NEW YORK – Blockchain provider IBM has partnered with textile manufacturer Kaya&Kato to develop an immutable platform that can log the transaction of ‘sustainable’ materials throughout what can be complex supply chains.
With support from the German Federal Ministry for Economic Development, this use of blockchain will afford those in the supply chain greater insight into operations and will instil transparency from the supplier to the customer – ensuring nothing is the subject of counterfeit.
“By creating shared visibility, the 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 supply chain,” said Christian Schultze-Wolters, director of blockchain at IBM.
