Wave
Using blockchain to promote sustainability in the apparel industry
Introduction
Textiles is the second most polluting industry globally. The average lifespan of a garment is roughly three years, and consumption keeps increasing, so textiles generate a huge amount of waste. Five percent of all global landfills are being taken up by dumped textile waste.
Problem
Apparel businesses are looking for ways to change their operating models and address the increasing demand for sustainable practices. They are working on reducing their environmental footprint and converting textiles into a circular economy.
However, “Greenwashing” is currently an issue in the industry: companies deceive consumers into believing they follow sustainable practices when they don’t really have everything figured out.
So, traceability and transparency have become increasingly important as companies try to improve their processes, respond to consumer and government demands, and differentiate themselves from competitors.
Opportunity
WAVE provides businesses with tools to quantify their circularity rate and environmental footprint. By doing so, we aim to help businesses understand their impact on the environment and take responsibility for it.
It’s not only the right thing to do for the planet, but also the smart thing to do for businesses looking to remain competitive and thrive in an increasingly sustainable and environmentally conscious world.