Blockchain allows data to be transparent and traceable. Because any data can be put inside it, companies can leverage the technology to meet the hype of the modern trend.
Satoshi Studio is one of the players. Here, the brand is considered the first to put sneakers inside blockchain. The Parisian company has launched its very first product, the Satoshi_one, which is a pair of high-end sneakers made with full-grain, quality leather from Italy, manufactured in Portugal.
Taking a minimalist approach with gold and silver lettering, the product is certified on blockchain.
What this means, using blockchain, consumers can identify where the leather came from, where the shoes were manufactured, who the owner is, and when he or she registered them on the network.
The name “Satoshi” comes from the pseudonym of the mysterious founder of Bitcoin, Satoshi Nakamoto.
Until this date, Satoshi has never been identified. And Satoshi Studio is taking advantage of that to create a brand for its products.
According to Satoshi Studio's founders Nicolas Romero and Cedric Cervantes:
At the production level, Satoshi Studio creates a database with all the information about the product, which include date of production, materials, model, etc., as soon as it is manufactured.
After each pre-sale campaign, the company launches the production, and then store a unique ID on an NFC tag in a label holder which comes with the sneakers. And for those who don't own a smartphone with an NFC reader, the company also provides a printed version of this unique ID inside the box.
Upon scanning the tag, customers will retrieve the digital agreement (smart-contract), and can register as the owner of the sneakers they buy. After that, if someone else duplicates or scans the code, they will only see the certificate and the legitimate purchaser, meaning that it won't allow anyone else to take ownership.
Only the true owner of the sneakers can transfer this ownership, like for instance, when attempting to resell the product.
While blockchain for fashion products, no matter how good the quality is, may seems like an add-on, but Satoshi Studio founders "believe it can massively improve the experience and the relationship between the brand and its community."
Also in the fashion industry, LVMH has what it calls AURA, which aims to bring together various luxury brands through a private Ethereum blockchain.
However, the use of blockchain for transparency and traceability in fashion may not be foolproof in the near future, owing to the complexity of the production supply, and also the technology itself. As a result, while data can become more transparent, there can still be counterfeits.
Because fashion brands sell physical products, fraudsters can always find “non-technical” ways to deceive consumers with counterfeits.
However, by using blockchain, things should be more complicated for fraudsters that want to counterfeit legitimate products on a large scale.
