One startup from Toronto, Canada recently concluded a blockchain based pilot which helps Mongolian nomadic herders track and certify sustainable cashmere. This supply chain project was conducted with the United Nations Development Program (UNDP) and shows that the Canadian blockchain startup is looking to help Mongolian herders to trace cashmere from its roots.
As the blockchain news now show, the project is powered by Convergence.tech (the Canadian startup) and its Ethereum-based traceability platform, Backbone. The startup chose to focus on cashmere herders for its pilot as many of these individuals face a lot of harsh working conditions and income instability. Moreover, we are living in times when the fashion industry supply chain lacks transparency, making it difficult for customers to understand where cashmere products actually originate.
The CEO of Convergence.tech recently spoke online and told betakit the following:
“The nomadic community is one of immense pride but one with a volatile and unstable income. Leveraging blockchain technology within the transformation of the cashmere industry can provide numerous benefits for Mongolian herders, buyers, and sellers alike.”
In order to solve a lack of transparency that is facing the cashmere industry, the Canadian blockchain startup created a mobile application for Android devices. This app allows farmers to register their cashmere bales. At the same time, bales and packing slips have been equipped with radio-frequency identification tags used to track data and ensure an accurate location of products.
The tracking data, along with Backbone’s blockchain technology, is why the Canadian blockchain startup is in the crypto news today– and how its technology helps users see the path that cashmere took during its production lifecycle. Users could also view the environmental impact data generated to ensure that ethical raw cashmere was being sourced.
“Our learnings are pretty significant on this, and that’s why everything was around watching from afar. But now that that’s completed, we’ve been going around the world. We were in Singapore and Bangkok a couple of weeks ago presenting to the UN, USAID (the United States Agency for International Development), the World Bank, et cetera. So now we’re going to start seeing a lot more applications coming out,” the CEO Chami Akmeemana concluded.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
DC Forecasts - Newsletter and get recent news directly to your inbox! Daily Newsletter Bitcoin NewsAltcoin NewsLitecoin NewsEthereum NewsBlockchain NewsBitcoin ScamsRegulationExpert AnalysisPress ReleasesCardano NewsRipple NewsLibra NewsBitcoin Cash NewsTron NewsNexo NewsVechain NewsStellar NewsTezos NewsBinance Coin NewsCoinbase NewsChainLink NewsEOS NewsIOTA NewsTether NewsBitcoin SV NewsMonero NewsEthereum Classic NewsDash NewsUNUS NewsCosmos NewsMECX Token NewsNEO NewsDC Forecasts Announcements
Daily Newsletter Bitcoin NewsAltcoin NewsLitecoin NewsEthereum NewsBlockchain NewsBitcoin ScamsRegulationExpert AnalysisPress ReleasesCardano NewsRipple NewsLibra NewsBitcoin Cash NewsTron NewsNexo NewsVechain NewsStellar NewsTezos NewsBinance Coin NewsCoinbase NewsChainLink NewsEOS NewsIOTA NewsTether NewsBitcoin SV NewsMonero NewsEthereum Classic NewsDash NewsUNUS NewsCosmos NewsMECX Token NewsNEO NewsDC Forecasts Announcements
DC Forecasts provides a comprehensive source of the latest news about cryptocurrency news daily. Read more on our about us page for details.