Luxury Fashion Brand Alyx Will Employ Iota’s DLT For Supply Chain Tracking

by | May 16, 2019 | Blockchain, Cryptocurrency, Cryptocurrency News

Alyx | Iota | Luxury Fashion | DLT | Blockchain | Tracking | Supply Chain

Luxury fashion brand Alyx is planning to employ Iota’s distributed ledger technology (DLT) for supply chain tracking, as reported by the cryptocurrency news outlet The Block on May 15.

As per the reports, the implementation will be in partnership with global manufacturing company Avery Dennison, and the Iota network will enable Alyx’s customers to have full insight into their supply chain. Upon scanning the QR code with an app, the user could purportedly track the course traveled by the item from its creation to the point of sale.

The publication further claims that the data concerning the apparel’s production location, date and raw materials will be stored on Iota’s DLT and the users could consult it. Debbie Shakespeare, senior director of sustainability and compliance at Avery Dennison, reportedly commented:

“Brands and consumers can know that the information they are being shown about the garment’s creation process is 100% accurate and can be trusted implicitly.”

The fashion news outlet GQ also reported the development. Alyx’s creative director Matthew Williams elaborated to the publishing that the brand puts a strong emphasis on sustainability by using recycled materials, for instance, a leather dying process which consumes CO2. He further stated:

“We’re taking it a step further: we’re going to be the first brand to introduce blockchain technology this month in Copenhagen.”

In March, Luxury scotch whiskey brand Ailsa Bay has reportedly incorporated Blockchain and will soon release, what it believes to be the world’s first scotch whiskey tracked with a blockchain-based system.  Russia’s Ministry of Education and Science also dipped its toes into the ecosystem, when it introduced a blockchain-enabled platform for tracking diamonds in February.

Read more: Blockstream Launches A New Liquid Securities Platform

Image source – Alyx Twitter

Like us on Facebook

Get latest Bitcoin & Cryoptocurrency News


Subscribe to our newsletters to get latest Bitcoin and Cryptocurrency news.

Thank you !

Pin It on Pinterest

Share This