How Can Blockchain Disrupt Supply Chains in the Fashion Industry?

Publié le by Cointele | Publié le

When receiving new shirts you'd bought online, or bought some jeans from one of the fashion stores on your street, the question that may have come to mind then was, how did these items get to be in my hands? The answer is supply chains.

Supply chains in the fashion industry organize people, activities and information to move fashion products from the producer to the consumer.

Blockchain technology prevents product fraud in supply chainsBlockchain brings complete transparency to the fashion industry.

Blockchain technology prevents accounting fraudBlockchain technology solves the problem of accounting fraud in supply chains by creating blocks of records that cannot be altered.

If Supplier A were to supply through a traditional supply chain, accounting problems may be encountered on both the supplier and the consumer end because information throughout the supply chain can be altered and the middleman could change the amount being supplied, which poses an issue for verification.

Blockchain supply chains are faster than traditional supply chainsAny fashion supplier knows the importance of delivering new waves of stock faster and more efficiently.

The speed of a blockchain network can ensure that verifying the authenticity of supplied fashion goods is completed within microseconds of arrival, and with the removal of middlemen from the supply chain, goods can be supplied at a faster rate, improving the efficiency and quality of goods supplied.

New Balance now uses the Cardano blockchain to authenticate its shoes, and users can verify information about a pair of sneakers with the data recorded the blockchain; while Provenance, a blockchain supply chain company, operates on open-source software, which encourages developers across the world to contribute to their project.

Blockchain technology will increase the technological advancement of supply chains in the fashion industry.

The future we look forward to in the supply chains of the fashion industry is here.

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