Autify Network – A Blockchain-based Start-up Revolutionizing the Luxury Fashion Industry

Bangalore, Karnataka, Feb 22, 2023, ZEXPRWIREAutify Network is a young and dynamic blockchain-based start-up that is transforming the luxury fashion industry’s supply chain management. The company aims to create a decentralized ecosystem that ensures transparency, efficiency, and trust for all stakeholders involved in the supply chain of luxury fashion products.

The luxury fashion industry faces a multitude of challenges, including supply chain complexity, counterfeiting, and high operating costs. These challenges are often amplified by the lack of transparency and trust among the stakeholders involved. Autify Network addresses these issues through the implementation of blockchain technology, which enables the creation of secure and transparent supply chain management systems.

Autify Network leverages blockchain technology to create a decentralized platform that connects all stakeholders in the luxury fashion industry, including manufacturers, suppliers, wholesalers, retailers, and consumers. The platform ensures transparency, enabling every party to access real-time data regarding the products’ origins, quality, and authenticity.

Autify has raised $1.9 million in funding across a pre-seed round led by Loop Ventures, as well as angel investments and grants from NEAR Foundation, Filecoin, Biconomy, Dfinity & others.

The process of the supply chain involves many characters and ensuring their trust and transparency is what Autify brings you. By creating a secure and decentralised ledger of transactions, Autify Network will provide an accurate and tamper-proof record of a product’s journey from raw materials to the final retail product. This can help address issues of exploitation and unethical practices in the supply chain, such as forced labour and environmental harm.

The advanced technology and the help of AI, Autify Network will work towards the unique identification of physical products to ensure their originality. Through the lifecycle of the product, it records and roles and specifies the entitlement regarding the product. 

So this way each step of a product’s journey can be recorded and tracked, allowing for greater visibility and accountability throughout the supply chain. Consumers can access this information, building trust in the brand and increasing transparency in the industry. Also, Autify will replace basic hashing algorithms, the system will ensure a higher level of data accuracy with detailed documentation and reduced costs. 

Moreover, the implementation of blockchain technology results in significant cost savings by eliminating the need for intermediaries and reducing administrative overheads. The platform’s smart contracts streamline payment processes, ensuring faster and more secure payments for all stakeholders.

The Autify Network team, mentors and advisors consist of experienced professionals from the luxury fashion industry, blockchain, and supply chain management. Their expertise in these domains ensures that the platform is optimized to address the industry’s specific challenges effectively.

In conclusion, Autify Network’s blockchain-based platform is revolutionizing the luxury fashion industry’s supply chain management by ensuring transparency, efficiency, and trust. Their solution is scalable, secure, and cost-effective, providing a competitive edge to the industry’s stakeholders. The Autify Network team is determined to continue pushing the boundaries of innovation, and their impact on the luxury fashion industry will undoubtedly be profound.

The company has partnered with companies like Filecoin and Biconomy that have been working on Web3 infrastructure/tooling. Other than that, Celo, Chainlink, Graph protocol and Hedera are also some of the prominent partners. 

Find more about us at Autify Network

Media Contact

Company Name:-Autify Network

Email:-[email protected]

Company Website:-https://www.autify.network/

The Post Autify Network – A Blockchain-based Start-up Revolutionizing the Luxury Fashion Industry first appeared on ZEX PR Wire

Information contained on this page is provided by an independent third-party content provider. Binary News Network and this Site make no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact [email protected]

News

Tamino Minerals, Inc. on Peru, Corporate Reorganization

The Company is reorganizing, we are moving to do business in Peru. Sheridan, Wyoming, United States, 6th Sep 2022, King NewsWire – “Tamino” or the...

FlyFin Announces Free Quarterly Tax Calculator

Handy Tax Calculator Helps Estimate Taxes for Self Employed Individuals on Rolling Basis San Jose, CA, United States, 8th Sep 2022, King NewsWire – FlyFin, the...

Scott McCoy of Cold Springs Partners Shares his Insights on Entrepreneurship and Being a Lawyer

Seattle, Washington, 15th September 2022, ZEXPRWIRE, As an entrepreneur, Scott McCoy of Cold Springs Partners knows a thing or two about what it takes...

Atlantic Home Capital Helps Clients Realize Their Dreams of Earning a Passive Income Through Investment Properties

The leading mortgage broker in the country is helping homeowners realize their dream of owning investment properties and having multiple sources of income. Farmingville, New...

All Year Cooling and Heating Helps Its South Florida Customers Get Ready for Another Hot Summer in 2023

Coral Springs, FL, 15th April 2023, ZEX PR WIRE, Since 1973, All Year Cooling and Heating has installed and maintained air conditioners for 350,000...

Peter Fetherston of New York City Featured in Billion Success

New York, NY, 6th June 2022, ZEXPRWIRE, Peter Fetherston, renowned financial advisor and founder of PJF Consulting Group, was recently interviewed by Billion Success. In...

Valley Relocation Offers Warehousing and Storage Facilities to Improve the Moving Experience

California-based relocation company offers temporary and long-term warehousing & storage services to local businesses. California, US, 27th October 2022, ZEXPRWIRE, Valley Relocation is a...

Z Finance Solutions Makes The Home Buying Process Easier For Beginners Through Their First-Time Home Buyer Loans In Texas

Professional loan officers and realtors at the real estate company provide seamless residential, commercial, and investor targeted services for clients looking to acquire their...