Louis Vuitton and Christian Dior Start to Use Blockchain Technology

[Carollzinha]

In partnership with Joseph Lubin's Consensys and Microsoft, the system will be used to verify the authenticity of its products and raw materials. The consortium says the system, known as Aura, is designed to "serve the entire luxury industry with powerful product tracking services.

AURA enables consumers to access product history and proof of authenticity of luxury items - from the raw materials to the point of sale, and even after the purchase, the authenticity of original products that are sold in the used market

The technology will ensure that unique product information is stored in a shared ledger that customers can access through an official branding application and then obtain and query certificates of authenticity with information on where each piece comes from. For this, the companies have revealed that they will use Ethereum within Microsoft Azure.
The companies also said the application will provide ethical and environmental information, blockchain-registered product care instructions, and hope the platform will also be used by rival companies (Gucci, Tapestry, Burberry, Yves Saint Laurent, Prada, Rolex, etc.)

AURA is a ground-breaking innovation for the luxury industry. 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.

Well, it definitely proves that Blockchain Technology is not only good when it comes to cryptos or its transactions but for anything we can think about.

[andreibi]

I believe I read an older article about this. And yes, blockchains are an innovation to the manufacturing supply chain around the world. We just have to be patient in seeing when the technology will be integrated into company logistics.

[fiulpro]

To be honest what I think is , they have not just used to start it , they are now finally OPEN about it , blockchain was from 2009 getting Integrated in every software program at the same time providing a stable place to store information thus , it was already being used by companies big and small and also at the same time school and colleges and hospitals too.

It's good that they are opening up about it , blockchain is not Bitcoins as contrary to everyone around thinks. People who know nothing often consider it Bitcoins , that's funny though.
It's a great idea beyond today's technology.

[pooya87]

Well, it definitely proves that Blockchain Technology is not only good when it comes to cryptos or its transactions but for anything we can think about.

first of all something written on some news site is hardly proof of anything until we actually see things like this in action. the media tends to publish all kinds of crap that most of them aren't even real!
secondly, the real question you should be asking is WHY and WHAT is the benefit. the answer is nothing. this system being described here already exists with a database and works perfectly fine, and most importantly is working efficiently. using a blockchain is not going to improve that but instead make it less efficient and more expensive specially if you use a third party platform like ethereum, before the company had to just add a new entry in their database but now it would have to "pay" hefty fees to include the same thing in an inefficient database called ethereum's blockchain!
so i ask again, what is the benefit of this and why would anybody want to do this?

[Genemind]

This news has been circulating these days but I don't see any confirmation from Louis Vitton and Christian Dior.
I believe it's just a part of their plan to adopt the blockchain technology but I guess it has to undergo a lot of trial and error and certain studies. It's still a great news for the whole crypto community.

[xvids]

Well, it definitely proves that Blockchain Technology is not only good when it comes to cryptos or its transactions but for anything we can think about.

first of all something written on some news site is hardly proof of anything until we actually see things like this in action. the media tends to publish all kinds of crap that most of them aren't even real!
secondly, the real question you should be asking is WHY and WHAT is the benefit. the answer is nothing. this system being described here already exists with a database and works perfectly fine, and most importantly is working efficiently. using a blockchain is not going to improve that but instead make it less efficient and more expensive specially if you use a third party platform like ethereum, before the company had to just add a new entry in their database but now it would have to "pay" hefty fees to include the same thing in an inefficient database called ethereum's blockchain!
so i ask again, what is the benefit of this and why would anybody want to do this?

Yes ,We shouldn't believe what the media is posting because we all know that not everything they say is true.
We should wait till they are already working and be used by the public.
But at least if it is true then crypto could attract more investors or user because of this.

[Ailmand]

These huge businesses would announce it if it's true. It must be on the mainstream already but I think it's just fake news. There are lots of fake news coming out these days which only wants to deceive and attract investors but we should have assurance and confirmation first before we believe it.

[sulis sudibyo]

interesting enough, if all luxury goods using this technology might benefit the consumers in the future. there are no more fraudulent goods, and certainly no one has been harmed from producers to consumers.

[Kakmakr]

I think we should change this forum's name to BlockchainTalk.org because everyone gets exited when some big brand name starts to use Blockchain technology. <Sarcastic>  

There are a world of difference between someone using the Bitcoin token and some company using Blockchain technology with their own token. These so-called Blockchain technologies are direct competition for the Bitcoin token and should be seen as an Alt coin.  

