Modeling Blockchain System For Fashion Industry

Abstract

The digitalization process affected the process of conducting supply chain management in the fashion industry. Innovative information technologies enabled improved communication between supply chain stakeholders, a more efficient and transparent way of conducting business transactions and protecting intellectual property rights. Blockchain technology has the potential to improve security and trust within fashion industry supply chains, reduce the placing of counterfeit products on the market, and provide customers insight into product authenticity. This paper focuses on the possibilities of using blockchain technologies in the supply chain of the fashion industry. The main goal of the paper is to propose a model of a blockchain system for the fashion industry. The proposed system should provide insight into the supply chain flow in the fashion industry based on using blockchain technology. Furthermore, the proposed model enables tracking all business transactions among stakeholders in the fashion industry in a transparent and immutable way, and for the customers enables insight into the product origin, authenticity and all relevant product data.