Home ยป LVMH to Use Blockchain for Tracking High-Priced Goods

LVMH to Use Blockchain for Tracking High-Priced Goods

The world leader in luxury LVMH, owner of the Louis Vuitton label, is about to launch a blockchain platform for tracking of high-priced goods.
news - LVMH to Use Blockchain for Tracking High-Priced Goods

The world leader in luxury LVMH, owner of the Louis Vuitton label, is about to launch a blockchain platform for tracking of high-priced goods.

It is expected, Louis Vuitton and another LVMH brand, Parfums Christian Dior will launch the cryptographic platform dubbed AURA in May or June. The service will be extended to LVMH ‘s other 60-plus luxury brands over time.

news - LVMH to Use Blockchain for Tracking High-Priced Goods

The blockchain platform will trace luxury items from raw materials to point of sale providing its proof of authenticity. The next phase of the platform will explore protection of creative intellectual property, exclusive offers and events for each brands’ customers, as well as anti-ad fraud.

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AURA has been built using a permissioned version of the Ethereum blockchain called Quorum, which is focused on data privacy and was developed by JPMorgan.

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