[Beerwizzard]

Well, it definitely proves that Blockchain Technology is not only good when it comes to cryptos or its transactions but for anything we can think about.

Like many other blockchain related projects this one seems more like another PR move. No one said that the current system is bad and nothing tell us that decentralization is the only solution for that. Many other conpanies use centrelized information for different cunsumer care stuff and everything is grest. Seriously, why the information about come cloths identity should be faked by some hackers? Who da fuck cares about that?

[Nadziratel]

I'm not surprised. I think that Blockchain can be very compatible with the retail sector, the transportation sector and some other sectors as well as its contributions to the financial life.

[etherixdevs]

There are several big brands using Blockchain to track data and fight against fraudolent sale of clothes and bags. They started using a chip and now are integrating the blockchain. Unfortunately for end users this only will mean... increase of prices...

[Vaskiy]

I'm not surprised. I think that Blockchain can be very compatible with the retail sector, the transportation sector and some other sectors as well as its contributions to the financial life.

There is nothing to get surprised whenever new services under different sectors begin to function on the blockchain platform. Almost each and every sector has been adopting blockchain, daily more and more sectors will continue with this and news keeps rolling. Particularly we can see more people who opposed cryptocurrency and blockchain will begin to make use of it in the falling days.

[Huantobene]

Seeing major brands starting using blockchain technologies is beautiful. For sure it will boost the popularity of crypto as a business field overall. While cryptos is perceived more like trading tools, blockchains are slowly making their steps towards diversifying to be more than just instruments for transferring coins. The overall effect of this will be tangible everywhere. Many major shops and markets have started accepting crypto, but with Louis Vuitton and Dior, that's a different case, even more favorable for blockchain enthusiasts.

[bitvalak]

If its function to verify the authenticity of an item I really appreciate it.
However, if the function is to limit counterfeit goods, I think that is impossible, because luxury items will always be there to try to make replicas as well as a marketing strategy of the brand.

[Carollzinha]

Interesting, but will this protect their products from being counterfeited? Probably not.

The idea behind it is not to try to stop counterfeit products but to make it easy to people to verify if they are buying an original product or not

[avikz]

There are several big brands using Blockchain to track data and fight against fraudolent sale of clothes and bags. They started using a chip and now are integrating the blockchain. Unfortunately for end users this only will mean... increase of prices...

Have you thought of the downside? How can an end consumer ensures that his/her whereabouts are not being tracked by that chip?? Lets assume these big brands won't do such things, but what about the not-so-known brands?? What about the hackers?

Tracking products with the intention of reducing fraudulent sale is good, but at the same time, the blockchain needs to be used in good things only!

[stompix]

Somebody in the comments on cointelegraph asked the only question we should be asking:

Why not just use a regular database?

Seriously, why?
Why use a blockchain when the manufacturer is in total control over it?
They just insert data in the blockchain and publish it, so you can check it, this can be done via a traditional database just as well. There is no need to "mine" blocks there is no need to for clients as nobody is going to host this ..for what?

The idea behind it is not to try to stop counterfeit products but to make it easy to people to verify if they are buying an original product or not

And how can you be sure that the product is real?
Because it has a hash imprinted? That can be copied!
Because it has a chip inserted? That can be taken out an inserted in a cheap copy.

My family works in the meat business, I've seen pig meat with 4 veterinary stamps and twenty pages of proof and signatures that it passed veterinary inspection and was butchered 2 days ago and was greener than grass, good that it was frozen otherwise I wouldn't be here now.

For instance, it can focus on a single handbag and track its entire journey from production to the point of its first sale. Also, it can track the multiple owners that have had the same bag and sold it.

Oh yeah, this is going to be interesting.
Next step, tracking down when you have eaten your yogurt and comparing the data to check if you have purchased gastrointestinal medications two days from the event.

[MakeMoneyBtc]

Honestly I don't see the reason why they would use Blockchain technology for this since there already exist such kind of services for all big companies and they are much easier and probably cheaper to use. I see dozens of news about all kind of companies starting to work using Blockchain technology but I rarely see an official announcement from those companies confirming that so we shouldn't belive everything that goes out in the news websites.

[sehoon]

It is good that these companies already took an interest in the blockchain technology. This should help prove that blockchain is not all about just cryptocurrency or blockchain can only be used in cryptocurrency but also helps in different fields.