HashCash to Build Blockchain Consortium to Safeguard Authenticity of NY Luxury Brand
The US-based company will design a novel tracking solution for a luxury brand from New York to secure product authenticity through a blockchain consortium network.
International blockchain development company HashCash Consultants will develop a blockchain solution to address the authenticity and replication challenges faced by a NY luxury brand. The blockchain process will bring together the brand along with its offshoot labels and other brands into a private consortium network to benefit each participating member.
The proposed blockchain consortium model will increase transparency furnishing the brand’s connoisseurs with reliable and accurate product information. Consumers can track the necessary details across the private blockchain network.
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HashCash CEO and noted blockchain pioneer Raj Chowdhury states, “Blockchain is a versatile technology owing to its network properties, consensus and decentralization. In addition to finance, the technology is also ideal for domains that prioritize traceability provenance, and authenticity.”
The Consortium facilitates a deeper consumer brand attachment offering exclusive product details including its lifecycle, material sources, environmental impact, warranty, and last but not the least-authenticity. Customers all over the world will be offered access through personal IDs and product IDs. All things considered, blockchain incorporation greatly increases supply chain efficiency easing communication processes.
“Information stored in the blockchain is immutable and tamper-proof, attested by a consensus mechanism. The mechanism is also applicable for luxury brands with state-of-the-art connectivity, guaranteeing the product’s authenticity,” concluded Chowdhury.
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A predominant force in blockchain development, HashCash-designed products are deployed across 5 continents. The US-based firm was awarded the top blockchain development company by an international business services review organization. The company has recently developed a blockchain loyalty platform for a major US retail brand as well as multiple banking solutions, including a biometric authentication protocol.
The collaboration with the NY-based luxury brand will strengthen HashCash’s presence as the go-to blockchain expert in the multibillion-dollar design industry. Committed to delivering excellence in a consistent manner, HashCash believes in the success principle of collaboration instead of competition.
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