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LVMH has assembled a stealth full-time blockchain team over a year ago, working with ethereum design studio ConsenSys and Microsoft Azure.
The project, nicknamed AURA, is expected to be live by May or June with Louis Vuitton and Parfums Christian Dior.
“To begin with AURA will provide proof of authenticity of luxury items and trace their origins from raw materials to point of sale and beyond to used-goods markets,” stated a source familiar with the project.
“The next phase of the platform will explore protection of creative intellectual property, exclusive offers and events for each brands’ customers, as well as anti-ad fraud.”
LVMH has a reported revenue of $53 billion in 2018.
The firm is hopeful other luxury companies will use the AURA protocol to increase anti-counterfeiting measures.