We’ve heard so much about blockchain recently—about the rise and fall of cryptocurrencies, including Bitcoin, and how this technology is positioned to radically transform how we transact in a global marketplace. Despite all the buzz, little has been written on how blockchain will impact the fashion industry. On today’s episode of the Electric Runway podcast, we’re speaking with Ina Samovich, the founder of CopPay, to learn all about how blockchain and fashion brush elbows.
CopPay is a blockchain solution for business. In short, it enables merchants and retailers of any size to accept cryptocurrency as a form of payment. In this episode, Ina breaks down some of the language surrounding blockchain to make it relevant for a fashion technology audience. She shares how CopPay collaborated with United Colours of Benetton in Lithuania to enable the brand to accept Bitcoin and other cryptocurrencies as a form of payment.
In addition to shaping how we transact globally, blockchain also has other implications for the fashion industry, says Ina. The technology can help ensure the authenticity of luxury products and can even help consumers better understand the supply chain behind their purchases.