Altcoin News: Industry 4.0 — Levi Strauss and Harvard Build Blockchain-Based Security System
January 29th, 2019 by Marko Vidrih on ALTCOIN MAGAZINE
Levi Strauss wants to improve his production line and make it safer. For this purpose, the fashion company is testing a blockchain platform in some of its production sites. ConsenSys is also there.
In order to achieve better documentation and thus monitor the production chain, the American fashion brand Levi’s is testing an in-house blockchain. They get help from the University of Harvard. Dr. Eileen McNeely, director of the research organization Chan’s Sustainability and Health Initiative for NetPositive Enterprise, said, “Over the past 25 years, supply chains have been mainly audited.” A new solution would be found in a distributed system such as blockchain. The advantage here is that there would be a complete and not falsifiable control back to the origin of the production.
Levi’s wants to use the system first as a test. For this purpose, the fashion group selected three factories in Mexico, in which working a total of about 5,000 employees. The test operation is to be expanded in the coming year and based on the blockchain produce annual reports on product safety. The Institute of Harvard University has developed an index that Levi Strauss uses to create the counterfeit-proof reports.
ConsenSys in the boat
Joseph Lubis from company ConsenSys is responsible for the technical implementation. The company is closely linked with Ethereum (ETH).
This order will also be important for ConsenSys. Last year, it was revealed that the company had meanwhile considered dismissing up to 60 percent of its employees. In fact, the company will dismiss only about ten percent of its employees.
Employees in support and technicians were both affected. In the blockchain, the economy puts a lot of hope in order to optimize and improve processes — in line with Industry 4.0.
Author: Marko Vidrih
Image via Shutterstock
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