The luxury goods maker LVMH, the company behind the luxury brand Louis Vuitton has adopted blockchain technology to ensure that what its customers gets are the authentic products they produce.
In doing so they have developed a blockchain-based platform called AURA and will use this platform initially on its Louis Vuitton and Christian Dior line of luxury goods.
The company also revealed that it will not only expand AURA to its other 60 plus brands but will also offer its competitor its platform.
The AURA technology has been built by LVMH blockchain team with the assistance of ConsenSys and Microsoft Azure.
The AURO is built on Quorum, a version of Ethereum that was developed by J.P Morgan, which is permission base and focuses on data privacy.
According to an anonymous source who has knowledge about the project, AURA will provide proof of authenticity of luxury items and trace their origins from raw materials to the point of sale and even to used-goods markets.
Headlines for the world of Cryptocurrencies - May 26, 2019
- Italians Love Bitcoin And Blockchain Together
- Luxury Watch Maker Releases Watch With Bitcoin Cold Wallet Feature
- Italians Using Blockchain For Baby Food Safety
- FINRA Approves Grayscale’s Ethereum Trust
- Son Of Chinese Billionaire Made Significant Investment On Blockchain-Based Gaming
Headlines for the world of Cryptocurrencies - May 25, 2019
- AT&T Now Accepting Bitcoin
- Binance Screenshots Confirms Margin Trading For The Exchange
- GlobalCoin Of Facebook Will Be Release On 2020
- FINRA Approves Grayscale’s Ethereum Trust
- Spanish Banking Fintech Releases Crypto-Friendly Visa debit Card
Headlines for the world of Cryptocurrencies - May 24, 2019
- Italy To Define Legal Framework For Blockchain Innovation
- Telegram’s TON Network Launching On Q3 2019
- Malta Awards 19 Students With Blockchain Scholarships
- U.S. Copyright Office Says It Does Not Recognize Craig Wright As Satoshi Nakamoto
- Brian Kelly Sees Supply Cut Will Bring Bitcoin Prices Higher
