IBM targets sustainable fashion with latest blockchain partnership

Published on by Cointele | Published on

IBM has emerged as one of the largest blockchain consulting firms in the world.

IBM's foray into the blockchain ecosystem is deepening with a new partnership to track supply chains in the textile and fashion industries.

The Armonk-based tech giant announced Monday that it's teaming up with German textile manufacturer KAYA&KATO to develop a blockchain network that tracks the origin of fabrics used in the fashion industry.

Notably, the initiative is supported by Germany's Federal Ministry for Economic Development, or BMZ. IBM has identified sustainable clothing as a promising growth venture, particularly among Europe's younger demographics.

Supply chain logistics have long been touted as one of the best use cases for blockchain technology.

Improved traceability, especially in the provision of food and medicine, is one of the biggest value drivers of blockchain integration.

It is estimated that 20% of global grocers will use blockchain technology for food safety and traceability by 2025.

Although VeChain is arguably the most recognizable blockchain project tackling supply-chain management, other protocols like WaltonChain, Wabi, and Ambrosus are also looking to disrupt this space.

As far as IBM goes, the multinational tech company has emerged as one of the biggest blockchain enterprises in the world.

Research from IDC lists IBM as the global market leader in blockchain services, followed closely by Accenture and Infosys.