Award for Retraced
Sustainable startup success made in Düsseldorf.
We are extremely happy to announce that Düsseldorf-based blockchain startup Retraced has been awarded a special price for Digitization and Sustainability as part of the 2020 Deutscher Nachhaltigkeitspreisis.
Founded in 2019, retraced helps fashion brands to track their entire supply chain and make it transparent to end consumers. To this end, the start-up collects data in the fashion companies’ value chain that provide information about their own production standards with regard to sustainability and fairness. Blockchain technology ensures that the data collection is not manipulated and end customers receive reliable and relevant information. Using Track & Trace, companies can give each of their products a digital code that provides real-time data such as the product’s route and the entire production process. End customers can in turn scan the code using a mobile app and view all information. The aim of the Düsseldorf-based company is to show consumers the extent to which their consumer behaviour influences the environment and the lives of the people behind the product and to raise their awareness of the consumption of fairly produced fashion. At the same time, retraced wants to give fair brands a competitive advantage through its services and increase the pressure on commercial fashion brands to also work on their own production standards to combat poor environmental and working conditions.
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