AntChain, a blockchain network of Chinese fintech conglomerate Ant Group, has partner with Nike to implement a product traceability system that combines blockchain technology with NFC (Near Field Communication) chips embedded in Nike shoes.

With the integration of blockchain and NFC technology, Nike is able to provide customers with increased assurance about the authenticity and origin of their shoes.

The partnership aims to enhance transparency and traceability throughout the supply chain by securely recording and verifying important product information.

Nike has implemented product traceability by combining dynamic encrypted NFC chips with blockchain technology. By simply tapping the NFC chip on the product with a smartphone, users can view authenticated information such as the style, shipping warehouse, and timestamp of the product through the blockchain. This enhances the consumer experience while also ensuring consumer rights. Currently, this traceability technology has been applied to nearly 130,000 pairs of Nike's 17 popular shoe models.

Nike is the first brand in the sports industry to comprehensively integrate NFC and blockchain technology into product traceability. This collaboration between AntChain and Nike marks their first partnership, and they plan to further expand the application and services in various scenarios.

In 2020, Ant Group introduced AntChain as its flagship brand encompassing a range of cutting-edge technology solutions, including blockchain, artificial intelligence (AI), and other advanced technologies. AntChain serves as a prominent platform through which Ant Group showcases its expertise and developments in blockchain technology, as well as its ongoing efforts in the field of AI and other related domains.

In April, AntChain announced the establishment of AntChain OpenLab, a dedicated research center focused on developing a secure, transparent, and dependable infrastructure for Web3.

The beginning of the internet, or Web 1.0, allowed people to read and connect to information. Web 2.0 was the iteration of social media that facilitated a new wave of people connecting with others. Web 3.0 is widely considered as a decentralized internet powered by blockchain technology with cryptocurrencies, non-fungible tokens (NFTs) being the underlying infrastructure and applications.