How Louis Vuitton, Gucci, and Prada Can Use Blockchain Technology.
Blockchain seems to be the best solution to get rid of fakes. The use of distributed registry technology in the fashion industry can save genuine brands and designers from the intrusive attention of fake manufacturers. Many projects are now considering the use of technology in the fashion industry to provide transparency, security and authenticity to both designers and end users. One such project harnessing the potential of blockchain technology is Curate.
Curate was created with the intention of providing users with easy access to exclusive and unique fashion products by small and large retailers and designers. This is a decentralized style finder app that rewards users for contributing to the platform with cryptocurrencies such as ETH, BTC and its own CUR8 token.
Brands and retailers such as LV, Zara, Gucci, Prada and Amazon have become partners with Curate to take advantage of the blockchain technology used by the platform. The technology helps brands protect customers from fraud and the risk of buying a fake thanks to the integrated system of remote radio frequency identification (RFID).
Users can verify the authenticity and originality of purchased products by scanning RFID tags attached to the material. You can use the mobile phone’s camera to scan tags and get the history of the material. This unique option not only helps customers buy genuine brands, but also protects the reputation of brands from damage caused by fakes.
The history of the material also helps consumers who are reluctant to buy environmentally friendly clothing. The platform also helps designers, both small and large, gain recognition and fame based on user ratings and votes.
Blockchain has become a savior for both small designers and large brands. He is able to solve the problems of the fashion industry and protect consumers from fakes. Projects integrating blockchain into the fashion industry will be very useful in countries such as India, where counterfeit products account for most of the market.
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