\/p>\n<p>&mdash; The Kickz Stand (@TheKickzStand) <a href=\"https:\/\/twitter.com\/TheKickzStand\/status\/1275657202414559237?ref_src=twsrc%5Etfw\">June 24, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">The Australian shoemaker first <\/span><a href=\"https:\/\/twitter.com\/thekickzstand\/status\/1199940291060355072\"><span style=\"font-weight: 400\">unveiled<\/span><\/a><span style=\"font-weight: 400\"> its partnership with VeChain back in November 2019. At the time, the company announced on Twitter that it would be using the blockchain platform to fight cheap knockoffs and verify its products&#8217; authenticity.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Under the companies\u2019 agreement, all shoes from Chase Shiel will ship with a tracking chip from VeChain. The chip will allow customers and retailers to access comprehensive product details by simply scanning a QR code. By doing this, they can verify the shoes\u2019 authenticity and identify all the important information.<\/span><\/p>\n<h2><b>Fighting a Multibillion-Dollar Industry<\/b><\/h2>\n<p><span style=\"font-weight: 400\">The partnership is quite interesting. Shoe manufacturers like Nike have had significant issues with fighting counterfeiting over the past years, and this product could significantly help them in that fight.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The global counterfeiting industry is a booming one. Last year, the European Union\u2019s Intellectual Property Office <\/span><a href=\"https:\/\/www.france24.com\/en\/20190318-counterfeit-pirated-goods-represent-33-global-trade-report\"><span style=\"font-weight: 400\">reported<\/span><\/a><span style=\"font-weight: 400\"> that the worldwide sales of knockoff goods crossed $520 billion. That number represented about 3 percent of all global trade.<\/span><\/p>\n<p><span style=\"font-weight: 400\">So far, shoes are one of the most counterfeited products in the world. A now-unsealed <\/span><a href=\"https:\/\/www.documentcloud.org\/documents\/6594742-USA-v-Zeng.html\"><span style=\"font-weight: 400\">federal complaint<\/span><\/a><span style=\"font-weight: 400\"> from last year pointed out that an international counterfeiting ring managed to ship thousands of counterfeit sneakers into the United States. The organization reportedly used an elaborate network of fake company names, paperwork, bogus Email addresses, and burner phones.\u00a0<\/span><span style=\"font-weight: 400\">Most of the shoes were fakes of Nike and Louis Vuitton brands, and the complaint estimates that the shoes would have been worth a staggering $472 million if they were real.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Law enforcement authorities have also conducted some significant counterfeiting busts. In August 2018, New York detectives and Homeland Security investigators <\/span><a href=\"https:\/\/www.documentcloud.org\/documents\/6594986-USA-v-Suen-Et-Al.html\"><span style=\"font-weight: 400\">apprehended<\/span><\/a><span style=\"font-weight: 400\"> a group which they accused of smuggling 385,280 pairs of fake Nike Air Jordans into New York and New Jersey \u2013 potentially costing Nike over $70 million in revenues.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Last October, U.S. Customs and Border Protection officers intercepted over 14,500 pairs of fake Nike Air Jordans. As a <\/span><a href=\"https:\/\/www.cbp.gov\/newsroom\/local-media-release\/cbp-seizes-over-22-million-worth-fake-nike-shoes-lalong-beach-seaport\"><span style=\"font-weight: 400\">press release<\/span><\/a><span style=\"font-weight: 400\"> confirmed, the shoes would have been worth over $2 million if they were real.<\/span><\/p>\n<p><span style=\"font-weight: 400\">With the application of blockchain technology, shoe manufacturers like Nike could finally start to take their money back from counterfeiters.\u00a0\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">The applications of blockchain technology have grown to be quite extensive, with more companies listing it to improve their operations. A new trend, however, has <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/vechain-announces-partnership-to-verify-nike-air-jordans\" title=\"VeChain Announces Partnership to Verify Nike Air Jordans\">[&#8230;]<\/a><\/div>","protected":false},"author":1770,"featured_media":266272,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"image","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[10964,10965,7747],"class_list":["post-266270","post","type-post","status-publish","format-image","has-post-thumbnail","hentry","category-more-crypto-news","tag-jordans","tag-nike-air-max-1","tag-vechain","post_format-post-format-image"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>VeChain Announces Partnership to Verify Nike Air Jordans - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"Blockchain-based tracking platform VeChain announced that it had partnered with Chase Shiel, an Australian manufacturer, to verify the authenticity of the company&#039;s shoes.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/266270\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VeChain Announces Partnership to Verify Nike Air Jordans\" \/>\n<meta property=\"og:description\" content=\"Blockchain-based tracking platform VeChain announced that it had partnered with Chase Shiel, an Australian manufacturer, to verify the authenticity of the company&#039;s shoes.\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-26T17:36:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/06\/Nike-Air-Max-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jimmy Aki\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@adejimi\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jimmy Aki\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/266270#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/266270\"},\"author\":{\"name\":\"Jimmy Aki\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/a66ff7827d8bed054aa6be4e9d8c1dad\"},\"headline\":\"VeChain Announces Partnership to Verify Nike Air Jordans\",\"datePublished\":\"2020-06-26T17:36:14+00:00\",\"dateModified\":\"2020-06-26T17:36:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/266270\"},\"wordCount\":536,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/266270#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insidebitcoins.com\/wp-content\/uploads\/2020\/06\/Nike-Air-Max-1.jpg\",\"keywords\":[\"Jordans\",\"Nike Air Max 1\",\"Vechain\"],\"articleSection\":[\"More Crypto News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/266270#respond\"]}],\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/266270\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/266270\",\"name\":\"VeChain Announces Partnership to Verify Nike Air Jordans - 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