Does H&M have a new blockchain partnership?

The blockchain platform VeChain has started a new partnership with the fashion brand H&M in order to provide customers with detailed data for tracing the supply chain.Arket, a subsidiary of the Swedish clothing retailer H&M, is exploring ways to improve the traceability of its products through the use of blockchain technology. Arket is working with VeChain to test this new blockchain solution.VeChain is a blockchain startup that focuses on developing supply chain solutions. It uses distributed ledger technology to provide its customers with a system that is able to determine the authenticity, quality and origin of a product at any point in the supply chain.Rumors of the partnership between Arket and VeChain are circulating on social media websites such as Twitter and Reddit.

 

Videos have been uploaded

Users of these websites started uploading videos of themselves testing the VeChain blockchain implementation at Arket locations in London. However, the partnership was officially confirmed by an Arket spokesman in an email to Hard Fork, who said that the goal of the attempt was to create an efficient and secure blockchain-based system for retail product tracking.“Arket did a small proof of concept (POC) through a pilot trial with VeChain to use blockchain technology to ensure the traceability of product data in the value chain. The test was carried out on a wool hat from the fall 2018 collection. ”