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IOTA (MIOTA) Launches Blockchain Solution for Luxury Fashion Brand

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IOTA (MIOTA) Launches Blockchain Solution for Luxury Fashion Brand

IOTA (MIOTA) continues to make inroads into different sectors with a combination of partnerships and effective blockchain solutions. The blockchain platform today announced that it was launching a DLT solution to increase sustainability in the fashion industry.

According to the report, IOTA would partner with global manufacturing company Avery Dennison on this project. The initial testing is expected to be trialled by Luxury fashion label ALYX in which customers would be giving extensive information about the production process.

With the DLT solution, Customers would be able to track and monitor the entire process of purchased clothing from its production up to the retail point of sale with a dedicated app.

The app is designed to read the QR codes that would be embedded in the clothing material.  IOTA DLT technology would be used to curate the information about the clothing manufacturing date, raw materials used and other minute details.

This extensive process would enable customers to authenticate the quality of products and prevent the problems of counterfeiting. Debbie Shakespeare the senior director of sustainability and trust revealed that the blockchain solution would put a wealth of information in the hands of consumers increasing trust in the brand.

“Brands and consumers can know that the information they are being shown about the garment’s creation process is 100% accurate and can be trusted implicitly. This is a watershed moment for improving brand transparency and trust,”

The potentials for IOTA in this partnership is huge as the blockchain can gain legitimacy within the fashion industry if the platform works out well. ALYX is one of the popular new luxury brands in the world with celebrity stars like Lady Gaga and Kanye West endorsing the brand.

IOTA (MIOTA) Reaping Gains From Partnership with Jaguar

IOTA is just coming off a big announcement with automobile giants Jaguar which made waves within the crypto ecosystem. the unique partnership gives Jaguar Land Rover drivers the opportunity to earn cryptocurrency (MIOTA) and make transactions as they drive.

The partnership saw a spike of 16% in its market value during the 24-hour window that it was announced.  IOTA (MIOTA) currently trades at $0.42 per unit and 16.56% in the last 24 hours of trading.

The coin ranks 15th in coin ranking with a market cap of $1.1billion as at the time of writing.

Writer, editor and digital space observer with 5 years experience in the blockchain industry.

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