Stylish blockchain and its impact on fashion
Cryptoauxiliary thought about talking about light and beautiful things that are simultaneously important to many people around the world.
The world of fashion has been a place of beauty, experimentation, and high prices. Obviously, people of all ages, backgrounds, and income levels want to be part of this world at some point, even for just a moment. And there are some benefits from this pursuit of excellence.
By the time new designs hit the shelves, stores often don't already have replicas. According to experts, the market for counterfeit clothing and accessories cost more than $ 450 billion last year. This process is why companies lose profits and brands lose their reputation.
The question of how to find a fake is one of Google's most popular and there are plenty of resources to provide solutions.
How can the blockchain help?
Fashionable Crypto Solution
Blockchain can protect your personal data while tracking your product journey from creation to store and beyond.
Discussions on this topic began at the Copenhagen Fashion Summit in May 2017. There, the history of blockchain-based applications was in the limelight. Its purpose is to show the entire history of fashion products.
First, information about the substance was uploaded to the app. Next, data about all processes associated with sewn garments were added to the blockchain network. This makes it possible to track the entire life cycle of Martine Jarlgaard's dresses.
After the creation process was fully uploaded, the garments were attached to the digital token and you can now view the digital history of each garment. Customers can access this information via the QR code on the label.
This technology is also used by the Chinese company BitSE, which developed a similar Ethereum-based application, VeChain. Dutch startup Seal has developed an app that follows foreign colleagues and provides information about product authenticity via smartphones. Finding a fake is much easier if the company can equip many items as planned.
Personal information protection ... with Style!
Many companies dream of better understanding their customers. One of the decisive factors for the fashion industry is where, when, and how to dress. If they can do that, they can respond more quickly and in detail to the needs of the audience, and thus gain even more benefits.
New York-based American company Loomia collects data on clothing via electronic circuits sewn on tags. For example, the device provides information about wear, location, and temperature stored in the blockchain.
Owners of such "surprise" clothing can sell this information to manufacturers and distributors and receive tokens as payment. Tokens can then be redeemed for discounts, priority purchase terms, and other bonuses.
Future Direction
Today, large companies are pushing the boundaries and creating something new for consumers. For example,
Nike exists today not only as a clothing manufacturer but also as a technology solutions company. Their new products often come with a calorie rhythm sensor or a sensor that tracks the number of calories burned. And the reason for implementing these technological developments is intensifying competition in the fast-paced modern world.
The blockchain helps businesses get information, protect their reputation, and enable quick and accurate market research, especially regarding the fate of their products after purchase. Such information is something that people who are trying to improve what they have will pay from the bottom of their hearts. Thank you for reading this article! If you enjoy it, share it and let us know what you think about the relevance of micro-influencers and crypto-related projects. You may also like our other stories: