Blockchain Explained: How TextileGenesis Wants to Solve Fiber Authentication

Published: Oct. 25, 2019, 5:30 p.m.

b"Blockchain is\\u2014finally!\\u2014evolving from buzzword to mainstream terminology, but that doesn\\u2019t mean it isn\\u2019t saddled with confusion.\\n\\nIn the latest episode of Sourcing Journal Radio, SJ founder and president Edward Hertzman sits down with Amit Guatam of TextileGenesis to learn how the technology can be used to authenticate fibers, which\\u2014for as long as clothing has been sold\\u2014has been nearly impossible to do.\\n\\nTextileGenesis\\u2019s traceability platform was designed specifically for the apparel industry. It intends to provide transparency into the entire supply chain\\u2014from fiber to finished product\\u2014thereby helping companies advance their sustainability goals. In his chat, Guatam breaks down, in the simplest terms as possible, exactly what blockchain is and why the digital ledger technology is so valuable for fiber authenticity.\\n\\nIt\\u2019s so meaningful, in fact, that Guatam believes that it will change the way supply chain partners interact and the level of trust that exists between them. \\u201cI fundamentally believe that the biggest impact of blockchain will be in the supply chain [and] will be in the authentication of the ingredients across the supply chain,\\u201d he said. \\u201cLot of transaction certificates are being used in this industry with a PDF file, and it takes one minute to convert a PDF file into a Word document, change all the data, and [change it] back to PDF. \\u2026 The entire industry trusts these transaction certificates based on PDFs to drive authentication, and that's where blockchain can make a huge leap forward.\\u201d\\n\\nListen to learn:\\n\\n\\nHow blockchain can solve the issue of counterfeit fibers in ways\\nother tools can\\u2019t\\n\\nWhy it\\u2019s safer than existing technology\\n\\nWhat\\u2019s holding it back\\n\\nWhat Fibercoins are and how they\\u2019re used (Hint: They\\u2019re not bitcoins)\\n\\nHow consumers can use blockchain to trace clothing right in the store\\n(and whether this will translate into higher sales)\\n\\n\\nLearn more about your ad choices. Visit megaphone.fm/adchoices"