Titled “Is Blockchain Technology Set to Revolutionize the Fashion Industry?“, FashNerd.com was one of the first voices to explore the important role that the distributed ledger could play in the fashion industry. The article looked at how blockchain can serve as the new generation of infrastructure whilst changing the fashion world. The write up also explored how blockchain can help with product verification, counterfeiting and help companies build a transparent supply chain solution.
As blockchain continues to be viewed as this mystical solution, London College of Fashion’s Innovation Agency have collaborated with Martine Jarlgaard, Provenance and A Transparent Company for an exciting new blockchain project launched at the world’s most important event on sustainability in fashion, the Copenhagen Fashion Summit 2017. The fashion technology they are working with enables each supplier to provide consumers access to information about the materials, processes and people behind the products.
We have managed to get hold of their behind the scenes film. So take a moment and look at how Blockchain technology has the ability to allow us to register, track and reveal supply chain data securely.
For those who are yet to become intimate with this term, the first thing you should know is that blockchain is the primary technology behind the tech buzzword of 2013, bitcoin. Defined by Blockchaintechnologies.com as a type of distributed ledger, comprised of unchangeable, digitally recorded data in packages called blocks, they explain blockchain further by stating that, “These digitally recorded ‘blocks’ of data are stored in a linear chain. Each block in the chain contains data (e.g. bitcoin transaction), is cryptographically hashed. The blocks of hashed data draw upon the previous-block (which came before it) in the chain, ensuring all data in the overall “blockchain” has not been tampered with and remains unchanged”.