Luxury brand behind Louis Vuitton will be leveraging blockchain technology
- LVMH is going to working towards the use of blockchain technology and DLT, to become the first brand adopting it.
- The technology is going to be rolled out for the launch of a new project Aura in May and June.
The luxury brand, LVMH is working towards being the first organisation in adopting the use of blockchain technology. They will also be leveraging DLT for the benefit of traceability, in addition to large-scale product authentication in Italy.
LVMH is expected between the months of May and June, to launch Aura, which will be a blockchain network for the authentication, facilitating its products that will initially be reserved for the Louis Vuitton and Perfumes Christian Dior brands. There is the further scope of it to be leveraged in other brands of the company.
It was detailed within the Wall Street in Italy, the launch of Aura will see proof of the validity of luxury products and will present evidence of their origins, beginning with the raw materials. The platform also plans to deal with the fortification of creative intellectual property, with high-class offers and measures for the customers of each brand.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
