HARVARD AND LEVI’S USE BLOCKCHAIN TO GUARANTEE COMPLIANCE WITH SAFETY STANDARDS IN FACTORIES

Harvard University and clothing manufacturer Levi Strauss jointly test blockchain-based platform to audit safety standards at the factories.

The companies announced the testing of the blockchain- based platform for verification of compliance with safety standards at the factories. The pilot project will involve three factories in Mexico, employing 5,000 people. Testing will take place on the basis of ConsenSys development.

The objective of the project is to create a reliable register of data on the health and safety of employees, as well as to remove the chain of inconsistencies associated with the usual audit. If the project is successful, the number of factories will be expanded.

In October last year, it became known that universities help not only with the introduction of blockchain technologies, but also invest in the crypto market themselves: at least five of the world’s largest universities have invested in cryptocurrency funds — including Harvard, Stanford and the Massachusetts Institute of technology.