IBM Partners with KAYA&KATO to Develop New Blockchain System to Track Sustainability in Fashion
In a press release, IBM or International Business Machines Corp, a consulting company headquartered in New York, announced its new partnership with KAYA&KATO, a German textile company. Their partnership will target sustainable clothes in the fashion industry.
Together they aim to develop a system based on blockchain to bring trust and transparency to the origin of each product.
IBM says “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.”
The German Federal Ministry for Economic Development is helping the two companies develop this new platform. The platform will trace the supply chain for textiles to allow consumers to trace the origin of materials, for instance, organic cotton which will ensure that they are sustainable.
Christian Schultze-Wolters, IBM’s director of blockchain, says the deal highlights different ways to decentralize technology that can boost new and existing industries.
Adding, “Blockchain technology is a catalyst for collaboration and transparency across industries and within supply chains. Blockchain technology today is being used to help increase visibility and agility in supply chains in industries including automotive manufacturing, mining, electronics production, and even the cultivation and distribution of many types of food.”
“By creating shared visibility, technology helps foster trust among companies and their suppliers, businesses, and especially their consumers. We want to set an example within the industry and offer other companies the opportunity to join us in advancing development and helping to create solutions for the supply chain.”
Since 2016, the company says that it has teamed up with hundreds of clients to provide blockchain services in different sectors such as retail, government, financial services, and healthcare.