IBM’s contribution to a more transparent future: blockchain for supply chains, trade, logistics…

IBM’s contribution to a more transparent future: blockchain for supply chains, trade, logistics and digital identity.

In the latest episode of #FinancialFox, technology and PR entrepreneur Stefania Barbaglio talked to Pietro Lanza, Blockchain Director at IBM and General Manager for IBM’s Intesa. IBM, already an established name in the IT space, was one of the first companies to push forward with new technologies’ adoption, working with Artificial Intelligence — in the development of their world-famous IBM Watson system.

Today, IBM takes the lead once more in its advancement of cutting-edge technologies such as 5G, quantum computing and blockchain. It has recently set up significant partnerships and strategic collaborations with organisations like the Bank of America and Samsung.

Italy forging ahead with technology.

Intesa is a special division within the IBM group, working with digital innovation in Italy, where IBM is a leading technology solutions provider for enterprises and public bodies. IBM’s applications benefit a variety of sectors by offering innovative solutions to improve performance and streamline transactions.

The focus is on blockchain: IBM has around 50 initiatives in Italy along with over 1,000 projects globally, all deploying blockchain-based projects which are disrupting various sectors such as financial services, trade, supply chains such as fashion and food industry, digital identity and logistics.

“At IBM we are focused on enterprise use of blockchain. The most relevant industries for our projects at the moments are financial service, food traceability and ‘made in Italy’ food, furniture and fashion. On the other side we are also working with logistics and supply chain applications of blockchain. We are still at an initial phase, but more and more we are moving towards maturity of these platforms, technology and business paradigm.”

The giant is working with the Italian government to focus on implementing blockchain into the food and fashion sectors, supporting the world-famous ‘Made in Italy’ quality. IBM has indeed established a global platform for this cause — IBM Food trust — and has teamed up with leading global food suppliers including Walmart, Carrefour France, and Nestle. Other projects and conversations with big companies are on going. Through the platform,an ecosystem of producers, suppliers, manufacturers, and retailers is formed, to create a smarter, safer and more sustainable food system for all. Organic produce and homegrown origin-certified products are hallmarks of Italian culture: cheeses, olive oil , sauces, dairy products, pasta and pizza.

Recently, CHO, a Tunisian olive oil producer, announced it will use IBM blockchain to create a provenance record that traces Terra Delyssa from the retailer back to the tree. This follows the salmon farming company Cermaq and smoked salmon producer Labeyrie’s use of IBM’s cloud blockchain technology to trace their product supply chains.

Another prominent area of development is digital identity. IBM is working on creating the next level of digital identity by introducing IBM Blockchain-based sovereign identities, through which people can gain even tighter control over their identities and data, as well simplifying numerous transactions that require identification. Digital identity is a core business for IBM as it is the certification authority, and manage the Digital ID for over 50 million Italian & other European citizens. As part of a global, public permissioned blockchain ledger, IBM Verify Credentials makes it possible for known, trusted issuing organisations to issue credentials to individuals.

For financial services and trading, IBM has been working on the use of blockchain and digitalisation to streamline traditional paper-based trade finance practices.

Looking into the newest technologies, IBM has already taken steps into the 5G and quantum computing spaces. At the end of October, Samsung Electronics and IBM announced a new joint platform leveraging IBM Cloud and AI capabilities and Samsung’s mobile offering, and this year has already seen discussions about 5G arising.

As a pioneering tech company, IBM started working on quantum computing several decades ago and the technology is now in a relatively stable phase ready for testing and utilisation. @IBM Research has developed a publicly available Q problem which deploys quantum power through @IBM Cloud and can be tested by anyone. IBM also recently signed a multi-million agreement with Germany for joint development of this technology.

IBM has been ranked #1 for patents deposited for the 27th year in a row, such an achievement has been possible due to large investments and fundings to the company’s R&D, which is being made available to its teams throughout the19 research centres globally.

Watch the interview:

Be sure to follow us on social media @cassiopeia_ltd to keep up with more news and updates in this exciting sector. And don’t forget to subscribe to our channel to get notifications about further upcoming interviews on FinancialFox.

IBM’s contribution to a more transparent future: blockchain for supply chains, trade, logistics…

IBM’s contribution to a more transparent future: blockchain for supply chains, trade, logistics and digital identity.

