LOUIS VUITTON AND CHRISTIAN DIOR ADOPTS BLOCKCHAIN TO VERIFY LUXURY GOODS

May 16,2019 at 08:19 pm




2019 in no doubt is the year of blockchain revolution. There's been so much increase in the number of blockchain startups and its adoption is becoming alarming. According to a news release on May 16, ConsenSys has teamed up with LVMH and Microsoft to build a blockchain-powered platform that allows consumers to verify the authenticity of luxury goods.

The consortium says the system, known as Aura, is designed to “serve the entire luxury industry with powerful product tracking and tracing services.”



LVMH brands including Louis Vuitton and Christian Dior are already involved in the project — and discussions are underway to extend Aura to other high-end names within the group. The news release added:
“AURA makes it possible for consumers to access the product history and proof of authenticity of luxury goods — from raw materials to the point of sale, all the way to second-hand markets.”


The team behind Aura hope it will eventually be used by rival luxury brands too, enabling them to offer a tailor-made service or strengthen customer loyalty. Ken Timsit, managing director of ConsenSys Solutions, added:



“AURA is a ground-breaking innovation for the luxury industry. ConsenSys is proud to contribute and to work with LVMH on an initiative that will serve the entire luxury industry, protecting the interests, integrity, and privacy of each brand.”

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