Louis Vuitton’s conglomerate bringing Ethereum-based blockchain technology to luxury fashion

2019-5-18 18:34

ConsenSys entered into a partnership with LVMH and Microsoft to launch a new blockchain platform tailored for the luxury industry. The consortium, named AURA, will be based on Ethereum blockchain technology and utilize Microsoft’s Azure platform and enable customers to prove the authenticity of their goods.

Blockchain penetrates the luxury fashion industry

Two of the biggest players in tech, one in blockchain, the other in software, have partnered with LVMH, the biggest luxury goods conglomerates in the world, to bring blockchain technology to the luxury industry.

In a press release shared with CryptoSlate, ConsenSys and Microsoft announced AURA, a platform that aims to serve the entire luxury industry with powerful product tracking and tracing services. The platform will be based on the Ethereum blockchain and utilize Azure, Microsoft’s cloud computing platform.

Several brands of the LVMH Group, such as Louis Vuitton and Parfums Christian Dior, the perfumes and cosmetics subsidiary of LVMH, are currently involved, ConsenSys said in the press release. Advanced discussions to onboard additional brands from the LVMH group and other luxury groups are currently underway, the released added.

Tracking goods and proving the authenticity with blockchain

The AURA project is the culmination of Louis Vuitton’s Track&Trace program launched more than three years ago and will see its implementation in various other companies. LVMH prides itself on the production cycle of its goods, which can now be tracked start to finish with blockchain technology. During production, each product will be recorded on the ledger. The end consumer will be able to use the brand’s application to redeem the AURA certificate of bought goods and while verifying the authenticity of products.

“[Aura 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,” Ken Timsit, managing director of ConsenSys Solutions, said.

Implementing a consortium model to AURA will enable any luxury brand to become a full member, which will ensure that the possibilities of the technology will be equally accessible and flexible to all, the company explained.

The post Louis Vuitton’s conglomerate bringing Ethereum-based blockchain technology to luxury fashion appeared first on CryptoSlate.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

High Performance Blockchain (HPB) на Currencies.ru

$ 0.0100291 (+7.61%)
Объем 24H $25.057k
Изменеия 24h: 5.20 %, 7d: 30.40 %
Cегодня L: $0.0090557 - H: $0.0100291
Капитализация $732.823k Rank 1812
Цена в час новости $ 0.4273 (-97.65%)

blockchain luxury fashion technology vuitton ethereum-based microsoft

Источник: cryptoslate.com

blockchain luxury → Результатов: 64


Decentralized Crypto Exchange Trade.io Starts Promotional Campaign With a $100,000 Luxury World Tour as Prize

Trade.io is a crypto exchange that has been designed to provide an efficient, fair and safe marketplace for the trading of digital crypto assets. Based on blockchain, the platform banks on the immensely high speed, security and low cost of operations to provide services that outpace even the best exchanges today. Disclosure: This is a […]

2018-6-29 16:30


дальше еще 15 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Microsoft unveils new AI chip ‘Maia’ in collaboration with OpenAI

Microsoft has unveiled a new chip that is intended for use in artificial intelligence (AI) applications in a news post published on Nov. 15. The company said that it unveiled the chip, named the Azure Maia 100 AI Accelerator, at its Microsoft Ignite conference on the same day.