Cryptocurrency in Focus: VeChain Makes Sure Covid-19 Masks Are Legit

It almost sounds like the plot of a movie: A crypto company founded by a former Louis Vuitton China executive is getting a boost after devising technology to spot counterfeit KN95 masks amid the coronavirus crisis.

Did you catch all that?

Let’s try to sort it out: The company is VeChain (VET) and its founder is Sunny Lu, an ex-CIO of Louis Vuitton China. VET’s fundamentals are now on the rise, as its technology is used to make sure new KN95 masks coming from China are legit.

Working directly with production factories in both China and Seattle, a San Francisco start-up called Real Items is making sure each box of KN95 masks are shipped with a two-factor authentication QR code that is recorded on VeChain’s blockchain. Retailers can then scan the code with a smartphone to verify the product before they’re used to protect health care workers and others.

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