Home / Knowledge / News / Textiles / OrganiMark, Sweetbridge to finance sustainable cotton

OrganiMark, Sweetbridge to finance sustainable cotton

06
Dec '18
OrganiMark, Sweetbridge to finance sustainable cotton
OrganiMark, a leading value chain engineering and category management company, will work with Sweetbridge to deliver trade financing for Sustainable Cotton in a best practice platform for integrated value chain management. Sweetbridge and OrganiMark provide a $20 mn deal structure to finance the integrated value chains they support in South Africa.

Sweetbridge is an open source second layer blockchain-based financial system that utilises a triple entry accounting protocol to provide continuous assurance and real time audit of accounting treatments and financial statements. Sweetbridge’s foundational protocols will provide cheaper cost of capital, near instant payments, reduced error rates whilst making any type of fraud all but impossible, for the entire value chain including major retail brands.

Not only do the Sweetbridge protocols enable OrganiMark to connect the economics of the farmer with the opportunities of global brands, but this solution will also act as a driver for businesses within the cotton value chain to engage more effectively in delivering the UN’s Sustainable Development Goals (SDGs).

The SDGs propose a new development pathway based on partnerships between governments, civil society, and businesses, with the aim of transforming our societies. Since conception however, barriers to business engagement have been identified, including lack of visibility, no data or incentives creating a viable business case for their delivery. The combination of OrganiMark’s Integrated Value Chain business model and Sweetbridge’s blockchain solution addresses these, bringing a lower risk and thus lower cost of capital to good actors using tokenized assets and incentives to reward the right behaviours from the start of the value chain right through to the consumer.

"Sweetbridge offers a better solution at a lower cost than traditional finance institutions, which is what caught our attention immediately. It brings the benefit of crypto-economics and blockchain, combined with a global go-to marketing strategy, that we believe will not only boost our best practice delivery in South Africa, but across the globe, and will enable us to deliver the services our clients are looking for at scale in our core business of cotton but also in other commodities in the future," Heinrich Schultz, CEO of OrganiMark, said.

"OrganiMark’s integrated value chain programme and supporting platform are unique in their ability to deliver forensic level of traceability across an entire industry from resource to retail. The world-class services of sustainable category management, supply chain optimisation and finance that they already deliver blend very well with our business and offer an excellent use case for us to be able to prove out the wide-ranging impacts of our protocols across every tier of an extremely complex and important global value chain," Scott Nelson, CEO & chairman of Sweetbridge, said. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 12th May 2021

Economic recovery under threat amid surging COVID cases: UN

While the global growth outlook has improved, led by robust rebound...

Pic: Shutterstock

Textiles | On 12th May 2021

Uzbekistan exported textile products worth $637.7 million in Q1 2021

Uzbekistan exported textile products worth $637.7 million to 54...

Pic: Woolworths Holdings Limited

Retail | On 12th May 2021

South African retailer Woolworths posts Q3 FY21 sales of R16.5 bn

Woolworths Holdings Limited (WHL), a South African retail company,...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Textile Industry, Head honchos

Textile Industry
Head honchos

Wearables have very limited reach

Textile Industry, Head honchos

Textile Industry
Head honchos

Increased need for online fitting solutions as retailers shift to...

Raiyan Islam,

Raiyan Islam

Founded in 1981 by Sayeeful Islam, Concorde Garments Group is a market...

Shambhu Nath Jha,

Shambhu Nath Jha

Leading research and consulting firm Fact.MR recently launched a report on ...

Sanjay Vakharia,

Sanjay Vakharia

One of the first few Indian denim brands, Spykar, established in 1992, was ...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search