Blockchain of Fashion
Blockchain Fashion Week Concept Unveiled in Riga
Today, Blockchain Fashion Week went international with leading proponents of the concept presenting it in the Latvian capital as part of Riga Fashion Week which runs until March 23
Anna Karenina designer behind the label Anna K, Blockcahin Fashion Week founder Kazbek Bektursunov and Eddie Mullon founder of Fashion GPS and Launchmetrics were on hand to speak at a conference about how blockchain can revolutionize the fashion industry both now and into the future
Karenina is the brains behind Fashion Coin a soon to be released cryptocurrency that she and her backers envisage as being a new fashion ecosystem that will surpass the outdated model of the industry at present and create new opportunity for all stakeholders at every level – from designers, to production, to the end-user – consumers.

Mullon spoke of the challenges faced by the industry as it stands. The need to accelerate interactions between all involved parties and for campaigns to be more and more competitive, how to increase profitability in the wake of stagnant sales, how to navigate the world of influencer sales, understanding 'big data' and how to use it, and measuring the return on investment from events, campaigns and more. He spoke about the mechanics of Fashion GPS and how these tools apply in reality to the fashion industry such as a free virtual newsroom for all brands to have the ability to connect with a global audience numbering in the 10s of thousands.

Kazbek Bektursunov (LMG Group, Blockchain Fashion Week) talked about the potential for the Fashion Coin Ecosystem project to make vertical communication in the fashion world obsolete. With the new ecosystem fed and provided for by the first cryptocurrency, created specifically for the fashion market, which will always be backed by an actual product - Fashion Coin.

The ecosystem proposed includes the following features; a multi-brand platform where buying in Fashion Coin will be cheaper by 15-50%, opportunities for micro-investment in designers, where the investor is a visitor to the show, and a unique social platform, where activity means income.

Karenina spoke of how the success of her Anna K brand had led to her being listed as one of the Forbes '30 under 30' for Europe and how she has had first nodded at the idea of a specific fashion-focused cryptocurrency in her SS'18 fashion collection.
It is a pattern she followed into her next collection ahead of the launch of her own cryptocurrency – Fashion Coin.