Specifically, the New York-headquartered heavyweight reportedly disclosed its initiative to collaborate with textile manufacturer Kaya&Kato from Germany, to jointly work on a blockchain network, dedicated to tracking the origin of fabrics used in the fashion sector.
The new solution will reportedly let Kaya&Kato’s suppliers and clients run identification to the process location of the fabric, along with acknowledging the details of every stage of the production and distribution process.
“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.”
The project will reportedly receive support from Germany’s Federal Ministry for Economic Development.
IBM has reportedly decided sustainable clothing is a market with a high potential development, specifically focusing on Europe’s younger target audience.
Supply chain logistics have reportedly been generally perceived as an ideal environment for testing real-world application of blockchain. Improved traceability, particularly for the field of food and medicine, is one of the biggest value drivers of blockchain integration.