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Nike patents blockchain platform for tracking 'CryptoKicks' sneakers

Wednesday 18 December 2019 10:45 CET | News

Media Release - Latest figures show card fraud down but shoppers urged not to be complacent over Xmas The US Patent Office has issued sportswear brand Nike a patent for its blockchain-compatible sneakers named ‘CrpytoKicks’.Media Release - Latest figures show card fraud down but shoppers urged not to be complacent over Xmas

Blockchain can be used to attach cryptographically secured digital assets to a physical product, in this case a sports shoe, according to the patent. Furthermore, Nike‘s platform will also track the ownership and verify the authenticity of sneakers using the blockchain-based system.

When a consumer buys a pair of the “CryptoKicks,” he or she will also receive a digital asset attached to a unique identifier of that shoe. If the sneakers are sold to someone else, ownership can be transferred by trading both real shoe and/or associated digital assets. These digital assets can be stored within a ‘Digital Locker’, a cryptocurrency wallet type app.


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Keywords: innovation, Nike, blockchain, digital assets, commerce, US
Categories: Payments & Commerce | Ecommerce
Countries: World
This article is part of category

Payments & Commerce