Category Archive: chronicled

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HolyTransaction Bitcoin Roundup March 2016

Welcome to HolyTransaction’s third monthly recap for the new year of 2016. This past month of March has been marked by continued interest in blockchain from everywhere; during that time, the bitcoin price rose from a high of $435.23 on March 1st to a low of $414.66 on March 31st, according to Bitcoin exchange Bitstamp.

It’s time to Blockchain-ize things like sneakers with Chronicled

A new blockchain startup, Chronicled, is planning to blockchain-ize the growing multi billion dollar industry that is sneakers. The company has raised $3.4 million on Crunchbase for its mission. The phenomenon of thousand dollar shoes for the male market has somewhat been predicted by similar economic pressures in shoes for females. Chronicled will use the blockchain to bring accountability and cleaner profits to this and other similarly affected industries.

Even Disney wants a piece of the blockchain action

The most recent surprise blockchain job opening is from Disney. While the corporate giant has many diversified products, this is a prime example of blockchain technology’s ability to help any company save in the middle and back office. Disney also probably has an interest in forever securing their rights via multiple blockchains.

VISA is planning its own blockchain for internal use. They are hiring an engineer/developer to help them and are also working with VISA believes that this area will have a critical impact on the future of the industry and wants to get ahead of the curve. Other companies from around the world that are creating blockchain labs and teams include Hitachi, Phillips, and even Walt Disney.

Ethereum’s newest version, Homestead, has officially launched. The price of ether was very volatile around the release of this software as new users rushed in. Homestead replaces Frontier, and allows users to begin using the smart contract technology. Already, companies are being built around the Ethereum blockchain.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio
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Chronicled will Blockchain-ize the sneakers market

One of the most interesting blockchain applications is the proof-of-ownership, and in this sector there is an always increasing number of new startups. 

One of the latest to stand out in this scenario is called Chronicled that works in the sneakers market for collectors of this kind of product. 
To do so, recently Chronicled raised $3.4 m in two rounds from seven investors on the Crunchbase platform. 
According to some estimates, the collectible shoes market has a value of $1.2 billion in the US, even if the most part of users is composed by teenager males. 
Ryan Orr CEO at Chronicled said to CoinDesk:

“The challenge with an authenticity platform lies in getting to scale. Clearly customers could scan collectible items, men’s fashion, women’s fashion, with their smartphone, and know they would be getting a legit item. But how do you build a niche? We reviewed about 30 different market verticals when we launched the company.”

How it works

Chronlicled provides a custom chip, which has a private key that provides a blockchain-based record.
“With the encrypted chips we put into the luxury items, we have an unhackable link between the blockchain and the physical item. Whereas as if you just have a digital record of an item without a unique ID, without encrypting a link between the item and the record, you really haven’t solved the problem,” explained Orr.
Chronicled’s goal is to sell the chips and also analytics about products and customers, that both producers and distributors sellers can use for their objectives. 
Chronicled can also be helpful during sneaker conventions, where the company will be able to have some authenticators that can identify counterfeited shoes and help customers to transfer their authentic sneakers through the Chronicled app.

What kind of Blockchain?

Ryan Orr commented that Chronicled has not yet chosen the blockchain platform it will use to support the service.
Orr said that Chronicled has done tests on the bitcoin and Ethereum blockchains, but they are still exploring other distributed ledgers.

Open your free digital wallet here to store your cryptocurrencies in a safe place.

Amelia Tomasicchio