Luis Vuitton and ConsenSys Developing Blockchain Platform to Track Luxury Goods

The latest use case has been presented by luxury brand Luis Vuitton and Christian Dior, as they show the world how to track the authenticity of luxury goods over blockchain In a new project developed under the joint partnership of ConsenSys, Microsoft and Luis Vuitton a new platform is being developed to keep track of every important development in the supply chain life of luxury products The platform has been named AURA, and according to the consortium developing it, the plan is to make it available for the entire luxury industry once it has been developed.

Luis Vuitton and its sister brand Christian Dior already taking part in the project, and their parent company LVMH is also working on bringing other luxury brands on-board "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 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 launched more than three years ago." ConsenSys is developing it, and Ken Timsit, the MD of ConsenSys Solutions, feels that the platform can go a long way in protecting the interests of every luxury brand "AURA is a groundbreaking innovation for the luxury industry ConsenSys is 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 decentralized way". Source