World famous fashion brand Sarah Regensburger announced that it will verify the authenticity of the product with the help of the Vechain Thor blockchain and it will be possible to trace all of the value that is added on the chain but to also trace back exactly whether the product was originally manufactured. Let’s read more in the Vechain index news.
Counterfeiting is a huge problem in industries across the world which makes companies lose more than $323 billion. It is not only the companies that are affected but also the consumers who cannot get the real products and the right use of them. The World Famous fashion brand Sarah Regensburger will now fight counterfeiting with the help of the Vechain Thor blockchain. The technology provided by VeChain was evaluated so Regensburger believes that the company will implement it further in the process.
Sarah Regensburger started a connection with the VeChain Thor blockchain in order to track her products so that each stage of production will be traced along with the blockchain up to the moment of delivery. It is no longer possible to deliver counterfeit products to the consumers since the authenticity of the product has to be proven at an early stage. The partnership will be made official during the Paris Fashion Week according to Mike:
‘’Hey VeFam, as a loyal $VET community member I introduced VeChain to my wife. She is a fashion designer and founded her own sustainable fashion label last year called Sarah Regensburger. She’s showing her first collection in NOB Showroom during Paris FW. She was absolutely amazed about the vision of VeChain and the possibities they offer. She teamed up with @_DiNeocleous and together they created something special.’’
Counterfeiting is not the only major problem in the clothing industry. counterfeit products can also cause huge losses in the food, logistics, automotive industries as well. Real Items also launched a new marketplace based on the Vechain Thor blockchain as which validates the authenticity of the products along the value chain. The VeChain index price follows the current market trend and it fell by 1.74 percent within the past 24 hours. With a market cap of 351 million USD, VeChain was ranked 30th among the biggest cryptocurrencies in the world.
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