IOTA Partners With Luxury Fashion Brand To Make Use Of Distributed Ledger Technology For Its Supply Chain
In recent news, the German blockchain foundation, IOTA is initiating a Distributed Ledger Technology to enable a more supportive and ethically sourced fashion industry along with Avery Dennison, a global manufacturing company. The platform will be experimented with luxury label ALYX, to allow its customers full understanding about the supply chain.
Customers can be able to track the lifecycle of the purchased item from the creation of the product to the point of sale, with the help of an app which reads items QR codes. IOTA’s Distributed Ledger Technology will record the garment’s source, raw materials, and production date allowing the users to verify the product and also to check its validity credentials.
By scanning the label with their smartphone, customers can view their garments journey and can track it back from its origin and to the point of sale in the rack. Customers can also confirm the validity credentials along with the authenticity of the product. Brands can have full visibility of their manufactured product journey across the supply chain, by giving full access to data and statistics, through IOTA distributed ledger, along with different sales channels and preferences of consumers real-time.
Through these efforts, it is possible to deliver an exclusive and straightforward detail to its consumers, the only thing they need to do is to scan the QR code to get visibility into the intricacies of the global supply chain networks.
Debbie Shakespeare, senior director of sustainability and compliance at Avery Dennison, said,
Brands and consumers 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,
In a recent Tweet by IOTA,
High-End Fashion Brand @alyxstudio Collaborates with IOTA, @EVRYTHNG and @AveryDennison to add digital IDs to clothing tracking authenticity and provenancehttps://t.co/UTrswzsmvL#IOTA #supplychain
— IOTA (@iota) May 15, 2019
In a recent blog by EVRYTHNG, Matthew Williams, creative director of Alyx, says
“Blockchain and distributed ledger technology is the future for effective brand protection,” said Williams. “By supplying product information, supply chain traceability and transparent dialogue with the consumer, the brand’s authenticity is globally secured. Collaborating with Avery Dennison to explore the potential of this software has informed our approach to communication.”
How does this project work?
This solution to this project consists of several features provided by each of its partners. Primarily, the garments are digitally activated at first and given a serialized QR code along with digital identity in the EVRYTHNG cloud. Supply chain data are collected by different supply chain members instigated by Avery Dennison, and the same is stored in EVRYTHNG cloud.
Data is written and verified on IOTA’s tangle to ensure that it is not changed. Users can scan the QR code on the product at the point of sale or after the purchase to check the trusted origin and authenticity. Moreover, for ALYX, analytics and reporting dashboard gives an end to end product and engagement data. Except for these, read more about MIOTA Price Prediction to make your profitable long-term investments.
