She believes it can, helping retailers, designers and consumers become more socially conscious.
As Gherbi tells it, fashion is one of the worst players when it comes to corporate social responsibility – in fact, it the second most polluting industry in the world.
Where does blockchain provide the solution? Emerging from the global financial crisis of 2008 came the name behind Bitcoin and the associated blockchain technology Satoshi Nakamoto. "Blockchain is going to change so many things," she says. "We should look at it on a broad scale and how it is going to change the world…next to the internet I think blockchain is going to bring a huge disrupt. An empathy approach to leadership and consumption is the future too and I think blockchain is going to allow for that.
The Caring Equation
Transparency + Traceability + Responsibility = CARING INDUSTRIES!?
Fashion plus blockchain will lead to what Gherbi terms as "Fashtech". The three elements she describes in the "Caring Equation" as the "storytelling" meaning people wanting to know exactly where a product is sourced from and how it got to the end user. It taps into a growing mood in society, where people want to embrace these core factors. "People don't care if the T-shirt costs $5 and, you know, it ruined a river or people are working in factories in horrible conditions, as long as it's $5, they don't care. And OK there's maybe a group of people that feel that way still, they just want the bottom line…but I feel like humanity is evolving towards a more question mark approach where we really want to find out who cares?"
The customer and storytelling is the way blockchain is going to transform the experience "for fashionistas and consumers", she says.