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Author Topic: [2019-05-27] Louis Vuitton to Use Blockchain for Product Authentication  (Read 41 times)
MarinaTrif
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May 27, 2019, 10:41:36 AM
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LVMH is set to be the first group in the luxury industry to adopt blockchain technology and DLT for traceability and large-scale product authentication in Italy. The French luxury giant, between the months of May and June, should roll out Aura, a blockchain network for the authentication of its products that will initially be reserved for the Louis Vuitton and Perfumes Christian Dior brands, but which in the future could be extended to all other brands controlled by the group.

The local news outlet Wall Street Italy, revealed that, Aura will offer proof of 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.

https://coinidol.com/louis-vuitton-authentication/
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May 27, 2019, 11:32:11 AM
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This must be about the tenth or more project serving this exact purpose. Considering these things need to last decades to provide ongoing provenance it seems very stupid to create a new chain rather than get behind an existing and established one.

If they were serious they'd hang back and see which one had proper legs.

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May 27, 2019, 12:09:46 PM
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This must be about the tenth or more project serving this exact purpose. Considering these things need to last decades to provide ongoing provenance it seems very stupid to create a new chain rather than get behind an existing and established one.

If they were serious they'd hang back and see which one had proper legs.
If they want to create a private blockchain to monitor everything then what is the issue mate but i am not sure how they are going to tackle the fake products, not only Louis Vuitton each and every brand is going through that issue, we see more fake products in the market than the originals and if everyone could authenticate the original product with the help of blockchain, more power to the end user who spent the money and for the business.

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May 27, 2019, 01:34:00 PM
 #4

This must be about the tenth or more project serving this exact purpose. Considering these things need to last decades to provide ongoing provenance it seems very stupid to create a new chain rather than get behind an existing and established one.

If they were serious they'd hang back and see which one had proper legs.
If they want to create a private blockchain to monitor everything then what is the issue mate but i am not sure how they are going to tackle the fake products, not only Louis Vuitton each and every brand is going through that issue, we see more fake products in the market than the originals and if everyone could authenticate the original product with the help of blockchain, more power to the end user who spent the money and for the business.

I have seen similar projects before and many of them introduce their projects via the ICO route most especially in 2017 but I think many just died the expected natural death. Then we have here  Louis Vuitton which got the adequate resources, connection and fame that can launch a thousand ships entering into the scene. The fight against the proliferation of fake brands and products is getting the help of the blockchain technology. Let's see how things will eventually unfold on this project. And if LVMH can be successful, am sure other luxury good producers and marketers may follow the lead.

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