Selyn Exporters partners global blockchain experts PaperTale for radical transparency solutions

Wednesday, 6 July 2022 00:00 - - {{hitsCtrl.values.hits}}

In the midst of the current socioeconomic situation the outlook for many manufacturers, fashion and textile producers along with artisans and handloom sectors look bleak. With rising costs and challenges for import/export a great deal of uncertainty and instability has entered the market.

Selyn Exporters, a veteran player in Sri Lanka’s handloom industry powered by “USAID Catalyze” COVID recovery funding for SMEs, looked to blockchain integration as a core solution for increased pricing, transparency and positive impact. Partnering with leading global blockchain solutions provider PaperTale, this partnership lays the foundation for a dynamic shift in the market and “first” for Sri Lanka.

The visiting PaperTale CEO Bilal Bhatti said: “Sri Lanka has long been recognised as a hub for textile and garment manufacturing and we’re excited to be partnering and supporting Selyn, a leading ethical manufacturer that can truly capture the essence and power of radical transparency with blockchain technology.”

Whilst most block chain projects focus only on the traceability of materials across the supply chain, “radical transparency” brings people into the picture as well and connects art with the craft. Selyn Director and Head of Business Development Selyna Peiris said: “The path to blockchain integration and using it to evolve business and supply chain practices is a total shift in approach and mindset. We’re on a path to further consolidate our social business model by exploring what ‘radical transparency’ can provide to all those in the supply chain, from weavers to consumers back to the manufacturers.

“We are excited and honoured to have PaperTale CEO Bilal Bhatti visit Sri Lanka, especially in a time like we’re in, it’s a positive sign that we need to think and act outside the box with like-minded global partners.”