The luxury brands Louis Vuitton, Cartier and Prada decided to come together to launch a certificate of authenticity based on blockchain technology, through a project called Aura Blockchain.
The main purpose of this project is to offer an extra guarantee of authenticity of the products. Through this service, the customer will be able to trace the path taken from obtaining raw materials to the points of sale and occasional used products markets.
Antonio Belloni, managing director of LVMH, one of the largest luxury conglomerates in the world, said that the consortium between the brands is a way of setting an industry standard, rather than having each brand develop its own solutions separately.
Although certificates of authenticity have long existed in the industry, blockchain’s reputation as an “unbreakable” tool means that this project could be a better alternative against counterfeiting goods.
More information available in Portuguese at: https://6minutos.uol.com.br/negocios/louis-vuitton-cartier-e-prada-vao-usar-blockchain-para-combater-falsificacao-de-produtos/