[vc_row][vc_column][vc_column_text]<\/p>\n
There has been a lot of talk lately about Blockchain, but what is it and how does it work?<\/p>\n
Blockchain literally means “blockchain<\/strong>.” It is a computer network of nodes that uniquely and securely manages a public ledger consisting of a variety of data and information, such as transactions, in an open and distributed manner, without the need for central control, and being the basis of cryptocurrencies such as Bitcoins<\/strong>, it consists of an immutable digital database shared within the nodes of the network that records and tracks all transactions that have taken place.<\/p>\n The unique features of this technology, namely transparency, immutability and decentralization, allow its use outside the cryptocurrency financial sector as well. In fact, it presents itself as a potential solution to problems that exist in other industries such as fashion, where environmental impact, supply chain fragmentation and counterfeiting are the main challenges faced by industry players.<\/p>\n The application of blockchain along the entire supply chain is able to facilitate transparency and traceability of products, thereby eliminating middlemen and third parties. In addition, it is able to optimize the flow of data in real time, collecting them into a single database that is visible and accessible to the entire network or all authorized parties.<\/p>\n Through the traceability and transparency of the data reported within the blockchain, the end consumer is able to read the QR code associated with the garment, and is able to know who packed the product, where the yarn came from, what chemicals it was treated with, and how much CO2 was emitted to make it.<\/p>\n As mentioned earlier, the data within a blockchain is immutable. Due to this peculiarity, its application in the field of fashion can be a very important help in protecting intellectual property rights and fighting counterfeit products. By creating a unique digital identity for each product, its path can be traced from raw material sourcing to design\/sales, to the later stages of resale and recycling.<\/p>\n Would you like to test it on a product? All you have to do is buy our Ctrl+c Shoes, and resting your smartphone on the label will bring up the shoe’s story.<\/p>\n [\/vc_column_text] [vc_row][vc_column][vc_column_text] Toward a more transparent future There has been a lot of talk lately about Blockchain, but what is it<\/p>\n","protected":false},"author":2,"featured_media":11822,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[400],"tags":[],"post_folder":[],"yoast_head":"\n\nThe use of blockchain in the fashion industry<\/h2>\n