Secoo also launched the blockchain, and applied this new technology on specific luxury items sold on Secoo’s platform.
After the authentication, every item can contain anti-counterfeiting information and Secoo will upload the information to the blockchain system for storage.
At the press conference, Ren also illustrated the steps to use the blockchain to achieve the traceability with product name, colour, size, authentication information and blockchain information.
He also stated that Secoo is the first company to launch a luxury blockchain in the industry.
In the future, Secoo will use the blockchain in more commodity categories and seek more cooperation and partnerships to jointly improve the luxury industry.

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