<p>The World Economic Forum on Thursday launched the first-ever public blockchain-based platform built to help businesses across industries respond to consumer demands for ethical and environmentally friendly products.</p>.<p>It would be a neutral and safe space for collaboration provided by the World Economic Forum (WEF) and first-movers Everledger, the International Trade Centre (ITC) and Lenzing Group, the Geneva-based organisation said during its 50th annual meeting here.</p>.<p>Joining the open call to pilot and co-design the second phase will be Asia Pacific Rayon (APR), EVRYTHNG and PlataformaVerde.</p>.<p>The WEF said consumers today are more concerned than ever about the social and environmental impacts of the products they purchase.</p>.<p>Almost 90 per cent would like big brands to help them be more environmentally friendly and ethical.</p>.<p>While blockchain technology offers a way to showcase sustainability and environmentally friendly practices, private blockchains do not address rising customer transparency demands, it added.</p>.<p>To date, companies have self-published such data or relied on blockchain solution providers to do so. The pilot platform resulting from this initiative, however, can ingest blockchain-based data from multiple sources and visualise it on a neutral site.</p>
<p>The World Economic Forum on Thursday launched the first-ever public blockchain-based platform built to help businesses across industries respond to consumer demands for ethical and environmentally friendly products.</p>.<p>It would be a neutral and safe space for collaboration provided by the World Economic Forum (WEF) and first-movers Everledger, the International Trade Centre (ITC) and Lenzing Group, the Geneva-based organisation said during its 50th annual meeting here.</p>.<p>Joining the open call to pilot and co-design the second phase will be Asia Pacific Rayon (APR), EVRYTHNG and PlataformaVerde.</p>.<p>The WEF said consumers today are more concerned than ever about the social and environmental impacts of the products they purchase.</p>.<p>Almost 90 per cent would like big brands to help them be more environmentally friendly and ethical.</p>.<p>While blockchain technology offers a way to showcase sustainability and environmentally friendly practices, private blockchains do not address rising customer transparency demands, it added.</p>.<p>To date, companies have self-published such data or relied on blockchain solution providers to do so. The pilot platform resulting from this initiative, however, can ingest blockchain-based data from multiple sources and visualise it on a neutral site.</p>