How NYDFS May Outlaw Any Cryptocurrency Exchange
There are rumours circling, based off of a trademark application, that shoe manufacturing giant Nike may well be looking into the cryptocurrency sphere in the future. Nike has recently filed a document with the United States Patent and Trademark Office (USPTO).
It would not be altogether that surprising if Nike was looking at the blockchain and cryptocurrency space as many major corporations, worth more than $1 billion, have slowly made their way into the ecosystem to get an edge in the future.
Although the application from Nike mainly focuses on a trademark application for “CRYPTOKICKS”, the real interesting revelations come in the supplementary information.
A range of crypto-related things
Many companies are starting to look at blockchain to aid in their efficiency. Some are dabbling with stablecoins, but if this Nike application is to be taken seriously, then it would be a big step for Nike to take on a large range of cryptocurrency activities.
“Cryptocurrency software wallets; cryptocurrency hardware wallets; downloadable computer software for use as a cryptocurrency wallet; downloadable computer software for managing cryptocurrency transactions using blockchain technology…” These are all named in the application from Nike.
The intended area of usage also goes on to mention cryptocurrency tokens specifically:
“Downloadable mobile applications for providing access to crypto-collectibles, crypto-art and application tokens; downloadable software for use in electronically trading, storing, sending, receiving, accepting and transmitting digital currency, and managing digital currency payment and exchange transactions…” it adds.
The new tool of corporations
There is no doubting the fact that the blockchain and cryptocurrency enterprise arms race is on. Companies are realising that in order to be future-proof they need to start finding their niche in the cryptocurrency sphere.
Some, like IBM, have decided to build blockchain solutions, but if Nike is entering the water through cryptocurrency tokens, that will be quite a novel way of going about things for a major corporation.
JP Morgan is trying it with their own stablecoin, but a crypto made by Nike would be an interesting thing to place in the market in terms of its useability.