Published on September 14th, 2015 | by bitcoin0
Seahawks’ Lynch Among Investors in Blockchain Startup
A San Francisco-based technology company Chronicled Inc. has raised US$1.4 million in a funding round participated by Pantera Capital, Mandra Capital, Seattle Seahawks RB Marshawn Lynch and several angel investors to build a consumer authentication platform to eliminate counterfeit goods using smart labels.
The labels will be tracked and encoded on a distributed public ledger called the blockchain to create a transparent record of authenticity, ownership and provenance for both buyers and sellers.
Through the partnership with Identiv and the newly raised funds, the startup will continue the development of encrypted microchips inside the smart labels.
The platform will be availed for collectors, retails and brands, to sell, purchase and trade authentic sneaker collectibles on the blockchain.
Our technology lets consumers know if their products are authentic at the tap of a mobile phone.