In the latest episode of #FinancialFox, technology and PR entrepreneur Stefania Barbaglio talked to Pietro Lanza, Blockchain Director at IBM and General Manager for IBM’s Intesa. IBM, already an established name in the IT space, was one of the first companies to push forward with new technologies’ adoption, working with Artificial Intelligence — in the development of their world-famous IBM Watson system.

Today, IBM takes the lead once more in its advancement of cutting-edge technologies such as 5G, quantum computing and blockchain. It has recently set up significant partnerships and strategic collaborations with organisations like the Bank of America and Samsung.

Italy forging ahead with technology.

Intesa is a special division within the IBM group, working with digital innovation in Italy, where IBM is a leading technology solutions provider for enterprises and public bodies. IBM’s applications benefit a variety of sectors by offering innovative solutions to improve performance and streamline transactions.

The focus is on blockchain: IBM has around 50 initiatives in Italy along with over 1,000 projects globally, all deploying blockchain-based projects which are disrupting various sectors such as financial services, trade, supply chains such as fashion and food industry, digital identity and logistics.

“At IBM we are focused on enterprise use of blockchain. The most relevant industries for our projects at the moments are financial service, food traceability and ‘made in Italy’ food, furniture and fashion. On the other side we are also working with logistics and supply chain applications of blockchain. We are still at an initial phase, but more and more we are moving towards maturity of these platforms, technology and business paradigm.”

The giant is working with the Italian government to focus on implementing blockchain into the food and fashion sectors, supporting the world-famous ‘Made in Italy’ quality. IBM has indeed established a global platform for this cause — IBM Food trust — and has teamed up with leading global food suppliers including Walmart, Carrefour France, and Nestle. Other projects and conversations with big companies are on going. Through the platform,an ecosystem of producers, suppliers, manufacturers, and retailers is formed, to create a smarter, safer and more sustainable food system for all. Organic produce and homegrown origin-certified products are hallmarks of Italian culture: cheeses, olive oil , sauces, dairy products, pasta and pizza.

Recently, CHO, a Tunisian olive oil producer, announced it will use IBM blockchain to create a provenance record that traces Terra Delyssa from the retailer back to the tree. This follows the salmon farming company Cermaq and smoked salmon producer Labeyrie’s use of IBM’s cloud blockchain technology to trace their product supply chains.

Another prominent area of development is digital identity. IBM is working on creating the next level of digital identity by introducing IBM Blockchain-based sovereign identities, through which people can gain even tighter control over their identities and data, as well simplifying numerous transactions that require identification. Digital identity is a core business for IBM as it is the certification authority, and manage the Digital ID for over 50 million Italian & other European citizens. As part of a global, public permissioned blockchain ledger, IBM Verify Credentials makes it possible for known, trusted issuing organisations to issue credentials to individuals.

For financial services and trading, IBM has been working on the use of blockchain and digitalisation to streamline traditional paper-based trade finance practices.

Looking into the newest technologies, IBM has already taken steps into the 5G and quantum computing spaces. At the end of October, Samsung Electronics and IBM announced a new joint platform leveraging IBM Cloud and AI capabilities and Samsung’s mobile offering, and this year has already seen discussions about 5G arising.

As a pioneering tech company, IBM started working on quantum computing several decades ago and the technology is now in a relatively stable phase ready for testing and utilisation. @IBM Research has developed a publicly available Q problem which deploys quantum power through @IBM Cloud and can be tested by anyone. IBM also recently signed a multi-million agreement with Germany for joint development of this technology.

IBM has been ranked #1 for patents deposited for the 27th year in a row, such an achievement has been possible due to large investments and fundings to the company’s R&D, which is being made available to its teams throughout the19 research centres globally.

Watch the interview:

Be sure to follow us on social media @cassiopeia_ltd to keep up with more news and updates in this exciting sector. And don’t forget to subscribe to our channel to get notifications about further upcoming interviews on FinancialFox.

Fashion companies focused on Supply Chain Transparency and Blockchain

Transparency is a pressing issue in the fashion industry today. As a solution to this hot topic, blockchain in the fashion industry is being increasingly used to not only increase intellectual property protection for designers and companies but also to rapidly trace the entire journey of the finished product as it travels through the distribution chain right from the initial raw material stage up until it reaches the consumer, thereby giving rise to greater clarity about its origins for both brands and consumers alike. Companies are thus steadily working towards ensuring greater visibility and transparency of the workers in supply chains, the business relationships therein and publicly communicating about the initiatives they are taking to ensure sustainability across the supply chain.

