Retail Giant H&M is testing VeChain Thor Blockchain

h&m vechain

Fashion and clothing company H&M has officially confirmed tests with the VeChain Thor Blockchain. The in-house clothing brand Arket experimented with the Blockchain company to track products.

First rumors about the pilot project appeared on Reddit and Twitter already in October this year. Now, a spokesperson for Arket told The Next Web that a test is in progress and has not yet been evaluated.

“In a pilot trial with VeChain, Arket conducted a small proof of concept (POC) to ensure the traceability of product data in the value chain through blockchain technology. The test was carried out on a woolen hat from the fall collection 2018.”

Conscious buyers can simply open their VeChain app, scan the NFC chip of a product, and retrieve information such as material used, artist ID, color, supplier, source, and manufacturer name before purchasing.

Vechain has repeatedly attracted attention in recent months with well-known partnerships. DNV GL had 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 collaboration in logistics research to drive joint solutions for further optimizing internal processes at the DHL Asia Pacific Innovation Center. Back in June 2018, the VeChain Foundation announced that it would work with DB Schenker, one of the world’s leading logistics service providers.

VeChain is a project that already has a variety of practical applications and has a working product. The Vechain (VET) is a Blockchain cryptocurrency that works as Blochchain-as-a-Service. VeChain’s primary goal is to decentralize and change the way companies monitor global supply and management chains. VeChain aims to do this by providing a faster, more transparent and trusted platform.

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