Bext360, a new initiative for organic cotton
The Blockchain startup Bext360 has decided
to partner with multiple tech companies for testing if the blockchain can be used for using the organic cotton supply chain. Bext360 provides comprehensive and measurable accountability for critical supply chains. The SaaS platform provides unsurpassed blockchain traceability and quantifiable measurements for sustainability. Bext360 focuses on supply chains such as coffee, seafood, timber, minerals, cotton and palm oil to provide a traceable fingerprint from producer to consumer.
The pilot test is called as Organic Cotton Traceability Pilot. It is a partnership between the C&A Foundation, the Organic Cotton Accelerator and Fashion for Good supported by C&A, Zalando, PVH Corp and the Kering Group. In the current phase, organic cotton is traced from farms to the gin for processing. The second and third phase will ensure the tracing of cotton from gin to consumer and then scaling it for fashion industries respectively. Still as it costs too much to produce, that percentage still accounts for nearly $15 billion market.
Several companies are working with technical pilot Bext360 for this initiative. To ensure the authenticity
of the cotton, these companies “tag” the cotton which is further being “fingerprinted” in the supply chain
by Bext360 to ensure the veritable nature of the cotton. The blockchain software then creates a “token” through which the consumer can trace every path
of cotton. These individual electronic tokens can
be used to track the process of harvesting, processing uptill the final product. The pilot Bext360 Agricultural project can be a great contributor in the sustainability efforts of the brands and the supply chain. With cotton becoming more verifiable, there will be added incentive for all in the chain to use the sustainable cotton and the brands will be happy to give verifiable tags to their consumers.