In 2019, 200 fashion brands and retailers took part in the Fashion Transparency Index study which showed that sportwear and outdoor brands were leading the way on the transparency front. The 5 brands who scored the highest on their supply chain transparency are Adidas, Reebok, Patagonia, each scoring 64%, Esprit with 62%, and fast-fashion clothing chain H&M scoring 61%.

As of 2019, only 10 brands are disclosing information regarding where and who are they getting their supply of raw materials like viscose, wool, etc. The brands are:

ASOS

C&A

Esprit

Lululemon

Marks & Spencer

Patagonia

The North Face (VF Corporation)

Timberland (VF Corporation)

Vans (VF Corporation)

Wrangler (VF Corporation)

Brands who have shown the highest improvement since 2018 in their level of disclosure of supplier lists overall to the public are Dior (up by 22%), Sainsbury’s Tu Clothing (up by 21%), Nike (up by 21%), New Balance (up by 18%), and Marc Jacobs (up by 17%).

This statistic shows the willingness of consumers to buy sustainable fashion worldwide in 2018. In 2018, 60 percent of respondents stated that they would buy sustainable fashion if it were the same price as normal fashion.

A blockchain software company named Provenance collaborated with London-based designer Martine Jarlgaard to produce, using blockchain technology, the world’s first tracked garment. Consumers in store, after scanning the label on the clothing items, could witness the history of the product and be certain about the sustainability of the raw material sources.

Courtesy : KPMG

Luxury brands, for example LVMH which is the world’s largest luxury conglomerate, are also embracing this technology to track luxury goods and prove their authenticity. Louis Vuitton and Parfums Christian Dior are the first two brands to go on board with LVMH’s blockchain platform called ‘Aura.’

Courtesy : Louis Vuitton

In the highly competitive luxury fashion sphere, the main role of blockchain is to help brands and retailers connect with each other who wouldn’t otherwise disclose information to their rivals.

In the diamond industry too, brands like De Beers and small start-ups like Taylor & Hart are making use of blockchain ‘to help trace their supply chains from mine to shop floor.’ While De Beers developed Tracr, an open-source blockchain platform by collaborating with five other diamond manufacturers, Taylor & Hart united with blockchain start-up Everledger to validate the provenance of its diamonds.

Also, built upon blockchain technology in the form of a peer-to-peer ecosystem is Fashion Coin, which is designed in such a way that allows a consumer to directly get in touch with any member involved in the garment creation process like the designer, model, stylist, etc. and be a part of the journey and invest in the early stages of product designing, while being incentivized via a specially built token.

As a defense to fakery, e-commerce giant Alibaba as well is developing a blockchain application which allows buyers to trace the journey of the product from the factory to their front door by scanning it, thus knowing if it is an original piece or not. Similarly, very recently the payments giant, Mastercard, announced about its new blockchain-based product tracking solution which, it says, would ‘provide a clear record of traceability’ as it is ‘designed to contribute to consumer confidence and trust by creating awareness of the authenticity of the product.’

The impact that blockchain is set to have on the fashion industry is huge but for that to materialize, considerable investment is required to construct the systems to support it. The real-time access to streamlined product information that blockchain technology provides will inevitably enable retailers to scrutinize stock status as well as customer feedback. Eventually, because of the surge in the blockchain-based platforms, deals struck with middlemen can be expected to slowly come to a halt as there will be more transparent communication between manufacturers, brands and the consumers.

As technologies are becoming more and more advanced and data privacy issues becoming a sensational topic, growing concerns about the revelations of personal data and its subsequent use for marketing purposes, are but rampant. Thus, secure and guarded technology platforms should be built and consumers should be given extensive insights into the workings of blockchain to ensure its success in the future.

