Supima is using blockchain technology to track the journey of the fabric from the seeds planted in the field, through the harvest, yarn making, and fabric creation, all the way to the products you wear and finally to the store.
From Supima: The SUPIMA® licensing program has been the cornerstone of the Supima organization for over 40 years and has been essential in highlighting and identifying all the superior products that our brand partners have been making using American-grown Pima cotton. To that end, Supima is excited to announce it will be transitioning its licensing program to a digital and forensically verified platform.
Beginning January 2023, Supima will be implementing a robust licensing platform that will further enhance the credibility and value of the SUPIMA® brand. This revolutionary platform will be a standard-setting industry benchmark for combining digital traceability and transparency with physical authentication, providing an unrivaled level of confidence in both the content and provenance of Supima products.
What is blockchain?
Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network.
An asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding). Virtually anything of value can be tracked and traded on a blockchain network, reducing risk and cutting costs for all involved.
Why is blockchain important?
Business runs on information. The faster information is received and the more accurate it is, the better. Blockchain is ideal for delivering that information because it provides immediate, shared, and observable information that is stored on an immutable ledger that only permissioned network members can access. A blockchain network can track orders, payments, accounts, production and much more. And because members share a single view of the truth, you can see all details of a transaction end to end, giving you greater confidence, and new efficiencies and opportunities.