A small company based in Franklin, North Carolina, has made a notable move in the field of enterprise blockchain. Made in USA Inc., known for nearly three decades of certifying products as American-made, is developing a new verification platform that aims to thwart counterfeit goods before they ever reach consumers.
#What does the recent acquisition entail?
On June 26, Made in USA Inc. successfully acquired intellectual property and technology assets from its related entity, Made in USA One LLC. This acquisition was executed entirely through stock, involving 5 million restricted shares, and was officially reported via SEC Form 8-K.
The technology framework integrates both public and private instances of the XRP Ledger, Hyperledger frameworks, AI-driven verification technology, IoT-enabled ERP systems, and secure hardware security protocols from Trusted Platform Module.
The public instance of the XRPL maintains permanent, tamper-resistant authenticity records that are accessible for verification. Concurrently, the private XRPL safeguards sensitive corporate data, preventing competitors from accessing it. Additionally, the platform features a modular “DataWallet” stack, which facilitates a portable digital identity for manufacturers and retailers, giving them the tools needed to manage their products’ authenticity.
#Why is counterfeiting a significant issue?
Counterfeiting represents a staggering global challenge, with the OECD estimating that the counterfeit trade amounts to approximately $467 billion each year, which constitutes around 2.3% of all worldwide imports. For over 28 years, Made in USA Inc. has been dedicated to the certification business. By digitizing its certification processes through blockchain-based records, the company believes it can significantly increase the difficulty of perpetrating fraud.
#How does this impact XRP and enterprise blockchain?
The significance of this particular deployment lies in its dual-ledger architecture. By utilizing both public and private instances of the XRPL, Made in USA Inc. aims to provide verifiable proof to the public while keeping proprietary information secure.
This move signifies one of the first enterprise-grade applications of XRP Ledger beyond the domains of payment processing and tokenization. Although the XRP Ledger has been gaining momentum with its EVM sidechain launch and increased interest in XRP-based ETFs, its utility narrative has mainly focused on cross-border transactions. The introduction of a supply chain certification utility expands its application scope.
While the all-stock acquisition valued at $25 million might seem modest in the cryptocurrency realm, the SEC Form 8-K filing provides an added layer of institutional credibility that is often missing in larger cryptocurrency deals.