by JP Buntinx
The fashion sector is starting to grow an interest in blockchain technology as of late. BABYGHOST, a company launching their Spring and Summer collection, has partnered with VeChain to combine the best of both worlds. In a way, this allows the fashion company to established a connection with their customers in the digital age like never before.
BABYGHOST Sees The Merit of Blockchain Technology
Potential use cases for blockchain technology outside of the financial sector are not overly difficult to find. That being said, the majority of efforts continues to revolve around clearing and settlement, remittances, and financial inclusion. But for businesses active in the retail and fashion industry, the technology holds a lot of promise as well.
By partnering with VeChain, a digital identity solution, BABYGHOST is taking its first steps toward working with blockchain technology. By using this transparent and global technology, both parties created FashTech. The primary objective of this new concept is to ensure customers can verify the fashion pieces they buy are completely genuine and are assured that they have not purchased cheap knock-offs.
Verifying the “identity” of a piece of clothing can be done through a proprietary mobile application. Every piece of clothing of the Indigo Children collection is embedded with a VeChain chip. This chip stores important information, including the entire supply chain history of the item. This information dates back to its inception, as well as the creation process, and how it ended up in the customer’s hands. Additionally, the VeChip integration can be seen as an “interactive history lesson” of the fashion people wear this very day.
BABYGHOST Founder Qioran Huang stated the following:
“What did your dress say to you when it arrived at your home? With an action as simple as what we’ve become so accustomed to doing when we add friends on WeChat, this technology needs only to be swiped in proximity to a garment and, in an instant, our customers can exchange what we thought of as the next generation of playing cards. Imagine that each garment now goes from being one of many to a one of a kind. It can literally speak to our fans similarly to the way that we love communicating with them via social media.”
But this initiative goes well beyond clothing. Handbags, while always fashionable, are also subject to counterfeiting and fake designer labels. Addressing this problem is not easy, yet blockchain technology can lend a helping hand. These handbags will all have their own VeChain ID, which makes them unique and remove the possibility of creating a counterfeit version.
While this initiative will only be rolled out in a limited capacity right now, it goes to show there is a big opportunity for blockchain technology in the fashion industry. In this day and age of fake brand clothing and accessories, verifying the identity of products becomes all the more important. Moreover, using the technology is an extra marketing tool for fashion designers, as they can tell a story of how the item came to be.
This may not appeal to every potential customer in the world, but it is an opportunity that should not be overlooked either. More importantly, thanks to the blockchain, none of this unique identification information is stored in one central database. Finally, the transparency and accountability of the supply chain provided by the blockchain will no doubt appeal to those who do not want to sacrifice their ethics over style.