2023-7-15 14:48 |
STOCKHOLM – JULY 14, 2023 – Chromaway, a Stockholm-based blockchain technology company, disclosed today that it had signed a Memorandum of Understanding (MOU) to collaborate with COMUNITYmade for the co-designing and development of supply chain solutions that employ decentralized Web3 technologies to improve product-provenance and openness, give more control to designers, and speed up the time it takes to bring high-quality fashion to the market. ChromaWay, with its headquarters in Stockholm, is the foremost creator of innovative Web3 technologies and utilizes relational databases on its Chromia network. Los Angeles-based COMUNITYmade pioneers on-shoring supply chain solutions that prioritize sustainability through local manufacturing and distribution.
Commenting on the recent partnership, Co-Founder and President Shannon Scott said, “COMUNITYmade has built the first of its kind complete on-shore/near-shore footwear supply chain. Local production allows us to do what others can’t. We believe the model is also extensible to other countries outside of the US that can also develop on-shore networks. We are also excited about the opportunity to explore the innovation of combining physical products with a digital footprint.”
Joel Satin, Head of Commercial Development at ChromaWay, added, “We are very excited and aligned with COMUNITYmade’s vision about the power of local, decentralized networks to solve problems that have plagued the fashion industry for decades. Blockchain technology provides brands with the means to communicate ESG policies and practices that are becoming increasingly more important in consumer decision-making.
This strategic cooperation aims to improve supply chain transparency, interoperability, and data exchange by incorporating Web3 technologies into the COMUNITYmade platform. ChromaWay’s technology in particular is based on traditional relational databases and can index and cross-reference complex and high-volume entries, making it essential for supply chains. Blockchain technology is transparent and immutable, providing a clear record and history for items.
Shannon and Sean Scott, co-founders of COMUNITYmade, are seasoned industry veterans with former leadership positions at ASICS, TOMS, Nike, and Vans. These implementations focus primarily on the footwear industry. ChromaWay has extensive experience in combining technology, fashion, and the blockchain technology. ChromaWay introduced the concept of Connected Fashion with BLK DNM, their flagship initiative to enhance the fashion industry’s connectivity, collaboration, community, and transparency.
Leveraging their industry expertise, COMUNITYMade has designed a solution to address the excessive reliance on Asian manufacturing, lengthy lead times and associated inventory risk, the large carbon footprint, and rising costs based on its extensive industry experience. The solution concentrates on the expansion of a national decentralized network of retail/manufacturing hubs connected via innovative Web3 technology created by ChromaWay.
About ChromaWay
ChromaWay is a thriving company in blockchain technology and specializes in developing and deploying innovative, scalable blockchain solutions for both businesses and governments. Chromaway, established in 2014, has its headquarters in Stockholm, Sweden, and it has been at the forefront of driving the widespread adoption of blockchain technology. Its primary product, relational blockchain Chromia, enables developers to create decentralized applications (dApps) utilizing a relational database model that provides unprecedented scalability and flexibility.
About COMUNITYmade
COMUNITYmade, started by footwear industry experts Sean Scott and Shannon Scott, is a leader in on-shoring supply chain solutions that prioritize sustainability through local production and distribution. COMUNITYmade provides ready-made and customized footwear for individuals and design, development, and production services for small and large brands under their private labels.
For more information about the project, contact:
For more information about this press release, contact:
Headquarters:
COMUNITYMade
584 Mateo Street
Los Angeles, CA 90013, USA
ChromaWay AB
Centralplan 15
S-111 64 Stockholm, Sweden
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