, the legislation around brands being allowed to make certain claims isn’t as tight as you might hope. So what can be done to make shopping for beauty more transparent? Enter blockchain.
If you’re clued up on Bitcoin and other types of cryptocurrency , you might have heard of blockchain before. But, for ease, we’re going to go ahead and assume that, much like us this time last week, you’ve never heard the term ‘blockchain’ uttered by anyone in your life – let alone know what it is. In short, it’s a techy system that maintains a record of all transactions made using a certain cryptocurrency. Sounds fun, right? Most importantly, a blockchain is incorruptible – kind of like a digital ledger. Luckily, we don’t need to know the ins and outs of how the technology works to understand the ways in which it could help revolutionise how we shop for beauty. It makes for a super trustworthy way of verifying information from a brand and its supply chain.
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