Unusual blockchain function
Fake brand clothes, of course, do not come across at the shows of world’s most famous designers. However, by the time items move from catwalks to stores, they can be replaced with inexpensive counterparts from nameless manufacturers.
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According to research from OECD (Organization for Economic Cooperation and Development), last year the world market received fake clothing and accessories worth more than $450 billion. Large companies received less profit, accordingly. In addition, the image of brands deteriorated.
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«How to distinguish a fake from the original?» was asked 247k times in Google last year.
That means people really want to know how not to pay more for a fake Louis Vuitton.
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BLOCKCHAIN CAN HELP! This technology isn’t only used to protect personal data, but also allows you to track the journey of finished goods - from the factory where it was produced to the store shelves.
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Discussions of this topic began in May 2017 at Copenhagen Fashion Summit. An American blockchain app «Provenance» worked to reveal an entire path of the product.
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First, the app was loaded with data on fabrics. Then all the information about processes on this fabric was included in the blockchain network. As a result, it was possible to trace the full life cycle of the dresses of the London designer Martin Jarlgaard.
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After an entire creation process appeared on the system, clothes were assigned a digital token. It allows tech companies like Provenance to create a digital history of every piece. You can get acquainted with it through a QR code on a tag or using NFC on your phone to scan the info.
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What do you think about it?
