People’s Tech Signed an MOU with Rubicons

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Today, we will share news about the MOU that was signed between People’s Tech and Rubicons, which owns the ‘Blue Tambourine’ fashion brand. More details can be found in the following article.

People’s Tech And Rubicons

People’s Tech has signed an agreement with Rubicons, which owns the fashion design brand ‘Blue Tambourine,’ to further develop blockchain technology in order to prevent the forgery and falsification of fashion design products.

With this agreement, the two companies plan to develop a solution using non-fungible token (NFT) technology and apply it to Blue Tambourine products. They plan to unveil it for the first time at New York Fashion Week, the world’s largest fashion event, on the 11th of this month.

NFTs issued to fashion design products are used to authenticate genuine products and guarantee ownership. They also provide information on the raw materials used and the manufacturing processes involved.

Rubicons will donate signature fashion products issued as NFTs to New York Fashion Week. This year they will commemorate the 20th anniversary of the 9/11 terrorist attacks. All proceeds from the consignment sale will be donated to the families of those who showed a spirit of sacrifice during the 9/11 terrorist attacks.

People’s Tech has joined hands with Rubicons to provide solutions using blockchain technology to forgery problems faced by fashion designers. The technology to connect NFTs, digital assets, to real products will be used in various industries.

Currently, the amount of counterfeit goods in the global fashion market, only looking at online shops, exceeds KRW 220 trillion a year. This can be seen as an act that threatens the survival of global luxury brands as well as fashion designers around the world. If the NFT solution developed in cooperation with the two companies solves these counterfeit problems technically and socially, fashion design will be able to develop even more.

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