Impossible to guard against fake luxury goods? LV parent company will push the block chain security platform

Author | Aloe

| editor Lu Xiaoming

 Impossible to guard against fake luxury goods? LV parent company will push the block chain security platform

Fake luxury goods market before the media unannounced visits to Guangzhou impossible to guard against, leather hardware city, overseas purchasing goods exposure “purchasing genuine”, after the authenticity of the luxury goods group Louis Weedon LVMH is preparing to launch a block chain platform to verify the luxury goods.

LVMH operates more than 60 luxury brands, including LV, Dior (Dior), DOM Perignon (Dom P rignon) and Heng Bao (Hublot) and many other well-known luxury brands. The group’s 2018 revenue of $53 billion.

It is reported that LVMH has recruited a team of R & D block AURA block chain, chain platform, is expected to be launched in May or June at the same time with another LVMH brand Parfums Christian Dior, then LVMH will expand to the other more than 60 brands, will eventually support rival brands.

Familiar with the project of the two informed sources, LVMH has recruited a full-time blockchain team, they had been secretly developing for more than one year, and Ethernet square design studio ConsenSys and Microsoft Azure have close cooperation.

AURA based on Ethernet protocol based on distributed books on Quorum square, the block chain focuses on data privacy, developed by J. P. Morgan. Quorum tools to ensure data privacy will not disclose any information between brands and their customers.

LVMH and its partner ConsenSys and Microsoft declined to comment. But according to informed sources, to prove the authenticity of AURA will provide luxury, from the origin of raw materials has been traced back to the point of sale, then to the whole process of second-hand goods market. The next stage of the platform, will explore the customer protection, the creative intellectual property for each brand to provide exclusive offers and advertising activities, and anti fraud.

 Impossible to guard against fake luxury goods? LV parent company will push the block chain security platform

In fact, LVMH is not the first to propose the blockchain traceability of the company, there are other luxury platform and micro alliance, such as Arianee or Vechain.

Luxury items are often the same origin, simply to stick a luxury can not be copied and forged the one and only, two-dimensional code, NFC holographic scanning technology and automatic verification, will be all about the object in a transaction through a mobile phone application software on record. This is not a record cannot be destroyed, forged and destroyed, and can help the brand acquisition of the whole life cycle of product information. Counterfeit way often rely on NFC and block chain technology, almost all of the ERC20 and ERC721 types of tokens.

About how its brand positioning between AURA and partner, Louis Weedon intends to white label (White label) in the form of providing this service to other brands including competitors. The source added: “this should take the form of industry alliances, and not by the three participants to enter the market. “

In other words, the luxury brand consumers will not see AURA, but will see applications of Louis Weedon or other luxury brands.

The source added that in order to avoid like between IBM and Maersk block chain joint venture experience, Louis Weedon will put all intellectual property (IP) donated to an independent entity, and the entity, which in turn will be owned by participating brands. It is reported that in the IBM Global trade supply chain project, because the relationship between Maersk and IBM for the joint venture, agreed to join the maritime transport important participant, scanty shipping company.

Therefore, Gucci may decide to join the platform and become shareholders — in this case, they will be required for intellectual property rights and Louis Weedon requirements of intellectual property rights as important. This is the main difference between this project and IBM Maersk project. I hope this can make it and trade finance consortium Komgo more comparable. “

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