Welcome to Hoken Tech

The fashion industry is constantly evolving, always in search of innovations and trends that can capture consumers’ attention. In this context, blockchain is proving to be a revolutionary technology capable of profoundly transforming the way fashion companies operate and influencing consumer choices.

Especially in high fashion, where counterfeiting has become rampant, causing harm to both end consumers and legitimate companies, blockchain becomes a crucial partner in authenticating and combating the phenomenon of fakes.

Before delving into how blockchain can serve the fashion industry, it is necessary to provide an overview of the existing blockchains and which ones are best suited for this type of solution. Not all blockchains are the same, and the term “blockchain” is too vague.

Essentially, there are private distributed ledger technologies (DLTs), commonly referred to as “private blockchains.” Despite having the term “blockchain” in their name, they do not possess all the elements of public blockchains, such as immutability. This means that if a company has used a private blockchain or a blockchain consortium, unfortunately, those data can be modified.

On the other hand, public blockchains are the original and optimal ones that guarantee all the requirements of immutability, transparency, and so on. It is important to choose blockchains that have minimal environmental impact, such as carbon-neutral or climate-positive blockchains like EOS, where 80% of blockchain operators use energy from renewable sources.

Thanks to blockchain, we can utilize this technology in two ways: authentication of products and combating counterfeiting, as blockchain data cannot be modified.

Through the use of non-fungible tokens (NFTs), it is possible to integrate additional indispensable information related to the object. This allows the end user not only to have all the information at hand but also to transfer, exchange, or sell the corresponding NFT.

If we look at the traditional market, we see that the measures adopted only allow for the verification of product authenticity, and in some cases, it leads to a generic collection page with limited information.

However, the solution designed and developed by Hoken Tech not only provides an initial level of security for authenticity but also directs users to the NFT of that specific product. Within the NFT, all the details and information about that particular product are stored.

In this way, the manufacturer not only securely and mathematically protects their products from the risk of counterfeiting but also receives all the relevant information about the product, such as geographic data, where the product was sold, the type of product, and more. This enables monitoring and tracking even after the sale, providing better customer support.

Undoubtedly, blockchain represents an additional tool for the fashion industry, which has long been plagued by counterfeiting.

More and more companies are integrating this technology, although sometimes poorly by using costly and unnecessary solutions like private blockchains or DLTs.

However, there are also startups like Hoken Tech that are advancing accessible and environmentally sustainable technology because we can protect our planet even in these details.