blockchain — Merian Ventures

How Provenance’s Transparency Framework helps beauty brands communicate product impact

The beauty industry isn’t good at opening up when it comes to ingredients and impact. But the ‘values shopper’ cohort is growing, and brands need to step up to meet their expectations. Supply chain transparency is a difficult issue for brands.

Provenance, a Merian Ventures portfolio company, believes every product should come with accessible, trustworthy information about origin, journey and impact. Through Provenance’s Transparency Framework, we’re helping beauty brands deliver exactly this.

Photo by Christin Hume on Unsplash

Can blockchain solve the beauty industry’s trust issues?

An urgent new focus for the beauty industry is transparency. Claims to be cruelty-free, clean and 100 per cent natural are rampant in beauty. Offering data to back it up could be a good start. But transparency is harder to demonstrate to the consumer than it might sound. Amid growing scrutiny, beauty brands are turning to blockchain, such as that offered by Provenance.org, a Merian Ventures portfolio company, to help boost consumer confidence

Unilever is using geolocation data and satellite imagery to check for deforestation in its supply chain

“Napolina wanted to communicate information and reassure shoppers about its canned tomatoes, especially in light of investigations into exploitation of migrant agriculture workers in Italy. It has worked with Provenance, a Merian Ventures portfolio company, to provide QR codes on cans linking to sourcing details and the product’s journey from farming co-operative to grocery store.”

Provenance Wins 1 Million Euro Prize from the European Commission for ‘Blockchains for Social Good’

The European Innovation Council (EIC) Prize on Blockchains for Social Good has awarded €5 million to six winners selected in a call to identify scalable, deployable and high-impact blockchain solutions for societal challenges. The winning solutions propose blockchain applications for fair trade and circular economy, increasing transparency in production processes and quality information, improving accountability and contributing to financial inclusion and renewable energy.

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