In a consumer and legislative landscape where transparency rules, blockchain rose up as the leading solution. In the space of a few short years, it became the word on everyone’s lips as brands, especially in the fashion and beauty sectors, seemed to launch a “blockchain solution” every other day.
As cryptocurrency boomed, blockchain was initially understood by most as the technology that enabled the likes of Bitcoin and Ethereum (even if people didn’t know exactly how it enabled it). But it soon began to spring up in other areas as a way to facilitate more transparent supply chains. So what exactly is it, how does it work, where is it best applied, and what does the future hold for this technology?