China Luxury Online Retailer Secoo is Embracing Blockchain-inspired Technology
Secoo Holding Ltd. saw its share jump 50 percent early this morning after rumors surfaced it would launch a blockchain-inspired authentication service on its e-commerce platform.
"We have been exploring and following blockchain-related techonology for a long time," the spokeperson of Secco said. "We can not release any details regarding our new authentication service yet but we are very excited about the new development."
How companies can use blockchain-based authentication systems to track and manage digital identities has been a widely discussed topic. Companies are looking to mark their products with unique identifiers stored and distributed via electronic authentication tokens to verify items across the entire supply chain, helping to identify counterfeit goods on the platform in a secure and efficient manner.