Image: Louis Vuitton store situated on the famous Champs-Elysées, Paris, France, Wikipedia
Luxury goods conglomerate LVMH, tech giant Microsoft and
blockchain software technology ConsenSys have teamed up to develop the AURA
blockchain-based platform, a solution that makes it possible for consumers to gain
access a luxury good’s history and proof of its authenticity – from raw
materials to the point of sale, all the way to second-hand markets, the
companies said on Thursday.
During production, each product is recorded on the shared
ledger, irreproducible and containing unique information. At the time of
purchase, a customer can use the brand’s application to receive the AURA
certificate containing all product information.
The solution aims to provide transparency and a single source
of truth for customers who can be certain that a product is indeed genuine.
Consumers get access to critical details about a product’s origin and
components, including ethical and environmental information, instructions for
product care, as well as the after-sales and warranty services available.
Several brands of the LVMH Group, including Louis Vuitton
and Parfums Christian Dior, are currently involved in the project. For Louis
Vuitton, the AURA project is the culmination of traceability program Track
& Trace launched more than three years ago. Advanced discussions are
underway to add more brands from the group as well as brands from other luxury
The companies involved in the project decided to implement a
consortium model where any luxury brand can become a full member. They said the
model will ensure that the technology is accessible to all while maintaining
the flexibility to address the specific needs of each luxury brand.
AURA is built on Quorum,