• Thu, 20 Jun 2019, 09:13 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Austrian fiber producer Lenzing to launch blockchain-based traceability platform

Tue, 21 May 2019, 10:15 am UTC

Austrian fiber producer Lenzing has announced its plans to use blockchain technology for end-to-end traceability of its fibers.

In a press release dated May 17, Lenzing said that it has entered into a partnership with TextileGenesis, a Hong Kong-based technology company, to implement blockchain technology. It added that it examined a number of initiatives before deciding to join the platform develop by TextileGenesis.

Lenzing will implement the technology in its TENCEL branded fiber business to ensure full transparency and traceability for brands and consumers of its fibers in the finished garment. The objective is to provide all customers and partners complete supply chain transparency from wood to garment and home textiles, enabling them to identify TENCEL fibers and the respective wood source in each production and distribution step.

Consumers just need to scan a QR code on the final garment to detect the origin of the clothes they intend to buy.

“Together with TextileGenesis, we aim to create an unmatched level of transparency for brands and consumers. With this step Lenzing will further help to green up the textile industry,” Stefan Doboczky, Chief Executive Officer of the Lenzing Group, said.

Over the forthcoming months, Lenzing plans to carry out multiple pilot tests involving partners along the entire value chain. It expects the platform to be fully operational by next year.

Recently, materials science company Avery Dennison and supply chain firm EVRYTHNG launched a blockchain solution for the fashion industry in collaboration with designer Matthew Williams’ fashion label Alyx.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,258.40 (+0.83%)
  • Ethereum (ETH) $267.77 (-0.40%)
  • XRP (XRP) $0.428800 (-1.21%)
  • Litecoin (LTC) $134.76 (-2.05%)
  • Bitcoin Cash (BCH) $409.64 (-1.77%)
  • Bitcoin (BTC) $9,258.40 (+0.83%)
Jun 20, 2019 (Thursday)
08:39
Blockchain firm Algorand's token sale raises $60M within four hours
07:33
Brazil seeks to curb tax fraud, publishes new rules for cryptocurrency exchanges
06:49
Open banking platform Token secures $16.5M strategic investment to transform payment industry
06:40
U.S. Senate schedules July hearing for Facebook's Libra crypto
06:36
Major JSTA-Securitize partnership aimed at boosting Japanese digital securities adoption
06:22
HSBC-Dubai blockchain partnership to shake up the retail industry
05:51
Blockchain dominates Singapore skills market in new LinkedIn report
05:28
New cryptocurrency auditing tool announced by PwC
05:06
Hard Core Fund secures 50 BTC to fund bitcoin developers
04:25
Cloudflare bets big on Ethereum, new gateway announced
03:59
Russia to soon approve cryptocurrency bill
03:45
Ethereum-powered video platform raises $8M in Series A funding led by Northzone
03:36
U.S.-based Monsoon Blockchain inks MOA with two Philippines government agencies DTI, DICT
03:32
India's TRAI may implement blockchain in mobile number portability
Jun 19, 2019 (Wednesday)
12:31
Block.one pays $30M for domain name of upcoming blockchain-based social media platform “Voice”
10:56
R3, ripe.io team up to enhance transparency and trust for food and agricultural supply chain using blockchain
09:42
Crypto Technicals: XMR/USD pares previous sessions' losses, close above $100 mark to propel further gains
09:32
Georgian government and universities team up with IOHK to explore blockchain potential
08:33
Crypto Technicals: ETH/EUR retraces with 'Hammer' formation, breakout at 50H SMA (240) to see further upside
07:32
Euroclear develops blockchain solution for commercial paper with Banco Santander, EY and European Investment Bank
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft