Bengaluru-based firm Textile Genesis has bagged Global Change Awards by the H&M Foundation award.
Once again Global Change Awards by the H&M Foundation honoured projects that aim to contribute to sustainable fashion. From among the 5,893 applications submitted from 175 countries between August and October 2019, a total of five major innovations were selected for support from the awards.
One of the winners was Textile Genesis of India that has garnered €150,000 (Rs 1.24 cr approx) for its ‘Tracing Threads’ venture, which makes sustainable fibres traceable using blockchain technology. Based out of Hong Kong, and Bengaluru, Textile Genesis is a blockchain-enabled digital transparency platform founded by Amit Gautam that has been working with a number of retail chains and brands.
Consumers in evolving sustainable fashionscape want to understand the origins of their garments. Not just the way they are made but also the origins of the fabrics used. With Textile Genesis’ innovation, this information might be easily accessible. By employing blockchain technology, and thanks to increased transparency, it will be easier to verify the sustainable fibres that are used all the way from fibre production to retail.
Blockchain technology, introduced almost a decade ago, has now been used by various luxury brands to keep a track of their transactions and manufactured products. It is a digital document accessible to multiple members who are the part of a supply chain and can view the changes/updates any member is making. They cannot tamper with the changes made by other party members, but every party member can view the changes. It’s like a digital accounting system that can’t be manipulated or changed.
Textile Genesis makes this tracing mechanism more full-proof. Each material batch is certified with a twin fibre coin, a digital token that can be linked to a fingerprint ensuring a unique digital identity for the material that is sustainably produced. They will further help create the ability to transparently trace and manage the textile products across the apparel supply chain.
With their innovation, Textile Genesis aims to create an open network for the entire apparel ecosystem, covering the entire chain from fibre to retail. Besides this, they aim to create a cloud-based platform and a mobile app offered to brands that will help them conduct transparent transactions across the supply chain. They also aim to build traceable data protocol based on GS1 framework, a global traceability standard that is already used in the food and healthcare industry.