Bitcoin Technology Could Deter Counterfeit Sneakers

Legit checks just got easier for some sneaker owners, and they have Bitcoin technology to thank.

Image via Co.Design

Niche sneaker companies are employing Bitcoin technology to help buyers determine the authenticity and source of their kicks.

In a bid to deter counterfeits, Brooklyn-based sneaker brand Greats is using Bitcoin tech to create 3D-printed smart tags on its Beast Mode sneakers.

Each smart tag has a unique identifying code stamped onto it, along with an encrypted NFC chip that can be scanned by a smartphone.

The chip is baked straight into the smart tag during the 3D-printing process to prevent tampering. But that’s half only the magic.

The other half comes by way of Bitcoin, a digital currency that cannot be counterfeited. Each Bitcoin comes with a blockchain — an encrypted database that authenticates the Bitcoin and shows every transaction made with it.

Greats brought in two companies — Chronicled, a sneaker and fashion software authentication company, and Origin, a 3D-printing manufacturer — to create blockchains on each smart tag.

Scan the smart tag with a mobile app and it will show if the sneaker is the real deal, as well as every previous transaction the sneaker has undergone, if any.

Any transfer of ownership can be done via an app by Chronicled, and smart tags themselves are small in size and inexpensive to make.

Though this technology has yet to be adopted for mainstream sneaker brands, it’s a viable way of stopping fake sneakers, especially grails, from passing through the market.

Source: Co.Design