LVMH is going to be the first group, in the luxury business, to implement blockchain technology for traceability and certification of products on a large scale. As reported by CoinDesk, from May to June the French luxury giant will supposedly launch Aura, a blockchain for the certification of its own products. At first, they will presumably apply it only to Louis Vuitton and Parfums Christian Dior brands; yet, subsequently, they might decide to apply the new technology to all the other brands, controlled by the group, as well. Looking at the news reported by the Wall Street Italia, Aura would provide the proof of luxury goods authenticity while tracing, at the same time, their origin, starting from raw materials. After that, during the following stage, the platform should take care of the creative intellectual property, while overseeing exclusive offers and events directed at all brands’ customers. “Since LVMH, who is a leading brand, decided to turn product certification into a must for luxury items consumers, it is high time each luxury and premium brand paid close attention to blockchain technology”, pointed out Michele Casucci, founder and managing director of Certilogo. “Blockchain is one of the most interesting technologies of our generation – he added – to show consumers where a product comes from, its manufacturer, and what materials it is made of; last but not least, to let them know that it is authentic”. According to a few surveys carried out by the Blockchain Observatory & Distributed Ledger (Polytechnic of Milan), now reported by Zerounoweb, in Italy blockchain technology is still little developed: since October 2018, 150 projects have been underway. Their overall value amounts to 15 million euros (compared to 2017, it is higher, anyway).
LVMH are up for Blockchain, a new technology to trace and certify LV and Dior products
