Stratus Can Authenticate The Ownership of Fashion Goods

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Global Blockchain Technologies Corporation collaborating with Hewlett Packard Enterprise to build a storage market called Stratus.

Global Blockchain Technologies announced a proof-of-concept (“PoC”) for a peer-to-peer (“P2P”) decentralized marketplace for cloud services, geared towards enterprise users on June 4, 2018, in Vancouver, British Columbia.

The PoC will match users that have excess computing resources with users who require additional computing resources, enabling the latter user to purchase what they need from the former user.

This PoC leverages the “sharing economy” model championed by Uber and Airbnb, bringing similar benefits to enterprise computing and its users. It will be built on the Laser network (“Laser”), a blockchain developed by the Company that connects existing blockchain networks to be interoperable, similar to the role that SWIFT plays in banking.

The Company is working with Hewlett Packard Enterprise (“HPE”) to execute the PoC – trialing it with existing HPE users, and enabling seamless integration with tools such as OneSphere and Nimble according to a 2018 globenewswire.com.

Stratus can help authenticate ownership of fashion goods.

And while Stratus’ focus is on storage capacity, Global Blockchain’s chief executive officer Shidan Gouran said blockchain itself is a network that can be used for multiple purposes across many industries, including fashion.

According to a 2018 Women’s Wear Daily report, in the case of the fashion industry, the most common use likely would be in the area of authentication.

“Handbags could be embedded with microchips that can’t be extracted out. For a $10,000 bag, the cost of 100 microchips is [essentially minimal]. The bag would be registered on the blockchain to show the chain of ownership. If it goes back to the manufacturer for cleaning or repair, it can be checked to see if it was stolen. One will know if the bag is owned by someone else. And if a bag is bought on the street with the claim of legitimate ownership, you can check the registration on the blockchain to see if it was ever transferred,” Gouran said.

According to a 2018 Women’s Wear Daily report, Sales of goods on the secondary market can be tracked when using mobile wallets working with the blockchain network, Gouran said. But that’s also essentially the key that allows the tracking process to work. If buyers and sellers transact out of the network via a cash payment, Gouran acknowledged that the ability to maintain the tracking sequence only works when there is a continued update of the item’s registration each time it changes hands.

Currently, the collaboration sees Stratus’ storage capability as the next version of the Internet.

 

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