Cardano and UW to fight counterfeiting using blockchain

Cardano is partnering with the University of Wyoming to fight counterfeiting in luxury goods using blockchain tech.

Colurful authentic sneakers

According to the OECD "Imports of counterfeit and pirated goods are worth nearly half a trillion dollars a year, or around 2.5% of global imports, with US, Italian and French brands the hardest hit and many of the proceeds going to organized crime, according to a new report by the OECD and the EU’s Intellectual Property Office."

Luxury brands and companies tried to fight illegal activities using serial codes, holograms, RFID tags with moderate success. The luxury goods industry suffers when its authenticity is questioned as brands become weaker in the buyer's heads. Not to talk about financial losses.

The University of Wyoming (UW) is working on a solution against counterfeiting based on the Cardano Blockchain. IOHK (The company behind the research and development of the Cardano ecosystem) provided $ 500,000 in ADA to UW to develop chips that are capable of holding what is essentially proof of ownership of luxury goods.

According to Charles Hoskinson, IOHK CEO, this is a project that goes beyond the scope of 2020. If the project is executed correctly, its possibilities are endless and could lead to a total revolution in the luxury goods industry.

In a YouTube video, Hoskinson explains how the solution works, assessing the current industry supply chain system and its problems from component integration to the final retail step.

UW solution will use a combination of software and hardware to address the issue. An inexpensive chip with the capability to store private keys is hidden in the desired product (in a shoe sole, for example). This chip is hardened against information extraction. The chips will be equipped with RFC, RFID, or a similar standard and will be extremely cheap to make, costing an estimated 1 to 10 cents. And it would be easy to implant the chips in items such as luxury bags, shoes, watches, etc.

WU plans to issue tokens, using the Cardano blockchain that represents the authenticity or ownership of a luxury good. Thus, once the private key has been flashed in that asset, it can never be altered or erased, since the private key itself cannot be moved. And since the private key is locked in the chip forever, so is the authentication token.

Hoskinson expects these chips to get better over time. He said that it will be possible to add extra metadata. It is possible to store the item's history, where it was manufactured, and where it was sold.

  • Twitter
  • LinkedIn
  • Facebook
  • Instagram
  • RSS



The advice provided on this website is general advice only. It has been prepared without taking into account your objectives, financial situation, or needs. All statements made on this website are made in good faith and we believe they are accurate and reliable. This website disclaims all and any guarantees, undertakings, and warranties, expressed or implied, and shall not be liable for any loss or damage whatsoever (including human or computer error, negligent or otherwise, or incidental or consequential loss or damage) arising out of or in connection with any use or reliance on the information or advice on this site. Before acting on this advice you should consider the appropriateness of the advice, having regard to your objectives, financial situation, and needs. Where any product(s) is/are detailed on this website, you should obtain a Product Disclosure Statement relating to the product(s), consider its contents and obtain professional advice before making any decisions. The information on this website is not a substitute for financial advice. Past performance is not indicative of future performance. Cardano™ is a trademark of Cardano Foundation, CHE-184.477.354, Dammstrasse 16, 6300 Zug, Switzerland, in Switzerland and other countries.  Copyright © 2020 by Vantica Trading. All rights reserved.. Madrid  Spain.

We receive, collect, and store any information you enter on our website or provide us in any other way. In addition, we collect the Internet protocol (IP) address used to connect your computer to the Internet; login; e-mail address; password; computer and connection information and purchase history. We may use software tools to measure and collect session information, including page response times, length of visits to certain pages, page interaction information, and methods used to browse away from the page. We also collect personally identifiable information (including name, email, password, communications); payment details (including credit card information), comments, feedback, product reviews, recommendations, and personal profile. Our website is hosted on the platform. provides us with an online platform that allows us to sell our products and services to you. Your data may be stored through’s data storage, databases, and general applications. They store your data on secure servers behind a firewall. All direct payment gateways offered by and used by our company adhere to the standards set by PCI-DSS as managed by the PCI Security Standards Council, which is a joint effort of brands like Visa, MasterCard, American Express and Discover. PCI-DSS requirements help ensure the secure handling of credit card information by our store and its service providers... Please read our complete  Privacy Policy© 2021 by Vantica Trading,

[Valid RSS]