Transforming the Beauty Industry with Blockchain Technology

Asia Blockchain Review
January 14, 2020

Blockchain technology may offer a solution for consumers to determine whether the claims made by cosmetics manufacturers are factual and drive the beauty industry to become more accountable for its products.

Addressing False Claims with Blockchain

According to Glamour Magazine, a survey that polled more than 20,000 Cult Beauty customers revealed that a concern among buyers is the transparency of beauty products.

Today, manufacturers are making a variety of claims for products such as ‘vegan’, ‘cruelty-free’ and ‘coral reef-safe’, labels that are difficult to verify for the average consumer.

However, blockchain technology could present a solution to the issue, with players in the beauty industry already implementing blockchain solutions on their platform. 

For example, online retailer Cult Beauty has been working with developer Provenance to promote transparency for beauty products. 

“Transparency has always been at the heart of Cult Beauty; in fact, our whole raison d’etre was a reaction against the pseudoscientific marketing mirages that drove the beauty industry at the time. We are always looking for ways to empower our customers with the information they need,” said Alexia Inge, Co-Founder of Cult Beauty.

Combining Blockchain with Open Data to Ensure Transparency

According to Cult Beauty, Provenance has developed a platform that uses blockchain and open data technology to share information about beauty products. For example, for brands that label their cosmetics as ‘vegan’, Cult Beauty will provide the definition of the ‘vegan’ labeling while offering supporting documentation such as lab test results.

Cult Beauty revealed that with this platform, customers gain a “much more transparent shopping experience” with currently almost a dozen brands participating in the blockchain-enabled initiative.

Source: https://www.glamourmagazine.co.uk


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

    Related Article
    Covid-19 is A Wake Up Call: Infinity Blockchain Labs Taiwan Explains
    Get more insights on the bandwagon of adapting towards the future technology of transparency to trac...

    May 29, 2020

    Transparency and Traceability of the Future Technology
    ABR recently had a chat with Steve Nam, the Managing Director of WOWTRACE on authenticity and transp...

    May 29, 2020

    C-LOG Is Charting Its Own Course Ahead
    We recently sat down with Kristina Lynge, CEO & Founder, C-LOG for a conversation on things so far. ...

    May 28, 2020

    MAHSA University on Blockchain: Exclusive Interview with Dr Saad Musbah
    ABR recently spoke to the Head of Student Central and Senior Lecturer at MAHSA University, Dr. Saad ...

    May 27, 2020

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us