These include Christian Dior, Givenchy, Celine, Hublot, and Louis Vuitton. Their new platform, namely AURA, is the product of Microsoft’s cloud computing system ‘Azure’ and Ethereum’s design studio ‘ConsenSys’.
High fashion has always struggled with counterfeiting issues, especially in Europe. By introducing blockchain to the fashion world LVMH aims to eliminate counterfeiters and assure the authenticity of its products. LVMH will roll out its blockchain platform to Christian Dior and Louis Vuitton in May-June 2019 before applying it to its roster of other luxury goods.
LVMH is anticipated to open up their new platform to competitors, who can be a shareholder of AURA. This is not the first time that the luxury goods have looked to the technology for answers. Arianee is also a blockchain startup that styles itself in the form of a ‘digital identity’ standard for high-worth items, according to BTC Wires.
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