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 firms.
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, a permissioned version of the Ethereum blockchain developed by JPMorgan, and harnesses Microsoft Azure. The platform is especially designed for luxury brands and offers a wide range of services specific to the industry, catering to the needs of
