PlatformXChain Uses Thor Blockchain For Authenticity Verification

PlatformXChain started using the VeChain Thor Blockchain for faster toys and collectibles authenticity verification as we are reading in the following Vechain VET news.

The leading software provider Arcadier for online marketplaces announced that Vechain ToolChain TM would be used by PlatformXChain for current and new projects in the future. Counterfeit products have become a massive cost for companies, reaching up to $509 billion per year and causing enormous damage to the end consumers as well. VeChain uses VeChain thor blockchain, which is already used as a tool by significant companies that verify the authenticity of products in the value chain. Singapore has a lot of startups that already recognized the potential of this blockchain and will continue working with VeChain in the future.

PlatformXChain is based in Singapore and is a company that already made partnerships with many toy manufacturers such as CenturyFugu, Mandarake Co, Machination Studios and Marmit Co, to track products and collectibles using blockchain technology. The company uses a white label version of the VechainToolChain and uses software that is suitable for the specific needs of toy manufacturers and consumers. The VeChainToolChain platform offers various services and allows the companies to implement the blockchain for processes in companies without technical knowledge.

PCX optimized the platform for the toy industry, and it is now creating its custom UX and IoT tags, which will allow companies to implement and deploy the technology. As per the Vechain VET news, the blockchain closes the current knowledge gap and enables toy manufacturers, collectors, and fans to track their products in real-time. The platform serves as a marketplace for the creators and owners to list original toys and collectible products and to secure them with smart chips to let the consumers verify before buying a product. The authenticated products will be a part of the immutable ledger of the VeChain Thor blockchain.

The world’s leading manufacturer Arcadier also partnered with PXC and became the leading trading platform in Asia for the protection of intellectual property rights and original toys and collectibles.
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Arcadier will combine the PXC e-commerce platform as well. VeChain could gain a lot from the increased usage and awareness and it remains to be seen whether this will a significant impact on the VET price.