Sourcery Launches Revolutionary Programme For Cotton Transparency
Sourcery has unveiled its Impact and Assurance Programme, a pioneering solution for primary data collection, aimed at revolutionizing transparency and trust in the cotton value chain. This initiative, facilitated through the Sourcery Connect App developed with Bluenumber®, offers harmonized regional-specific and third-party verified primary data, empowering growers, grower organizations, and manufacturers. By leveraging data ownership and sovereignty, Sourcery aims to enhance the authenticity of fiber origin, ensure compliance with regulations, and meet the evolving demands of stakeholders in an era of heightened scrutiny and environmental challenges.
The Programme, an integral part of Sourcery’s Direct-to-Grower™ initiative, will be rolled out globally over three years, promising to transform trade practices for the better. It seeks to strengthen the resilience of growers and manufacturers while increasing the value of cotton products through recognition and rewards for exemplary commercial, social, and environmental performance. Moreover, by providing a platform for growers and manufacturers to monetize their data, the Programme aims to overcome commercial cost challenges and drive impactful change across the textile value chain.
Crispin Argento, Sourcery’s Global Managing Director, emphasized the value of data ownership and sovereignty in driving equitable and meaningful impact. The Sourcery Connect App, powered by Bluenumber® technology, serves as the digital hub of the Programme, enabling seamless collaboration and trust among stakeholders. With its self-sovereign identity (SSID) and verifiable credentials, the app ensures transparency and traceability from growers to manufacturers, facilitating data-driven decision-making and trade interactions.
Puvan J. Selvanathan, Founder and CEO of Bluenumber, highlighted the app’s role in fostering trusted engagement and facilitating transactions while safeguarding data privacy and security. Leveraging digital identity and credentials, the Sourcery Connect App enables transparent and fair trade practices, overcoming barriers in product claim frameworks and establishing a chain-of-custody solution from farm to gin.
The Impact and Assurance Programme signifies a significant step towards Sourcery’s vision of transforming trade for good and fostering collaboration and investment in the future of cotton. By building a digital trade marketplace, Sourcery aims to decouple trade from traditional commodity exchanges, fostering a more transparent, fair, and efficient trading ecosystem.
To learn more about the Programme, participants are invited to join the Sourcery Impact and Assurance Programme Launch Webinar on April 11, 2024, at either 2 pm IST (9.30 am CET) or 11 am IST (5 pm CET).
You can register for the Introductory Webinar, titled “Get Primary Data that is Accurate, Secure and Equitable”, here: https://www.thesourcery.io/impact-assurance-programme/webinar