For more such engaging content, please follow us on Twitter @Cassiopeia_ltd @_FinancialFox and subscribe to our YouTube channel: Cassiopeia Services PLC

Fashion companies focused on Supply Chain Transparency and Blockchain

Transparency is a pressing issue in the fashion industry today. As a solution to this hot topic, blockchain in the fashion industry is being increasingly used to not only increase intellectual property protection for designers and companies but also to rapidly trace the entire journey of the finished product as it travels through the distribution chain right from the initial raw material stage up until it reaches the consumer, thereby giving rise to greater clarity about its origins for both brands and consumers alike. Companies are thus steadily working towards ensuring greater visibility and transparency of the workers in supply chains, the business relationships therein and publicly communicating about the initiatives they are taking to ensure sustainability across the supply chain.

In 2019, 200 fashion brands and retailers took part in the Fashion Transparency Index study which showed that sportwear and outdoor brands were leading the way on the transparency front. The 5 brands who scored the highest on their supply chain transparency are Adidas, Reebok, Patagonia, each scoring 64%, Esprit with 62%, and fast-fashion clothing chain H&M scoring 61%.

As of 2019, only 10 brands are disclosing information regarding where and who are they getting their supply of raw materials like viscose, wool, etc. The brands are:

ASOS

C&A

Esprit

Lululemon

Marks & Spencer

Patagonia

The North Face (VF Corporation)

Timberland (VF Corporation)

Vans (VF Corporation)

Wrangler (VF Corporation)

Brands who have shown the highest improvement since 2018 in their level of disclosure of supplier lists overall to the public are Dior (up by 22%), Sainsbury’s Tu Clothing (up by 21%), Nike (up by 21%), New Balance (up by 18%), and Marc Jacobs (up by 17%).

This statistic shows the willingness of consumers to buy sustainable fashion worldwide in 2018. In 2018, 60 percent of respondents stated that they would buy sustainable fashion if it were the same price as normal fashion.

A blockchain software company named Provenance collaborated with London-based designer Martine Jarlgaard to produce, using blockchain technology, the world’s first tracked garment. Consumers in store, after scanning the label on the clothing items, could witness the history of the product and be certain about the sustainability of the raw material sources.

Courtesy : KPMG

Luxury brands, for example LVMH which is the world’s largest luxury conglomerate, are also embracing this technology to track luxury goods and prove their authenticity. Louis Vuitton and Parfums Christian Dior are the first two brands to go on board with LVMH’s blockchain platform called ‘Aura.’

Courtesy : Louis Vuitton

In the highly competitive luxury fashion sphere, the main role of blockchain is to help brands and retailers connect with each other who wouldn’t otherwise disclose information to their rivals.

In the diamond industry too, brands like De Beers and small start-ups like Taylor & Hart are making use of blockchain ‘to help trace their supply chains from mine to shop floor.’ While De Beers developed Tracr, an open-source blockchain platform by collaborating with five other diamond manufacturers, Taylor & Hart united with blockchain start-up Everledger to validate the provenance of its diamonds.

Also, built upon blockchain technology in the form of a peer-to-peer ecosystem is Fashion Coin, which is designed in such a way that allows a consumer to directly get in touch with any member involved in the garment creation process like the designer, model, stylist, etc. and be a part of the journey and invest in the early stages of product designing, while being incentivized via a specially built token.

As a defense to fakery, e-commerce giant Alibaba as well is developing a blockchain application which allows buyers to trace the journey of the product from the factory to their front door by scanning it, thus knowing if it is an original piece or not. Similarly, very recently the payments giant, Mastercard, announced about its new blockchain-based product tracking solution which, it says, would ‘provide a clear record of traceability’ as it is ‘designed to contribute to consumer confidence and trust by creating awareness of the authenticity of the product.’

The impact that blockchain is set to have on the fashion industry is huge but for that to materialize, considerable investment is required to construct the systems to support it. The real-time access to streamlined product information that blockchain technology provides will inevitably enable retailers to scrutinize stock status as well as customer feedback. Eventually, because of the surge in the blockchain-based platforms, deals struck with middlemen can be expected to slowly come to a halt as there will be more transparent communication between manufacturers, brands and the consumers.

As technologies are becoming more and more advanced and data privacy issues becoming a sensational topic, growing concerns about the revelations of personal data and its subsequent use for marketing purposes, are but rampant. Thus, secure and guarded technology platforms should be built and consumers should be given extensive insights into the workings of blockchain to ensure its success in the future.

For more such engaging content, please follow us on Twitter @Cassiopeia_ltd @_FinancialFox and subscribe to our YouTube channel: Cassiopeia Services PLC