Bitcoin Daily: H & M Pilots Blockchain Tech


Arket, a brand of H & M, is piloting an integration of blockchain products with the help of VeChain, TheNextWeb reported. While the brand did not communicate to the outlet where it was using the implementation, it claimed that it was using the solution to securely monitor product data. A spokesman said TNW"Arket performed a small concept test (POC) through a pilot test with VeChain to use blockchain technology to ensure traceability of product data in the value chain." The spokesman added that the blockchain product was piloted with a wool cap. According to the brand, the pilot is still "in progress" and has not yet been evaluated.

And scammers in Australia are swapping iTunes vouchers for bitcoins as their payment, TheNextWeb reported. That is, payments with ATMs (bitcoin automated teller machines) have become more common than those of iTunes in scam payments reports at the Australian Taxation Office. As the fiscal expiration date of November 21 approaches, the office said: "ATO wants Australians to be on the alert for tax scams, especially the growing trend of scammers requiring payment. through Bitcoin ATM. " The ATO has seen nearly 30,000 reports of attempted scams since July. According to TNW, tax fraudsters in Australia are looking for payments for fake public debts through the victims.

In other news, the cryptic KuCoin exchange has grossed $ 20 million in funding, according to reports. The financing, which is reported through the capital, will be made available to create technology and an investment arm, in addition to growing internationally. According to reports, Matrix Partners, IDG Capital and Neo provided funding. At present, puts KuCoin as the 49th largest exchange. Previously, he collected 5,500 bitcoins in an initial coin offering (ICO) (or approximately $ 27.5 million at the time.) KuCoin CEO, Michael Gan, stated in an interview, according to reports, that the investment "will open new doors".



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