Story originally appeared in Fibre2Fashion’s December 2020 issue. Excerpts from the story below. To see the full story visit Fibre2Fashion.com.

Commentary from Jim Hull, Senior Director, Industry Strategy, Retail at Blue Yonder:
That said, the goal of a supply chain blockchain is not specifically to safeguard financial transactions, but rather to provide visibility to provenance of products back to the point of origin.  In this setting, the distributed ledger approach can be very valuable.  We are already seeing versions of track and trace for products where proof of origin has an influence on the purchase decision; products such as diamonds, sustainable fish, offshore clothing producers, etc.  There is a lot of data showing that these considerations are more pronounced in the emerging generations like Gen Z and Millennials.  As those generations increase their purchasing power, the importance of a trusted, verifiable source of origin will also increase.