Blockchain technology has begun to create new uses in almost all business sectors, from finance to education, health care to security. And now this technology is in the textile and fashion industry to bring transformation and transparency, helping to fix fraudulent supply chain networks and problems with brand positioning. With the assistance of distributed ledger technology (DLT) fashion brands easily communicate their product portfolio to customers, partners and at the same time reduce various environmental risks associated with it.
Blockchain helps customers around the world access attractive product range, instant delivery and easy returns. Due to the increased computerization facilitating several stages necessary in production such as, sewing, pattern making and knitting, the production increases. As it is crucial to offer a superior customer experience in the fashion industry, this technology is growing rapidly with the emergence of customers’ digital thinking. However, in order to do this, significant investment is still needed for the textile industry. The product journey receives much less investment than the consumer journey. IFA Paris students have discovered the technological progress and continuous evolution through a breathtaking presentation by the experts of the “Makers Atolye”.