With blockchain’s continuous influence in creative industries, entrepreneurs and designers are beginning to take advantage, using blockchain to deed innovative and sustainable designs, creating quality products while making information about the product accessible to consumers. Satoshi Studio, based in Paris, is one of the first to use blockchain, combining tech and fashion.
Satoshi One, made with full-grain, high-quality leather from Italy, manufactured in Portugal, is the first brand building sneaker on the blockchain from the outset. The product is certified on blockchain—information about the product—where the leather came from, where the shoes were manufactured, and the identity of the owner is available to all customers.
— Satoshi Studio (@satoshi_studio) July 7, 2019
The name “Satoshi” comes from the pseudonym of the ever-elusive founder of Bitcoin, Satoshi Nakamoto. While Satoshi himself has never been identified, this narrative only adds to the overall story of Bitcoin and the cryptocurrency sphere, allowing brands like Satoshi Studio to mine inspiration for new products.
“As technology merges more and more with our lives, tech and fashion is doing the same. Fashion is about being aesthetically pleasing and technology is about being more functional. People will always try to do things better and find better, more practical ways to use things. Having a tech input in our clothing and stronger digital relationships between brands and consumers is a natural evolution. As for blockchain, it will certainly play an increasingly important role in the fashion industry. It will potentially have the greatest impact on the resale market, owing to its ability to make more secure transactions between consumers without the need for the brand to be involved.
The large brands are already aware of the opportunity that blockchain offers. A good example is LVMH and its platform, AURA, which aims to bring together various luxury brands through a private Ethereum blockchain. However, we’ve got a long way to go before we have complete protection against counterfeiting.” – Nicolas Romera and Cedric Cervantes, CEO, Satoshi Studio, an interview with Highsnobiety.
How is each pair certified on the blockchain?
A blockchain is like a ledger or database, completely public, where you can store and exchange data without the possibility of reversing, changing or corrupting it.
At the production level, we create a digital duplicate in this public database with all the information about the product (date of production, materials, model, etc.) as soon as it is manufactured. After each pre-sale campaign, we launch the production. We then store a unique ID on an NFC tag in a label holder which comes with the shoes. We also include a printed version of this unique ID in the box, for customers who do not own a smartphone with an NFC reader.
Not Adidas, Converse or Nike, but a small company from France called @Satoshi_Studio is the first to put their shoes on blockchain to protect against counterfeiting. https://t.co/QhJTN2xKgk$ETH #ethereum #sneakers pic.twitter.com/MUKHvPSmHB
— Robert Hoogendoorn (@Nederob) August 5, 2019
Each Satoshi One sold, Satoshi Studio will plant a tree. And after customers are ‘done’ wearing the shoe, they can send it back to the studio and earn crypto currency to purchase a new pair.
Clean SS_01 💥 pic.twitter.com/gmPkc2tdW2
— Satoshi Studio (@satoshi_studio) July 10, 2019
Satoshi Studio is a brand with a focus on community—values collaboration. Customers, through participating in surveys, helping us building new products, marketing, and interacting on social media will receive “loyalty coins”, in the first year. The coins can be used in Satoshi Studio’s next project. The ethos is to ecosystems and align objectives with stakeholders as shared ownership and collaboration is the future of business.