Tex.Tracer: Revolutionizing the Fashion Industry through Blockchain

03/07/2023 12:49 • Tech Trends • 95 views

It is reported that the blockchain fashion transparency platform, tex.tracer, announced the completion of 1.5 million euros of seed round financing, with the participation of ROM InWest, HearstLab, Joanna Investments and a number of angel investors. Tex.tracer uses blockchain technology, time and geographical location markers, and point-to-point audit functions to collect reliable verification data from major sources.

The blockchain fashion transparency platform tex.tracer completed 1.5 million euros of seed round financing

Analysis based on this information:

Tex.Tracer, a blockchain-based platform, recently reported the completion of 1.5 million euros of seed round financing. The investment was led by ROM InWest, Joanna Investments, and HearstLab, along with numerous angel investors. The platform’s aim is to revolutionize the fashion industry through transparency by using blockchain technology, time and geographical location markers, and point-to-point audit functions for collecting trustworthy verification data from major sources.

Blockchain technology has captured the world by storm in recent times, and its adoption has skyrocketed due to its immense capabilities in terms of data security and decentralization. Tex.Tracer deploys the blockchain technology to create a digitalized and secure database of every product’s lifecycle data. This strategy will revolutionize the fashion industry, as it will bring transparency to the fashion supply chain. Consumers will be able to know exactly where the product comes from, who made it, the materials used, and its environmental impact. This move will not only increase consumer’s trust and loyalty but also enable ethical and sustainable clothing production.

Moreover, Tex.Tracer’s use of time and geographical location markers will ensure that the data provided is accurate and well-traceable. This marker will also ensure accountability and transparency throughout the supply chain. The point-to-point audit function will facilitate real-time communication among respective parties, allowing for quicker and more reliable results. This approach will help businesses reduce costs, time wastage, and identify inefficiencies in their supply chain.

Tex.Tracer’s commitment to transparency is a significant step towards achieving sustainability in the fashion industry. The fashion industry has been under public critique for its detrimental impact on the environment and human rights violations. Through Tex.Tracer, customers can confidently support responsible brands that promote environmental sustainability, ethical labor, and production standards.

In conclusion, Tex.Tracer is a game-changer in the fashion industry. Its blockchain-based platform aims to bring transparency in a sector that has been plagued with unethical and unsustainable practices for years. The use of blockchain technology, time and geographical location markers, and point-to-point audit functions in data verification brings a level of transparency to the fashion industry that was lacking before. The platform’s seed round funding is a significant milestone, and it will be intriguing to see the platform’s impact on the fashion industry in the coming years.

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Tex.Tracer: Revolutionizing the Fashion Industry through Blockchain

The blockchain fashion transparency platform tex.tracer completed 1.5 million euros of seed round financing

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