The traceability of the textile industry through blockchain provides information from the origin of the raw materials to the production and distribution of the products.
The big luxury firms, characterised by elegance, sophistication and exclusivity, have led the history of fashion for years, paving the way for other companies that have emerged as a result of new styles and generations.
Luxury consumers seek to buy authentic and exclusive products, however, on many occasions companies do not provide all the information about the product’s journey, from its origin to its sale.
The same applies to the sustainability of these companies. People are increasingly demanding a greater commitment from companies to the environment, which affects both their production processes and the materials used to make fashion garments and accessories. However, as with luxury products, information about their origins is not always available.
Blockchain in the textile industry
Textile traceability through blockchain technology seems to foresee a more ethical and transparent future for the textile industry. With blockchain, consumers would be aware of the entire path a product takes from the origin of the raw materials until it reaches their hands.
By making it possible to trace the production of a product, blockchain technology could mean the elimination of imitation products, uncertainty about the working conditions of the workers who make these garments and concern about the impact of this industry on the environment.
Moreover, contrary to what one might think, in the textile sector, sharing information improves and promotes the value proposition. The number of firms dedicated to this sector is increasing, which makes the user’s purchasing decision more complicated; however, offering this transparency can be a motivator for choosing one product or another.
Finally, the benefits of traceability are not limited to the relationship between the company and consumers, but would also foster trust between the members of the chain, increasing transparency between companies and their suppliers and distributors.
Do you have a business? Would you like to validate the potential of blockchain to make it more profitable and efficient?
At iCommunity, we know that the key is not to invest to invest in revolutionary systems, but to study in depth the needs of companies, assess the possibilities and evaluate the return that each innovation will have.
Our solutions provide real benefits, which can boost your company by making it more profitable and competitive.
Tell us about your project and we will advise you without obligation.