Is Blockchain the Key to Fashion 4.0? Retraced, Oracle and CANO Set Off on a Journey to Find Out
The lack of transparency in the fashion industry has been a growing issue for consumers. After the tragic 2013 Rana Plaza disaster in Bangladesh, questions continue to be asked by concerned consumers about how their fashion items are made – which materials are used and what conditions are workers subjected to. As a result, fashion brands are under pressure to communicate more reliable and trustworthy information about their supply chains – yet few solutions exist to enable them to do. However, according to Oracle Germany’s recent announcement – and thanks to blockchain technology – hope might be on the horizon
Welcome to retraced – the supply chain transparency solution for the fashion industry. Back with the support and technical power of the Oracle Blockchain Platform, retraced seeks to offer an innovative way for consumers to find relevant and reliable information about how their clothes are made. The co-founders, Lukas Pünder, Philipp Mayer and Peter Merkert, plan to shake up the industry and show that real-time transparency can make a difference, and they plan to start with their own company, CANO.
CANO Clothing, a German startup founded by Lukas and Philipp in 2016, sells high quality, ethically handmade, leather shoes made in Mexico. The company champions the ideals of eco-friendly ingredients and fair wages and strives to showcase this to its customers in the most trustworthy way possible. With retraced the company plans to show that a transparency platform is not only possible but only essential for a sustainability-minded industry
“We want to offer a transparency solution not only for our CANO customers, but for all fashion companies who are also interested in highlighting sustainability in their value chains” – co-founders Philipp and Lukas
Oracle, CANO and retraced are on track to deliver a working solution. As the Oracle blog announcement suggests, the retraced platform points towards a new, disruptive business use-case for blockchain; and a key tool to help unlock the numerous possibilities of Fashion 4.0
See the full Oracle Blog post here (in German):
Oracle and retraced will conduct a live presentation of their solution at the Blockchain Summit in Frankfurt on March 26, 2019