Garment Hanger Company Mainetti Turns to Blockchain to Help Clients

Global garment hanger production company Mainetti has turned to blockchain technology as a solution for tracking how far its clients have gone in terms of their climate and environmental sustainability goals. Mainetti plans to plunge up to HK$1 million which is approximately $127,000 into the initial development phase of the tool in collaboration with a technology company.

For now, the technology partner’s identity is yet to be disclosed, all that is known is that it is an Europe-focused multinational which has been in the business of tracking certain parameters but in the food and farming sector. 

This tool is a solution which will serve as a blockchain-based recording and validation system. It is designed in such a way that it digitally documents and facilitates autonomous verification of the carbon footprint of clients’ activities across the supply chain. For instance, the tool will trail customers’ production processes from the first stage of searching for raw material to the final leg of distribution.

The Mainetti blockchain-based tool launch and commercialization is intended for May. Mainetti customers see a need to control how much their production process affects the environment. 

According to Paul Tai, the regional director who oversees Asia operations apart from India at Mainetti,”Luxury brands, meanwhile, are steered more by the chance to build awareness of their contribution to environmental protection and climate mitigation efforts,” and “Without digitalisation tools, it would be extremely difficult to verify the carbon footprints through the supply chain.”

Blockchain Application in Industries

The applicability of blockchain technology is gradually becoming evident and significant across several industries. While it is not designed to overrule traditional systems, it presents itself as an advanced approach to several challenges.

In the case of tracking progress, traditional methods offer a clunky strategy where companies have to get a carbon footprint certificate for every raw material and input involved in their production. At the same time, a separate auditing process will be required for every one of these inputs. Tai believes that this technique is cumbersome and inefficient altogether.

Financial and banking sector are already leveraging the offerings of blockchain technology as it stands. Also, to boost adoption, many tertiary institutions have introduced blockchain-based courses into their curriculum.