Louis Vuitton owner announces blockchain powered luxury goods platform
ConsenSys has teamed with LVMH and Microsoft to build a platform, dubbed Aura, that allows consumers to verify the authenticity of luxury goods, based on Ethereum blockchain tech and tapping Microsoft Azure.
LVMH brands including Louis Vuitton and Christian Dior are involved in the project and discussions are underway to onboard more from the group along with other luxury ventures. According to a press release: “Aura makes it possible for consumers to access the product history and proof of authenticity of luxury goods — from raw materials to the point of sale, all the way to second-hand markets.”
Ken Timsit, Managing Director of ConsenSys Solutions, comments: “Aura is a groundbreaking innovation for the luxury industry. We are 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, leveraging Ethereum blockchain technology in a truly decentralised way.”