IOTA has teamed up with luxury fashion label ALYX on a DLT-based supply chain solution.
The German blockchain foundation has developed a distributed ledger technology solution which will facilitate more sustainable and ethical fashion, in conjunction with international company Avery Dennison. The platform will allow customers to have a full insight into the supply chain process to ensure that the products remain ethical and traceable.
Customers will have the ability to trace the journey of each item they purchase, from the purchase of the raw ingredients used to create it, right up to the point of sale. Via a specially designed application, QR codes for each item can be scanned and the data downloaded by each user.
The IOTA DLT will store information on the origin of the garment, materials used to create it, production date, and where it has been. This means that users are able to authenticate the product and ensure it is as sustainable as the manufacturers claim.
Debbie Shakespeare, the senior director of sustainabilty and compliance at Avery Dennison said that “brands and customers can know that the information they are being shown about the garment’s creation process is 100% accurate and can be trusted implicitly.”
“This is a watershed moment for improving brand transparency and trust” she added.
“By adding a blockchain layer to the supply chain process, customers of the brand would be able to access “uncompromisable data”.
Avery Dennison is a global manufacturer of branding and marketing materials. A Fortune 500 company, it is located in Glendale California. ALYX is designed by Matthew Williams and is built on the concept of mixing high quality materials with innovation and “a desire to push new ideas forward”.
Also in the world of fashion, the world’s first item of blockchain clothing has been sold for $9,500. The item was auctioned at the Ethereal Summit in New York, last weekend.
“Digital pioneers” The Fabricant have created digital clothing by using 2D garment cutting software, 3D design software, and powerful film rendering tools that results in hyper-real, living and breathing clothing.
The result- the world’s first piece of digital couture exists as a blockchain asset and once a photo of the future wearer is provided to The Fabricant, only then will it become a reality.
This means that the item exists not only as a blockchain digital asset, but as clothing and a cryptocurrency as well.
The Fabricant recently reported that the market in crypto collectibles exceeded $200 billion this year and that “global brands in the real world apparel market are vying to enter the digital-only fashion space to forge deeper engagement with Gen Z consumers.”