Blockchain technology continues to disrupt sectors across the world and the supply chain isn’t left out of these new changes.
Coronet Blockchain an emerging technology solution is reshaping the future of the hair exchange supply chain across Africa’s ZAR 100 billion per year sector.
Co-founded by Pretty Kubyane, Coronet Blockchain is deploying an emerging technology rollout to impact the human hair extensions industry across the global supply chain spanning India, Italy, Brazil, US, Africa etc.
For over fifteen years, Pretty has demonstrated a significant impact on investment advisory track-record with active projects experience across Government and FDI.
She has also demonstrated sustainability capabilities that ensure operations profitability, workflow ergonomics, team harmony, projects delivery outputs, accounts management capabilities, accurate interpretation of client expectations and project management deliverables on targets and within assigned budgetary framework across enterprise partnerships.
In this chat with Pretty, blockbuild.africa learnt how she transitioned from management to blockchain following her over 7 year involvement across the beauty sectoral assignments.
From Management consulting to blockchain, tell us about this journey?
My early business experience date back to childhood. From the age of 6, I was already working for a family venture where my father was in wood cutting business, supplying wood to local commercial catering companies.
Then later I worked for Corporate Social investments entities before later working as a management consultant.
It was during this time that my co-Founder’s ex-colleague from Deloitte approached us.
She had started a hair extension business with just $500 and it was now growing, she wanted us to put systems in place in order to formalize and scale the business.
Fast-forward 36 months later we scaled her business into 4 branches, 40 full-time staff, and $2 million a year revenue.
We received an overwhelming request from brands across Africa wanting the same success story.
Knowing that they all had similar pain points, we soon realized that we needed to produce the same transformation at scale and we needed a solution that can deliver industry-wide transformation.
During dinner with a family friend who is with IBM, he told us that blockchain was a glove-fit solution.
We discussed it with the IBM investment committee: who gave us seed capital to build the solution and a second funding tranche during COVID, to complete it.
Tell us about Coronet Blockchain?
Coronet Blockchain is a B2B2C Marketplace that provides blockchain vetted human hair extensions & hair care products to African salons & retailers from ethical global manufacturers at lower sourcing costs.
Our solution is re-applicable to other supply chains and now being adapted into food security and Africa Continental Free Trade Agreement (AfCFTA) priorities, to deal with supply chain inequalities in cocoa farming & coffee, etc.
How blockchain technology can impact supply chain?
Specifically, with Coronet Blockchain there are a number of points of impact i.e. Costs: Our Salon and retail network save on sourcing costs.
It is impossible, without Coronet, for salons to fully address the burden of trust around the quality of the product.
Since salons are uncomfortable to pay “a stranger”, a supplier based in China, India or elsewhere, that they’ve never met.
They travel, a costly affair to source products. With Coronet: the salons and retailers no longer need to travel, we bring the vetted hair supplies to them.
With your involvement in the beauty sector, how do you think blockchain can have an impact on the African beauty industry?
A common word in our company is Prosumer: meaning an individual who both consumes and produces.
Blockchain lowers the barriers to entry for more African consumers to become producers or traders, to participate more and gain better value in the supply chain.
Some are starting side hustles selling hair on the side, thanks to our vetted hair products, giving them peace of mind.
How can more women participate in disruptive technologies like blockchain?
Currently, there’s only 1% female participation in blockchain leadership positions. With that being said we need more female-led blockchain solutions or companies.
Secondly: women have to design more blockchain solutions and last but not least, women-owned businesses can belong to blockchain-based ecosystems.
Featured Image: Pretty Kubyane, Co-founder, Coronet Blockchain
Dont miss important articles during the week. Subscribe to blockbuild weekly digest for updates.