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Showing posts from November, 2019

Fashion industry ‘waking up’ to benefits of blockchain technology, robotics

Blockchain and robotics are becoming increasingly popular in the global fashion industry as brands look to increase transparency and improve efficiencies, according to GlobalData. While it is still in its infancy, blockchain technology has the potential to transform the global supply chain, says Michelle Russell, apparel correspondent at GlobalData. She says that during the last few years, the adoption of blockchain technology amongst apparel and textile companies has grown substantially as the pressure to have more visibility in the supply chain ramps up. “Its uses are varied as companies use the ledger to address problems in unethical behaviour, excess waste, the origin of goods, and counterfeiting.” German start-up Retraced recently launched a blockchain-based transparency solution that it is trialling with a number of fashion brands. Other examples include OpenSC which received US$4 million in seed funding for its platform that aims to build transparency around commodities know

Interesting Blockchain Applications In Fintech?

Blockchain is one technology which is said to be bringing in a revolution on par with the birth of the internet. What started as a decentralising currency and assets is now disrupting every mainstream industry. Whether its fintech, healthcare, pharmaceuticals, insurance, digital security, enterprise SaaS — blockchain is everywhere today. Even the traditional BFSI stakeholders such as the large retail banks are deploying blockchain solutions for the robustness this technology brings to age-old systems when integrated in the right manner. As per a  survey on  the financial services sector and fintech conducted by  PWC , around 77% of the financial services industry plan on adopting blockchain by 2020. Banks constituting a third of the institutions surveyed have shown an inclination in incorporating blockchain in their operations as was reported by a study published by Accenture and McLagan (January 2017) So, the first question for the novice here is: What Is Blockchain? As th