Blockchain Technology and Fashion Industry-Opportunities and Challenges

Exploring the potential of blockchain technology within the fashion and textile supply chain with a focus on traceability, transparency, and product authenticity: A systematic review

“…Frontiers in Blockchain frontiersin.org 05 3 Understanding Blockchain: Technology of the decade Blockchain is a technology that has provided numerous businesses with a competitive technological edge in the last decade (Tripathi, et al, 2021). BT was invented by Stuart Haber and Scott Stornetta in 1991 (Kushwaha and Joshi, 2021) however, its global debut only occurred in 2008 when it was successfully applied to create "Bitcoin: A Peer-To-Peer Electronic Cash System" by Satoshi Nakamoto (Nakamoto and Bitcoin, 2008).…”

“…In addition to cryptocurrency, industries such as banking, health, and taxation, have been actively implementing BT to reap the advantages of numerous features provided by this technology (Kimani et al, 2020). Naturally, business operations and supply chain management departments, such as the fashion and textile industry (Tripathi et al, 2021), have piqued interest in potential applications of BT to address the complex nature of the supply chain. It has already been incorporated by several renowned luxury brands in segments of their supply chains and user interfaces to provide improved services to their customers (Choi, 2019).…”

“…Fashion as an industry is exposed to many other industries which contribute to its supply chain. Therefore, BT can act as an additional security blanket to protect the authenticity of the products (Tripathi et al, 2021). BT can facilitate quality control and check processes by making them time and cost-efficient (ElMessiry and ElMessiry, 2018).…”

“…It should be noted that research within the context of the application of BT in the fashion and textile industry does exist (Choi, 2019;Tripathi et al, 2021), however, has not been widely adopted by the industry (Caldarelli et al, 2021). BT and the relevant phenomenon within the fashion and textile industry are well-established and researched.…”