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Authenticity and ownership of luxury goods to be tracked by blockchain-powered tool

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New blockchain-powered technologies that protect property and combat the growing threat of counterfeiting are being rapidly adopted by companies keen to protect themselves and their customers.

UK based DNAofficially unveiled its technology solution this week to create a unique digital passport that proves the authenticity and ownership of jewelry, collectibles, works of art, rare and luxury items.

This technology makes virtually any physical product instantly verifiable, storing all historical transfers of ownership and other information about the product in a unique DNA Digital Passport/Bearer Share (Native Asset) . Kadena blockchain platform.

DNA is built to be widely adopted by users of all skill sets as a plug-and-play solution that makes it easy for brands to transition to Web 3.0 without the need for cumbersome and complex blockchain infrastructure. . From the first sale to every resale, DNA assures both buyers and sellers a source-backed trust.

For brands, this creates new and more meaningful connections with consumers/owners that are maintained throughout the product lifecycle.

Sotheby’s has great value this week paraiba tourmaline ring From an Austrian jeweler Shrin Validated with DNA native assets. This is the first time an auctioneer has sold jewelry guaranteed in this way.

The handcrafted platinum ring features a 49.88 ct natural oval Paraiba tourmaline and 60 baguette cut diamonds and is valued between £140,000 and £180,000.

The jewelery industry is one of the first to recognize the potential of DNA to protect gems, watches, stones and other creations as they are sold, resold and passed down through generations.

Lukas Schullin, Manager of Schullin Wien, said: We have considered many digital verification solutions in the past, but none work as effectively and seamlessly. For us, simplicity and ease of use stand out. The fact that anyone can use it makes it the perfect solution for all customers, especially those who may not be tech savvy. It gives you the power and security of blockchain without the headaches of using cryptocurrencies and digital wallets. “

DNA co-founder Douglas Jakobi added: Our mission is to power safer, more reliable online marketplaces, bringing the power and security of blockchain into the mainstream with an easy-to-use platform that connects the physical and digital worlds. Enabling brands to tokenize their physical products to combat counterfeiting, strengthen and reward loyalty and ownership. In short, it strengthens the relationship between brands and their customers by helping build consumer trust. “

DNA co-founder and CTO Abraham Milano said: Products on the web offer a degree of anonymity, and fraud and counterfeiting are rife. Our mission is to fix it so that brands, creatives and their customers are protected. There are many exciting things we can build on this technology that will improve how brands interact with their customers and build a more responsible circular economy. “

Other sectors are also adopting this technology.America’s leading artist and skateboarding legend Steve Olson’s recent gallery show in New York DNA’s first pilot project, “Beautiful Explosion,” came with its own unique DNA certificate.

This technology is a highly sustainable solution for brands interested in improving their ESG. Built on Kadena’s eco-friendly Proof-of-work-layer-1 blockchain.

This technology has the added benefit of indirectly patenting its design by leveraging the inherent nature of blockchain, allowing each transaction to be traced back to a specific point in time. This directly helps jewelers and artists to protect their original designs and pieces and create a repository for their pieces.

DNA also enables brands to directly access the consumer/owner community throughout the life of the product, set up a safe and trusted resale market, and build loyalty into secondary market transactions.

Joel Woodman, Ecosystem Business Development at Kadena, said: Kadena believes in the potential of blockchain to revolutionize the way the world interacts and transacts, and companies like DNA are making this vision a reality. “

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