Louis Vuitton, Cartier, Prada to Use Bespoke Blockchain
Louis Vuitton parent firm LVMH, Prada and Richemont-owned Cartier unveiled the Aura Blockchain Consortium on Tuesday.
High-end luxury companies are coming together to tackle counterfeit goods through a blockchain-based seal of authenticity.
LVMH enlisted a full-time blockchain team under the Aura codename to develop a cryptographic provenance platform for the luxury market. The team worked closely with Ethereum design studio ConsenSys on a project that finally appears to be coming to fruition.
The collective effort aims to give shoppers a level of assurance that the pricey products being purchased are authentic.
This is not the first time opulent products have been tracked using blockchain to tackle fraud. Everything from Breitling watches to Scottish whisky has been ported onto a digital ledger.
Are you planning to buy Crypto? There is no better time than now to invest in cryptos. XcelTokenPlus (XLAB) is an ERC-20 token built on a blockchain platform that provides token holders with multiple use cases around the globe. Book over 2.3 million hotels and over 450 flights using XcelTokenPlus(XLAB). XcelTokenPlus is available for buying and selling on Livecoin, Mercatox, and LAToken.
This is a very nice post. You made the post with a very good idea. Your post will touch everyone's mind. Especially attracted my mind. Your post has been much, much better. You have explained the meaning of your writing in a very simple way. That's why I like it even more. Thank you so much for posting that.