#175 Blockchain + Responsible Sourcing to Tell a Better Story
Blockchain isn’t just about BitCoin.
In fact, cryptocurrencies were made possible because of Blockchain technology!
So what does this have to do with the jewelry and fashion industry?
Blockchain helps give a digital papertrail of each step in the manufacturing and sourcing process of a piece of jewelry.
So this means customers know exactly where the materials are coming from starting from where the metals are mined!
To explain it much better than I can, I interviewed three blockchain experts while I was traveling to Chicago!
I have Mark Hanna, the CMO of Richline Group. Mark has been in the jewelry space for over 45 years and has experienced all facets of management, manufacturing, marketing and sales and compliance.
Then there’s Jennifer Dawes who launched her collection Jennifer Dawes Designs in 2000, and has since evolved to become one of the main proponents of sustainable, responsible jewelry while also creating pieces that are magical to wear.
Finally, we have Cristina Villegas. She’s the artisanal mining and sourcing expert or the Director of Mining at Pact. She’s sharing a little bit more about blockchain to find out how Pact's using it, and then our conversation took a little bit of a turn when we started talking about child labor and what Pact is doing about that.
So let’s talk about the future of sustainable sourcing in jewelry!
Click here to download the show notes
Sourcing Raw Materials
Using this technology, you’d have an app that shows you exactly where the materials for your jewelry is coming from. This helps you because the level of trust with your suppliers is unquestionable.
You’re attesting to where the gold, diamonds, etc. is coming from to your customers as well. You can make sure it’s legit and sourced in an ethical way! It’s an easier and more readily accessible way to document transparency in sourcing materials.
Digital Documentation of the Story
Telling your customers where their jewelry is coming from is a huge part of creating an irresistible story about a piece of jewelry. Jennifer does this by telling her customers stories about the world renowned diamond cutter she works with and each person in the process.
But this blockchain data is like a digital string of proof for that story. You can show your customers exactly where their piece is in the creation process and tell the story of why and how it’s made that way.
Tracing the Supply Chain
Telling the story of female mining is uploaded to blockchain so customers can virtually meet the people at the beginning of the supply chain!
Sustainability is a big movement in the past few years to not only educate miners but also educate customers on what they’re purchasing and why it’s important.
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