French luxury brand giant LVMH, owner of the Louis Vuitton label, is working with ConsenSys and Microsoft Azure to develop a blockchain platform that proves the authenticity of high-priced goods.
This is based on JPMorgan’s Quorum offering, which runs on the Ethereum blockchain. According to a CoinDesk report, the project is code-named AURA and is set to go live in May or June with Louis Vuitton and another LVMH brand, Parfums Christian Dior. It will then be extended to the company’s other 60-plus brands and eventually those of its competitors.
At a later stage, the tech will be used to explore the protection of creative intellectual property, as well as exclusive offers, events for customers and anti-advertising fraud.