VeChain (VET), the leading enterprise blockchain platform, has announced the launch of a new service on the VeChain Carbon Footprint Traceability Platform, which is aimed at revolutionizing the way sustainability is tracked in the Fashion industry.
The new software-as-a-service solution powered by blockchain was announced via the official Twitter handle of VeChain Foundation on 24th September 2021.
VeChain Foundation tweeted, “We are proud to launch a new service on the VeChain Carbon Footprint Traceability Platform. This blockchain powered software-as-a-service solution is aimed to revolutionise the way sustainability is tracked in the Fashion industry.”
We are proud to launch a new service on the #VeChain Carbon Footprint Traceability Platform.
This #blockchain powered software-as-a-service solution is aimed to revolutionise the way sustainability is tracked in the Fashion industry. $VET $VTHOhttps://t.co/Y2mBrZF7sr pic.twitter.com/iCUnzzcBAz
— VeChain Foundation (@vechainofficial) September 24, 2021
VeChain Foundation explained further in a blog post that blockchain allows a permanent and accessible record of carbon footprints in every stage of the supply chain, which is a vital means to achieve true sustainability and meet government policies.
Other benefits are expatiated by VeChain Foundation as follows:
Trustless claims: Blockchain technology is the correct choice for textile providers to improve supply chain traceability while offering more transparency into their manufacturing streams. Data stored on blockchain platforms enables manufacturers to prove how their sustainable fibers are obtained from plants or animals, aiming to reduce harm either through the production process, fiber properties, or overall environmental impact. This collection of information can be easily integrated to the overall carbon claim of the garment, which will become an advantage for textile providers to leverage, attracting industry players involved in sustainable fashion.
Trustless certification: Characterized by data immutability, the blockchain technology provides the most convincing ethics and sustainability certifications for both brands to consider during provider revision and for customers to consider when shopping. With visible certification stored on this disruptive tracer, textile providers can be vetted in the most trustless manner.
VeChain Targets Fast-Growing Chinese Market
In the blog post, it’s added that the new offering is the first of its kind to benefit from the combination of decentralized ledger technology and a SaaS business model. It’s also aimed to be the best hands-on tool in the fast-growing Chinese market.
It can be recalled that earlier in August 2021, VeChain launched the first Digital Carbon Footprint SaaS Service based on the VeChainThor public blockchain.