IBM blockchain announced a new partnership with the textile company KAYA&KATO. The new partnership is focused on using blockchain to track sustainable clothing. The German Federal Ministry for Economic Development (BMZ) supports this new collaborative blockchain project. IBM and the new partner want to use blockchain to record and keep track of all the material and production steps in making clothes.
Blockchain Helping Fashion Industry
Tracking the source of materials is essential in achieving sustainable goals in the fashion industry. When everyone, from sellers to consumers, knows where the material came from and how it’s processed, they will have ease of mind about the environmental effects of what they sell or wear.
According to the press release about the new partnership:
“This new application of blockchain technology to document and trace the supply chain for textiles will allow suppliers of organic cotton and customers of KAYA&KATO alike to identify the origin and where the fabrics were processed as well as gain an understanding into each production and distribution step. The aim is to create transparency and to help develop secured protocol for the traceability of ecological materials. All the permissioned parties involved will be able to access the transaction data recorded in blocks in an unchangeable record on the chain.”
Sustainability and the effect of production on the environment are becoming a growing concern for consumers worldwide. They are looking for products that have a minimum impact on the earth and are made through a transparent process. Blockchain can help the producers and consumers achieve this transparency, and IBM is one of the leading companies working on this issue.
Many traditional industries are using blockchain to increase transparency and reliability in their products. Christian Schultze-Wolters, Director of Blockchain at IBM, says:
“Blockchain technology today is being used to help increase visibility and agility in supply chains in industries, including automotive manufacturing, mining, electronics production, and even the cultivation and distribution of many types of food. By creating shared visibility, the technology helps foster trust among companies and their suppliers, businesses, and especially their consumers. We want to set an example within the industry and offer other companies the opportunity to join us in advancing development and helping to create solutions for supply chain.”
The new partnership between IBM Blockchain and KAYA&KOTO shows blockchain technology’s vast potential in helping various industries. It can be a good start point for other industries entering the movement of sustainability.
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