We as customers have become blind users of products: we do not know what has happened to them before we buy them and we do not know what happens to them as soon as we discard them. This is a result of a strong competition about pricing and has worked well for a long time, but customers nowadays do not just want the lowest price. Sustainability, equal rights, child labour and inclusivity are examples of key values for actual customers. Products should not just be cheap, but also score good on these values. Most products score really bad at these values, but customers do not know for the specific products they buy how well these comply to their key values. The customer is in fact blinded in his decision-making process of buying a product and is therefore not able to make the right decision for him or herself.
Let’s take a T-shirt as an example. More and more customers care about the sustainability of their T-shirt, but except for an organic label there is no information about how sustainable a T-shirt is produced. Aside from the sustainability, customers hear stories about factories in Asia where workers make long days but do not make enough money for normal living standards. The customers do not want to buy T-shirts created in these factories, but again there is no way to know about this. Lastly, having used the T-shirt for a while, the customer does not know what happens to it when discarded.
|We want to increase trust and transparency by offering a platform that stores all the information about the trade that is happening between the parties of the supply chain on a blockchain. This way, the whole process of the supply chain of a product can be retraced, which would ultimately increase both transparency and trust of the consumers.
Customers will be given the opportunity to filter products based on each step of the supply chain by certain criteria (e.g. sustainability, human rights, location). Furthermore, they will see how much money each of the parties will be getting from their purchase. This way the customers now exactly know what has happened with the product before they received it.
Additionally, since every party in the supply chain is now registered on the blockchain, we will exactly know what every party adds to the product. This means that every party can be hold responsible for the part they add, even after having sold It to the next party in the supply chain. This drastically increases the opportunities for recycling. Going back to the T-shirt example: a customer can send the T-shirt back from the store he/she bought it from. This store can either make it sellable again, or send it back to the designer. The designer can either redesign and sell again or remove the design and send it back to the sewer. The sewer can either fix it and sell it again or decompose it and send it back to the weavers.