Hi, Guys, this is Karun and in this blogpost, I am going to talk about building fashion supply chain trust through blockchain technology
Do you know –
where your clothes come from?
who made them?
what impact your clothes made on the environment?
The important thing is to know the product journey from fibre to garment. Clothing has a long journey before they reach end consumers and they pass through many places like farms, factories, warehouses and retailers to eventually customers. The ability to verify the history, location and application of a product from source to distribution. Details must be recorded along the product journey like
1. Where does it come from
2. How was it prepared or made
3. How did it get here
4. Who or what did it meet along the way
This information is vital to maintain quality assurance, sustainability and to action a product recall
How do you know that this t-shirt has been made sustainably, a simple hangtag added on it saying sustainable cannot solve the purpose
For you to be certain, you would need a record of all processes and events of the life cycle of an item and that would be possible with Blockchain
Blockchain is revolutionising the supply chain. It is like an online sharable spreadsheet. Any changes made by stakeholders on their block of the online spreadsheet will be visible for others. The collection and connection of all blocks make blockchain
Each event on the blockchain is recorded in form of computer code that identifies stakeholder, events details and exact time with encrypted signatures. In this system of full transparency and connectedness that lends the blockchain its trust and credibility. The chain provides an auditable trail of all events that happened to make a product. Any changes made will be visible to all stakeholders to decide the changes made to be valid or invalid
Again transparency and agreement combine to make the blockchain system virtually tamperproof. Now with blockchain, you can track all events while claiming organic cotton t-shirts
The more tools required apart from the blockchain for footprint analysis, data sharing, risk analysis and reporting are
1. IoT (Internet of things)
2. AI (Artificial Intelligence ) and
3. Machine learning
all tools are required to know
Transparency and Traceability of the Supply Chain
Product details and accelerates sustainable fashion model