Transparency in the Fashion Industry

Frequently "blockchain" has only been heard in the financial sector, in particular in cryptocurrency (E.g. Bitcoin, Etherum). However, blockchain can also be used more than just making financial transactions in seconds and tracking virtual payments. It can also track records, store information and provide data security because it can't be tampered with.

This technology can be implemented in the fashion industry to create a more transparent supply chain and to provide accurate information to it's consumers. With the implementation of this technology in the near future, it will create many discussions between producers and suppliers. Some of the advantages that can be beneficial are:

1. Meeting the market's demands of transparency and information

2. Tracing and creating the value chain by the stories of where the product came from

3. Fighting the blackmarket by verifying the authenticity of the product/brand since it can be tracked

4. Ease the royalty payments when licensing the brand

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