The world leader in luxury LVMH, owner of the Louis Vuitton label, is about adoption blockchain technology and DLT for traceability and large-scale product authentication in Italy.
The French luxury giant should introduce blockchain network for the authentication of its products, dubbed Aura, that will initially be reserved for the Louis Vuitton and Perfumes Christian Dior brands. In the future, the platform will be extended to all other brands controlled by the group.
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.
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.