Arvind joins blockchain-based traceability platform
Fabric maker and jeans manufacturer Arvind Limited has partnered Textile Genesis to use its blockchain-enabled digital transparency platform.
Arvind will offer traceability of upstream inputs, such as cotton, to its customers.
The technology uses ‘fibercoins’, which are a digitisation of the physical fibre at the point of origin. For instance, when Lenzing ships 100kg of Tencel to a spinner, that’s 100 coins. It controls the amount of certified material entering into the supply chain network.
Aamir Akhtar, CEO of lifestyle fabrics in denim at Arvind, said: “It is our endeavour to bring the latest in design and innovation to our key partners and customers backed with a promise of sustainability. This is another step in that direction.
"We are elated to embrace this new technology, which will prove impactful in coming times.”
Diagram credit: Arvind
