Blockchain supports sustainability at Kering
Author: Yiannis Kotoulas
Kering Eyewear has launched its blockchain-based Verified, Integrated, Reliable, Trustworthy, Unique and Secure (Virtus) data exchange platform to enable improved assessment and tracing of its manufacturing operations.
Blockchain technology was incorporated to allow the company to record each point of its manufacturing process across disparate companies and locations in an easily accessible digitally distributed ledger that cannot be amended.
‘The blockchain is a centralised, distributed ledger that will allow all parties to contribute to the creation of Kering Eyewear’s product-specific database through univocal and unalterable transactions,’ the company explained.
‘We are now able to start building a clear and transparent roadmap of our entire supply chain, achieving detailed analysis and knowledge about the provenance and characteristics of each composition and manufacturing technique behind what we do,’ said Kering’s head of global supply chain, Barbara Lissi.