Luxury, meet blockchain.
Louis Vuitton on Friday unveiled the first global blockchain designed to help consumers trace the provenance and authenticity of luxury goods, a platform named Aura it has developed in partnership with Microsoft and New York-based blockchain software technology company ConsenSys.
Bernard Arnault, chairman and CEO of parent company LVMH Moët Hennessy Louis Vuitton, said the technology is still in the very early stages, but he touted it as a key tool in the fight against fakes.
This story was reported by WWD and originally appeared on WWD.com. To read the full story, please go to WWD.com.
Watch FN’s video featuring Rihanna.
Want more?
Industry Moves: Meet the New Lead of Rihanna’s Fashion Brand With LVMH
LVMH’s New Woman in Power: 3 Ways Rihanna Is Revolutionizing Fashion
Louis Vuitton’s Blockbuster Results Point to New Levels of Profitability for LVMH’s Star Brand
