Blockchain’s Impact on Consumer’s Perspective in the Luxury Fashion Industry: A Position Paper
Résumé
Blockchain technology presents an opportunity for industries to implement for a more transparent and sustainable business model. The fashion industry is notoriously known for its complex and opaque supply chain and its negative impact on the environment and the people involved in the processes along the fashion supply chain. To address these long-standing challenges, the integration of blockchain technology has the ability to be the solution towards an ethical supply chain network. The study contributes to the current state of the fashion supply chain and the challenges it faces, outlining what blockchain technology is and its benefits in the context of the fashion industry. It also captures consumer sentiment on the subject of sustainability and transparency in the fashion industry and the perceived use and adoption of technology.
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