Stephanie Benedetto

How One CEO Is Using Blockchain Technology To Reduce Waste In The Fashion Industry

Fashion Industry is the number second polluter in the world and it contributes to the number one polluter in the world. This industry is estimated to contribute up to 20% of industrial water pollution in addition to millions of pounds of fabric waste every year.

Stephanie Benedetto, Chief Executive Officer and co-founder of Queen of Raw is reducing to fix this problem by using blockchain technology. It takes 700 gallons of water to produce one t-shirt and another 700 gallons of water to wash it over its lifetime and more than 2 million t-shirts are sold around the world each year says Benedetto.

“By the year 2025, two-third of the world will face the problem of fresh water and be exposed to hazardous chemicals from textile production alone. People think that it’s just in China, Vietnam and India but it is actually having an impact on our water in Europe and in the U.S as wll”, says Stephanie in an interview.

Why fashion industry wastes so much materials ?

“Those statistics are when you’re talking about finished goods and what I have discovered where we have focused our efforts have been up the chain and that’s with the raw materials. The reasons why this factories, brands, mills, retailers are sitting on all of these raw materials is by the way to quantify is actually $120 billion worth of perfectly good stuff and raw materials every single year that’s made and sitting in warehouses unused. ”

This happens because of designers, they over purchase to make sure they can meet demand. All this forecasting and planning creates on average 15% of every single production run ending up is waste.

How blockchain is helping to reduce fashion industry waste ?

Blockchain technology is helping us in a broad way. It’s a revolutionary step for supply chain. It means that at each and every point we are able to verify data and know every step of really complicated supply chain. Millions of people across the world connected as products move from place to place. We can now use blockchain to verify data and know who said what when, who’s doing what in that supply chain and all that in real time control the date and the analytics.

Suppose An enterprise customer like H&M, any of their vendors or suppliers in their supply chain can verify data from an app on their phone and tell us what they’re doing with those fabrics. For example, they get 100,000 years of fabric but they only used 50,000 yards to make t-shirts, they now can click an button on the app and an alert occurs and now we know that there is a waste of fabric sitting at that location.

This is how Stephanie is working on to reduce waste materials from fashion industry, do you have any idea how you can also use technology to make this world a better place for future ? If yes, and do let us know in the comments.

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