• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Sensei Inu Logo Sensei Inu Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Breaking News: Breaking: Bitcoin Repayment Plan Gets New Deadline From Mt. Gox Trustee
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino
Bitcoinist.com
No Result
View All Result
Breaking News: Breaking: Bitcoin Repayment Plan Gets New Deadline From Mt. Gox Trustee
louis vuitton lv

Louis Vuitton And Dior Slip Into Blockchain With New Microsoft Platform

Esther Kim by Esther Kim
4 years ago
in News, Altcoin News, Altcoins, Blockchain, Companies, Ethereum, News teaser
0

Louis Vuitton and Dior just some of the luxury brands going Blockchain by partnering with Microsoft and Blockchain startup ConsenSys.


Luxury Brand Louis Vuitton Meets… Ethereum

Announced via a press release May 16, LVMH, the owner of various high-end fashion names, confirmed it was seeking to overhaul its business using the technology.

The plans involve a whole new platform dubbed AURA, built on the Ethereum blockchain and which leverages the Microsoft Azure cloud platform.

Microsoft Consensys

“AURA makes it possible for consumers to access the product history and proof of authenticity of luxury goods — from raw materials to the point of sale, all the way to second-hand markets,” the press release summarized.

The move marks a new frontier for the luxury market, Blockchain participation of which has so far taken a more limited form. As Bitcoinist reported, integrations have included schemes such as art auctions and e-commerce.

Vuitton, for example, which began to increase transparency in its supply chain in 2016, will use AURA as the last step in its traceability efforts.

“During production, each product is recorded on the shared ledger, irreproducible (sic) and containing unique information,” the release continues about how the platform will work.

At the time of purchase, a consumer can use the brand’s application to receive the AURA certificate containing all product information.

AURA ‘Truly Decentralized’

Elements of the operation mirror those currently underway in other industries keen on utilizing blockchain for their supply chains.

Those industries have become increasingly varied, and now include everything from metals to coffee and even lettuce shipments.

While some implementations have attracted criticism given blockchain’s comparatively nascent state, for ConsenSys, the benefits of introducing decentralized architecture make the luxury fashion project worthwhile.

“AURA is a groundbreaking innovation for the luxury industry,” Ken Timsit, managing director of the company’s enterprise blockchain arm ConsenSys Solutions commented.

ConsenSys is proud to contribute and to work with LVMH on an initiative that will serve the entire luxury industry, protecting the interests, integrity, and privacy of each brand, leveraging Ethereum blockchain technology in a truly decentralized way.

So far, Dior and Louis Vuitton are the only participants in the program, with executives revealing discussions to sign up others were ongoing, without naming specific brands.

The unveiling follows news ConsenSys was seeking $200 million in outside funding after a challenging few quarters which saw staff layoffs earlier this year.

What do you think about AURA? Let us know in the comments below!


Images via Shutterstock

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Esther Kim

Esther Kim

Related Posts

Upbit

Upbit’s Dark Hour: Fake APT Tokens Wreak Havoc In South Korea

8 hours ago
Barclays

Crypto Investor Barclays Announces Closure Of UK Accounts For British Expats

1 day ago
Altcoins

Altcoins In Turmoil: Top Analyst Predicts Challenges Ahead

2 days ago
Friend.tech

New Report Dives Into The Good, The Bad, And The Ugly Side Of Friend.Tech

2 days ago
Pro-XRP lawyer

Pro-XRP Lawyer Drops Bombshell Announcement About Ethereum

2 days ago
Ethereum Fees Generated

Ethereum Staking Momentum Falling, What’s Going On?

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Play Finance

Top Casinos

Trust Dice
Trust Dice
Punt Casino
Punt Casino
mBit
mBit

Press Releases

  • Polkadot (DOT) and Cosmos (ATOM) Prices Might Be Hitted...

    3 mins ago
  • Big Performers Toncoin (TON) And Cosmos (ATOM) Shine...

    3 mins ago
  • Meta Tower Embarks on a New Frontier: $MT CEX Listing on...

    4 hours ago
  • Traders Fear Bitcoin Returning to $22,000, But That...

    4 hours ago
  • Label Foundation Joins Hands with LG Electronics for...

    9 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • Gambling
      • Bitcoin Casinos
      • Real Money Slots
      • Online Casino Real Money
      • Casino utan svensk licens
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Best crypto casino

© 2023 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.