Web engineers have been working for a long time to determine if there is a way to prove something is true without revealing any data that substantiates the claim. Zero-knowledge proof (ZKP) technology has enabled the deployment of cryptographic algorithms for verifying the veracity of claims regarding the possession of data without unraveling it. These proof mechanisms have led to advanced mechanisms that enhance privacy and security. Leveraging blockchain deals with problems related to centralization, while the lack of privacy in decentralized applications (DApps) can be balanced with cryptographic ZKP algorithms. This article provides a primer on zero-knowledge proofs, portable …

As brands focus on building new use cases during the bear market, a team has come up with combining nonfungible tokens (NFTs) and near-field communication (NFC) chips to enhance the experience of their users. In an interview with Cointelegraph's Alyssa Exposito, RTFKT co-founder Steven Vasilev shared insights from their experience in creating RTFKT and gave thoughts on how they are creating an ecosystem of authenticity through NFTs and NFC technology. According to Vasilev, when their team was creating the RTFKT project, they realized that NFTs and blockchain technology had the potential to enhance the experience of collectors. He explained that: …

Vincenzo Sospiri Racing (VSR), a GT racing team backed by Lamborghini's motorsport department, has announced its partnership with nonfungible token (NFT) platform Go2NFT to launch a program that certifies racing car parts. In an announcement sent to Cointelegraph, former racing champion Vincenzo Sospiri from the VSR mentioned that their team will build NFT certification for their race cars with Go2NFT and blockchain platform Skey Network. This will allow them to monitor and ensure the quality of the car parts. He explained that: “This also brings great responsibility to ensure that we can securely authenticate and audit every part of our …

A Swiss foundation is using blockchain technology to authenticate artwork, luxury goods, digital media and collectibles — protecting the interests of consumers while returning control to creators. In an ask-me-anything session on Cointelegraph's YouTube channel, ORIGYN CEO Daniel Haudenschild described how his organization's technology is helping to clamp down on counterfeits, and increase confidence in upmarket items. Ultra high-resolution pictures of an item are taken and rich metadata is then packed into a nonfungible token. "Microstructure traceability" is used so computers can recognize distinctive objects later on — making distinctions the human eye cannot. "Not just 'it's a watch' or …

ORIGYN, a Swiss foundation that uses artificial intelligence (AI) to identify and authenticate objects of value, has partnered with luxury watch marketplace WatchBox. The pair will co-produce certificates of authenticity in the form of NFTs to enable customers to trade the digital ownership of a watch. ORIGYN is the largest project on the Internet Computer Protocol, or ICP, developed by The DFINITY Foundation blockchain. Individuals who purchase a collector quality timepiece via WatchBox can expect ORIGYN to certify the authenticated object thanks to its biometric technology. Each watch is given a unique biometric fingerprint and an NFT that contains all …

RTFKT Studios, pronounced artifact, has announced a collaborative partnership with software developer Daz 3D to leverage their technology to create immersive, three-dimensional avatars for their upcoming nonfungible token, or NFT, release, CloneX. Founded by Chris Le, Benoit Pagotto and Steven Vasilev, RTKFT have emerged at the forefront of next-generation sneaker culture, intertwining burgeoning technologies of augmented reality, nonfungible tokens and blockchain authentication, amongst others, to form their NFT sneaker brand. RTKFT's latest venture, a pfp avatar project, will utilize Daz 3D’s PFP Utility Kit to expand the possibilities for the avatars across a multitude of settings including gaming, videos, social …

A decade ago, Nike took a proverbial leap into the future of sneakers with their launch of Nike Mag — a fictional concept shoe inspired by the movie Back to the Future Part II. The 1,500 limited edition was so revered for its idiosyncratic self-lacing design that it wrote itself into sneaker folklore as one of the greatest productions of all time. From the moment legendary 80’s hip-hop trio Run-DMC unified the crowd in raising aloft their Adidas shoes to the sound of “My Adidas,” to the debut of basketball’s most iconic apparel — the “notorious” Air Jordan — sneakers …

Transitioning from static digital collectibles to tokens with real utility will lead to a new generation of NFTs according to Tytan Inc the COO of NFTY labs, a platform focused on building products for the NFT space. In a recent interview with Cointelegraph, he said that even if the market is saturated, there is still room for startups to raise funds in the NFT ecosphere. “Most VCs are kind of catching on to the fact that a lot of the real value is in how you can use an NFT and not so much about what it looks like.”, he …

On Friday, the online retail store Bitcoin Movement (BTCMVMNT), launched a limited edition streetwear line featuring a blockchain-backed system of “Proof of authenticity.” The 300-item collection, which was designed with input from British entrepreneur and rapper Zuby, consists of 50 hoodies, 125 Hats, and 125 T-Shirts, all bearing the logo ‘21 Million,’ representing the maximum amount of Bitcoins that will ever be mined. Each piece in the collection, which is titled “Take the Power Back,” contains an near-field communication chip linked to the VeChain blockchain. Through a mobile application provided by the Bitcoin Movement, customers can scan a sticker attached …

Major financial institutions in Japan are moving into blockchain to streamline digital identity systems. Japan’s third-largest bank, Mizuho Bank, and local payment giant JCB are preparing to pilot a digital identity interoperability system based on blockchain technology. The new system will utilize a blockchain solution developed by Fujitsu Laboratories, Fujitsu announced on Thursday. The new joint initiative will allow the companies to verify mechanisms to securely transfer and link member ID information by multiple business operators. This data includes names, addresses and employers stored on a cloud platform built by Fujitsu. The pilot will also involve 100 Fujitsu Group employees. …

Matterum’s platform for authenticating collectible items is now live, and it’s already processed several $10,000 William Shatner figurines. According to its website, Mattereum “has the tools to make physical goods flow around the world as easily as information using Ethereum blockchain smart contracts.” The company’s first client is Third Millenia Inc. (which works on the authentication of real-world items), co-founded by actor William Shatner of Star Trek fame. Amongst the first digitized objects were several signed Captain Kirk action figures. They’re worth a lot of money! A Mattereum Asset Passport for a Captain Kirk Action Figure. As you might imagine, …

Italian luxury sports car brand Lamborghini is using Salesforce Blockchain to authenticate heritage Lamborghini cars. Salesforce, a major global customer relationship management firm, announced on Nov. 19 that Lamborghini can now trace, certify and authenticate heritage cars faster and more securely using its blockchain platform. Launched in May 2019, Salesforce’s Hyperledger-based blockchain platform will now be implemented to create a trusted network between multiple participants for certification checks during a Lamborghini’s resale. Each Lamborghini vehicle will now come with an immutable record of service Typically, when a Lamborgini is resold, the vehicle goes through 800 or 1,000 certification inspections that …