IBM targets sustainable fashion with latest blockchain partnership
IBM has emerged as one of the largest blockchain consulting firms in the world. Its next target: sustainable fashion.
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IBM’s foray into the blockchain ecosystem is deepening with a new partnership to track supply chains in the textile and fashion industries.
The Armonk, New York-based tech giant announced Monday that it’s teaming up with German textile manufacturer Kaya&Kato to develop a blockchain network that tracks the origin of fabrics used in the fashion industry. The new application will allow Kaya&Kato’s suppliers and customers to identify where their fabrics are processed, as well as understand each step of the production and distribution processes. IBM said:
“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.”
Notably, the initiative is supported by Germany’s Federal Ministry for Economic Development.
IBM has identified sustainable clothing as a promising growth venture, particularly among Europe’s younger demographics.
An IBM-commissioned study of European consumers by Morning Consult found that 75% of respondents say they are concerned about waste in the fashion industry. Sixty-four percent indicate a desire to buy garments if new technologies could verify sustainability claims.