Dragonchain Works with Yok Impex to Improve Textile Recycling and Traceability
Recycling processes improved with blockchain.
Yok Impex owns 80% of the textile recycling market share in Singapore and is using its resources to end the long-standing problem of overstock in the fashion industry. Dragonchain will support Yok Impex with blockchain-based services and the capabilities of its platform, adding transparency and traceability to the textile recycling process.
Yok Impex is also one of the partners supporting the M2030 initiative by committing a percentage of its revenue to eliminate malaria. Dragonchain will track these donations via blockchain, allowing M2030 partners to see how their contributions are used and ensure that funds reach their intended recipients.
“Our family-owned business has operated in Singapore and other parts of Asia for a long time. We believe that working with Dragonchain will allow us to do good and become more profitable through digital transformation,” said Sikwee Peh, director of Yok Impex. “Our goal is to expand into the UAE and Africa. Dubai Future Blockchain Summit has opened our eyes to the adoption of blockchain across all industries here in the UAE.”