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Lenzing Launches BlockChain Technology in Hong Kong

Technology

Lenzing is making huge strides in the technological arena and most recently, they introduced BlockChain technology, which will take transparency and traceability in the textile industry to a completely new level.

Once they became part of Textile Genesis tin 2019, they presented their first renewable raw material pilot at the 2019 fashion summit that was held in Hong Kong on the 5th of September. This revolutionary project was undertaken in collaboration with WWF, Textile Genesis and Chicks, a Hong Kong-based brand.

A recent survey on Consumers attitudes in the EU with regards to supply and sustainability chain transparency showed that close to 80 percent of the consumers would like to see brands disclose their brand supply chains.

With BlockChain, consumers and brands will be able to identify branded fibers in each distribution and production chain. This will include everything from fibre to retail of a home textile or finished garment.

This technology will also allow customers to assess and verify a garment’s composition as well as the underlying supply chain at points of sale by scanning barcode using a mobile phone.

For the first time in the textile industry, consumers and stakeholders will be able to experience fiber coins in the supply chain, thanks to Lenzing. These tokens will be used in the authentication process to prevent adulteration and secure chain of custody throughout the entire value chain.

Lenzing recognized the importance of data integrity, so they performed transactions via uploaded information on this platform. To guarantee real-world complexities, about 49 unique garments stock recording units from Chicks were trailed via the platform from the fiber stage all the way to garment retail.

The company is conducting additional tests in the months to come and will involve partners on the value chain. They expect this platform will be ready and working by 2020.

Source Link: https://fashionunited.uk/news/fairs/lenzing-presents-new-blockchain-technology-in-hong-kong/2019090545119

About the author

Catherine Wambui

Catherine Wambui

Catherine Nyaga is a freelance writer covering Real Estate and Technology. Her other interests include Nature, pets and accounting. She recently graduate from Nairobi University with a degree in Accounting.

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