LVMH Moët Hennessy Louis Vuitton (Paris) has launched a blockchain platform called Aura, according to Retail Dive. It’s intended to authenticate luxury goods and was made in conjunction with Microsoft and blockchain software company ConsenSys (New York).
The platform’s main purpose will be to aid customers in determining the origins of their products, but LVMH reportedly also said the technology could be used to “safeguard creative intellectual property and curb advertising fraud,” Retail Dive reports. The process to begin developing the Aura platform began three years ago, ConsenSys said in a company statement.
Using the platform, consumers will be able to trace their item’s raw materials, manufacturing and distribution information and design details, among others. Warranties, after sales services and product care instructions can also be located by shoppers using the platform, according to Retail Dive.