An attempt to pass off a lie as truth would be much more damaging to a company's reputation than would be just not addressing an issue. By addressing the issue and introducing a channel for transparency, the company is demonstrating that they are willing to put their reputation on the line.
I would agree that as a regulatory measure, this would not solve any problem. But as a self-imposed measure, it builds consumer trust.
Indeed
> What a blockchain could enable is honest transparency.
Wat?
> An attempt to pass off a lie as truth would be much more damaging to a company's reputation than would be just not addressing an issue.
Do you perhaps live in reality? When was the last time "reputation" of a company was in any way shape or form damaged by any lies?
> I would agree that as a regulatory measure, this would not solve any problem. But as a self-imposed measure, it builds consumer trust.
Indeed, it solves no problems except imaginary ones from the land of fairy tales.
For example, international conglomerate using exclusively slave labor inputs "these bananas are small farmers fair trade bananas" into blockchain.
That's it. That is the "transparency".