Ethereum and Microsoft Technology to Power Blockchain Platform for Louis Vuitton, Christian Dior and Top Luxury Brands
Ethereum development studio ConsenSys and tech giant Microsoft are teaming up with Louis Vuitton SE as technology partners to build blockchain platform AURA. The new platform allows customers to check trace and track the production of luxury goods from raw materials to the point of sale, all the way to second-hand markets.
With AURA, customers can learn about a product’s history and verify the authenticity of brands under Louis Vuitton SE, also known as LVMH, a French multinational luxury goods conglomerate headquartered in Paris.
According to ConsenSys,
“During production, each product is recorded on the shared ledger ,irreproducible and containing unique information. At the time of purchase, a consumer can use the brand’s application to receive the AURA certificate containing all product information.”
The industry-wide platform will be powered by Ethereum.
“For this particular alliance of brands and technology partners, the AURA team chose to implement a consortium model, where any luxury brand can become a full member. This model ensures that the possibilities of the technology can be made accessible to all, while maintaining the flexibility to address the specific needs of each luxury brand.”
The partnership integrates Ethereum’s enterprise blockchain solution Quorum using Microsoft Azure’s cloud technology. Discussions are underway for more luxury brands to join the consortium and utilize the platform.
“Several brands of the LVMH Group, such as Louis Vuitton and Parfums Christian Dior, are currently involved, and advanced discussions are underway to onboard additional brands from the LVMH Group, and other luxury groups globally. For Louis Vuitton, the development of the AURA project is the culmination of the traceability program (Track & Trace) launched more than three years ago.”
LVMH subsidiaries include Marc Jacobs, Hublot, TAG Heuer, Bulgari, Givenchy Parfums, Sephora, Dom Pérignon and Hennessy.