
IBM has partnered with German textile manufacturer Kaya&Kato to develop a blockchain network for sustainable fashion.
IBM is the global market leader in blockchain services, followed closely by Accenture and Infosys, according to the latest research from the premier global market intelligence firm IDC.
As one of the largest blockchain consulting firms in the world, IBM's new partnership could help the whole apparel and textile industry become more sustainable.
Blockchain technology can track the origin of fabrics used in the clothing industry. It allows suppliers and customers to identify where their fabrics are processed.
The system offers many advantages that help manufacturers and fashion brands understand each step of the production and distribution processes.
Germany’s Federal Ministry for Economic Development supports this initiative. And IBM said in a statement that the development of a blockchain network could greatly benefit consumers:
“The network is designed to create transparency about the origin of garments, from the fiber used to the completion of the final product, and to provide consumers with the knowledge that their clothes are sustainably produced.”
Sustainable fashion is a growing market that offers many opportunities, including the development and application of new technologies.
The global ethical fashion market is expected to reach USD 8.25 Billion by 2023 at a compound annual growth rate (CAGR) of 10.33%.
Sustainable fashion is becoming increasingly popular globally, particularly among Europe’s younger demographics.
IBM commissioned a study of European consumers through Morning Consult. The results reveal that 75% of respondents say they are concerned about waste in the fashion industry.
If new technologies could verify sustainability claims, 64% are willing to buy sustainable clothing.
Blockchain technology is helping supply chain logistics through improved traceability. It's one of the biggest value drivers of blockchain integration.
Was this article helpful to you? Please tell us what you liked or didn't like in the comments below.
About the Author: Alex Assoune
More, More, More
How To Dress Well For A Quinceañera
You are probably wondering what a quinceanera is and why it is so common in many nations. Yes you have come to the correct spot since this article will answer... Read More
10 Best Hungarian Clothing Brands You Need To Know
The best fashion labels from Hungary create inexpensive and eco-friendly garments to help you dress sustainably, look stylish, and protect the planet, people, and animals without breaking the bank.Many Hungarian... Read More
The Best And Easiest Outfits To Wear To Epcot Ever
You are planning a trip to Epcot and wondering what to wear, I am here to help! Foremost, make sure to dress in something comfy but still sporty. It... Read More
Victoria's Secret
Victoria's Secret is an American fashion retailer founded in 1977 in California by businessman Roy Raymond. The multinational clothing-retail company specializes in bras, panties, and lingerie for women.Victoria's Secret makes... Read More
10 Ethical Black-owned Alternatives To Fashion Nova
Fashion Nova is an American clothing retailer that creates fast fashion for young women. It offers trendy clothes, sexy dresses, bodysuits, skirts, and more, but it isn't the most ethical... Read More
10 Best Recycled 90s Vintage Surfwear Brands To Know
The best surf clothing brands for women and men offer stylish, comfy, recycled, and vintage surf wear. They sell affordable and sustainable surf apparel from the 90s that helps you... Read More
Mountain Hardwear
Mountain Hardwear is an American fashion retailer founded in 1993 in Richmond, California, by outdoor industry iconoclasts. The multinational clothing-retail company creates outdoor apparel for women and men. Mountain Hardwear... Read More
20+ Best Places To Rent Black Tie Dresses Near You
Renting is a fantastic solution to access thousands of beautiful, luxurious, and stylish black tie dresses without breaking the bank. You don't need to fill your wardrobe with clothes you'll... Read More
0 comments