Alyx, a luxury fashion brand built on the concept of a subversive culture, has announced the launch of a blockchain pilot powered by IOTA (MIOTA). The project is aimed at increasing supply chain transparency and boosting consumer confidence in its products, reports Vogue Business on June 24, 2019.
Alyx Joins the DLT Bandwagon
Per sources close to the matter, 1017 ALYX 9SM, the clothing line designed by Matthew Williams, a Chicago born fashion designer that has worked with top celebrities including Kanye West, Lady Gaga and Alexander McQueen, has caught the blockchain fever.
Specifically, Alyx has joined forces with Avery Dennison, a global manufacturer of customer-engaging apparel branding labels, and Evrythng to launch a distributed ledger technology (DLT) pilot aimed at fostering transparency in its supply chain.
Powered by the IOTA distributed ledger, the pilot will enable Alyx to add up to nine different products on the blockchain, with the entire Alyx product information to be stored on the blockchain as time goes on, “for the sake of transparency.”
Interestingly, the firm has made it clear that though it would have loved to add all its products on a blockchain ledger at this pilot phase, the time and effort required to input the necessary data into the ledger makes it almost impossible at the moment.
Nonetheless, Alyx says integrating blockchain technology has been a fairly easy process for the brand since it produces a large chunk of its products in Italy where its transparency-centric suppliers are located.
The success of its blockchain pilot depends in no small extent on the ability of these suppliers to enter data accurately in the distributed ledger.