PARIS — Because of the blockchain, traceability is the brand new transparency.
Beauty brands have recently dabbled with NFTs, that are on-chain. Now, many brands are beginning to go a step further with the technology, using the blockchain to be more transparent about ingredient-sourcing and supply-chain traceability.
The blockchain is amazingly helpful for this, because it’s like a living, digital, non-hackable ledger, which is universally accessible. That chimes with the desires of an increasing variety of beauty purchasers nowadays.
“Consumers are evolving. They need transparency about your brand, your supply chain, your integrity and your ideals,” said Swan Sit, a Web3 adviser and creator.
The connection between beauty and the blockchain is in its nascent phase, in keeping with industry experts, who underline that...
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