Block.IS Challenge – Fashion

Block.IS organises 2 Innovation Challenges for the European community of entrepreneurs. Up to eight (8) SMEs will be selected to participate at each Challenge. The top 3 SMEs on each challenge will receive 1.000€ to attend the Block.IS Final event where they will showcase their proposals. The top solution for each challenge will receive additional funding of 12,000€.

Motivation

We are witnessing the change in the approach to the second-hand market. Both the #EUGreen Deal and the #EUCircularEconomy Action Plan focus on textiles and blockchain is a new yet powerful tool to help verify and empower business and ensure sustainability at the same time. It is difficult to find the right price in the current market and to target the right consumer groups. In the future all new produces fashion will hopefully by tagged from the beginning making it possible to follow fashion from newly produced to the reseller market making logistics and collaboration between partners in the supply chain easier.

Theme

The Secondhand market is an important partner in the circular business model and is growing both online and physical.

The challenge is to:

Assess if and how the data and technology can help them play a stronger role and boost the ecosystem needed to bring the fashion industry to a more sustainable future
Showcase if blockchain help verify and empower their business model with a stronger revenue stream and a scalable – as the problems often is that there are one-offs that are not documented, which makes the logistics difficult and impossible to match consumers with the right products.

In the end, educating and supporting the fashion consumers in making a more sustainable choice.