LVMH Debuts Blockchain-Based Product Tracking

Blockchain services start-up ConsenSys, luxury group LVMH and Microsoft said have announced a blockchain-based product tracking system called Aura that the companies say can be joined by any firm in the luxury business.

The decentralised system is designed to create a unique identifier for each product, tracking its provenance from raw materials to point of sale to second-hand markets.

LVMH brands including Louis Vuitton  and  Parfums Christian  Dior are involved in the project, with plans to involve other of the group’s brands and other luxury firms, the companies said.

The system grows out of a Louis Vuitton project called Track & Trace launched three years ago.

Digital tracking

Aura allows a purchaser to use the brand’s application at the time of purchase to receive a digital certificate containing blockchain-based product information.

The use of the blockchain distributed ledger system means the data is not controlled by any one organisation and cannot be altered.

The certificate ensures the product’s authenticity and provides details on its origins and components, as well as giving other information such as instructions for care of the product and after-sales and warranty services.

Aura operates on a consortium model under which any luxury group can become a full member, with firms having the flexibility to tailor the system to their needs.

Tailored services

Some may choose to focus on providing purchasers with information on the sourcing of a product’s raw materials, while others can provide personalised services or try to boost customer loyalty.

Brooklyn-based start-up ConsenSys provided the design and development of the system’s Traceability Smart Contracts, based on ERC 721 token standards, the Aura blockchain infrastructure and the API through which firms operate the system.

Aura is based on Quorum, a permissioned version of the Ethereum blockchain developed by JP Morgan, and uses Micrisoft’s Azure infrastructure.

Microsoft said earlier this month it had developed a blockchain-based tool that would be used by Starbucks to track coffee from farms to outlets.

Matthew Broersma

Matt Broersma is a long standing tech freelance, who has worked for Ziff-Davis, ZDnet and other leading publications

Recent Posts

Apple, Google Mobile Ecosystems Should Be Investigated, CMA Told

CMA receives 'provisional recommendation' from independent inquiry that Apple,Google mobile ecosystem needs investigation

1 day ago

Australia Rejects Elon Musk Claim About Social Media Ban For Under-16s

Government minister flatly rejects Elon Musk's “unsurprising” allegation that Australian government seeks control of Internet…

1 day ago

Northvolt Files For Bankruptcy Protection In US

Northvolt files for Chapter 11 bankruptcy protection in the United States, and CEO and co-founder…

1 day ago

UK’s CMA Readies Cloud Sector “Behavioural” Remedies – Report

Targetting AWS, Microsoft? British competition regulator soon to announce “behavioural” remedies for cloud sector

2 days ago

Former Policy Boss At X, Nick Pickles, Joins Sam Altman Venture

Move to Elon Musk rival. Former senior executive at X joins Sam Altman's venture formerly…

2 days ago

Bitcoin Rises Above $96,000 Amid Trump Optimism

Bitcoin price rises towards $100,000, amid investor optimism of friendlier US regulatory landscape under Donald…

2 days ago