Report: Louis Vuitton, Christian Dior Owner Develops DLT Project With ConsenSys and Azure

Published at: March 26, 2019

French luxury goods giant Moët Hennessy Louis Vuitton SE (LVMH) is reportedly working with ConsenSys and Microsoft Azure to develop a blockchain platform for tracking its products, crypto media agency CoinDesk reports on March 26.

Dubbed AURA, the blockchain-powered platform is reportedly scheduled to go live in May or June 2019 with two major LVMH subsidiaries: Louis Vuitton and Parfums Christian Dior.

Louis Vuitton is French fashion house founded in 1854 and known for its signature LV logo, while Parfums Christian Dior is the perfumery and cosmetics line of other French fashion house Christian Dior.

According to the report, the AURA platform is based on JPMorgan’s Quorum blockchain platform, which is running on the Ethereum (ETH) blockchain.

When reached by Cointelegraph, a ConsenSys spokesperson declined to comment on the alleged cooperation within the initiative.

In the initial stage, AURA is expected to prove the authenticity of LVMH’s luxury products, allowing for the tracking of origins to the point of sale, an anonymous source familiar with the matter told CoinDesk. At the next stage, the company intends to explore the protection of creative intellectual property, as well as exclusive offers, events for customers and anti-advertising fraud, the source revealed.

In order to deliver the blockchain-powered platform, LVMH has reportedly hired a full-time blockchain team that has been working on the AURA project for more than a year, allegedly working with blockchain development entity ConsenSys and Microsoft’s Azure cloud service.

After AURA is successfully piloted, the project is planned to be extended to LVMH ‘s other brands, as well as eventually to its competitors, CoinDesk learned.

Recently, major United States-based postal carrier UPS has announced the launch of a blockchain-enabled platform to improve merchant supply chains. Dubbed Inxeption Zippy, the new blockchain project is developed along with e-commerce technology company Inxeption, and is set to improve the system of products distribution as well as to track the entire supply chain from product listing to delivery.

Earlier today, over 130-year-old liquor company William Grant & Sons also announced that one of their brands would release whisky on blockchain in order to confirm its provenance.

Tags
Adoption
Blockchain
Jpmorgan Chase
Supply Chain
France
Mainstream
Consensys
Azure
Related Posts
Central Banks Should Leave Crypto to Facebook and JPMorgan: PwC Partner
Central banks should leave issuance of digital currencies to corporations such as Facebook and JPMorgan, according to a blockchain and financial partner at PwC France, Forbes reports March 22. According to PwC France’s Pauline Adam Kalfon, central banks should stay away from the issuance of central bank digital currencies (CBDCs) until large corporations test out the tokenization of fiat currencies themselves. Only when cryptocurrencies are "battle-tested by corporations,” should central banks make a move towards the crypto space, Kalfon argued, adding that it will reduce the likelihood of potentially negative consequences on the economy arising from any central bank issuing …
Adoption / March 22, 2019
Ethereum’s Joe Lubin: Blockchain Will ‘Take a Little Longer’ to Develop Than the Web
Blockchain will “probably take a little longer” to develop than the internet, because it is “much more complicated,” ConsenSys creator Joseph Lubin told German media outlet t3n in an interview, Cointelegraph auf Deutsch reported Nov. 9. Lubin, who is also the co-founder of Ethereum (ETH), told reporters that blockchain technology is developing in a similar way to the web, citing its exponential growth with “hundreds of projects that are already practical for humans” to date. Based on blockchain’s use case for decentralized cryptocurrencies, the digital entrepreneur also suggested that distributed ledger technology (DLT) will be able to “permeate society more …
Decentralization / Nov. 10, 2018
US Seafood Giant Bumble Bee Foods to Use SAP Blockchain Tech in Supply Chain
North America’s largest branded shelf-stable seafood firm Bumble Bee Foods has launched a blockchain platform for seafood traceability. The project was created in collaboration with German tech company SAP specializing in enterprise software, according to a press release on March 8. Based on SAP Cloud Platform Blockchain service, the new platform can purportedly monitor the supply chain of yellowfin tuna from Indonesia to end customers. The announcement was made at the annual industry conglomerate South by Southwest Conference (SXSW) that is taking place from March 8 to March 17 in Austin, Texas, United States. Customers will purportedly be able to …
Adoption / March 8, 2019
JP Morgan-Backed Firm Partners with Blockchain Startup Run By Former Deloitte Exec
JP Morgan-backed digital services firm Smartrac has partnered with SUKU Ecosystem, a blockchain startup headed by former Deloitte exec Eric Piscini, according to a tweet on Tuesday, Jan. 22. SUKU, which is parented by blockchain firm Citizens Reserve, will provide its platform to integrate with Smartrac’s supply chain. Smartrac is a radio-frequency identification (RFID) inlay manufacturer based in the Netherlands. Citizens Reserve reportedly released the alpha version of SUKU last autumn. SUKU is a supply chain as a service platform based on blockchain technology. Piscini, CEO at Citizens Reserve, said that the new partnership aims to resolve major problems related …
Adoption / Jan. 22, 2019
26 French Companies, Five Banks Complete Blockchain-Based KYC Trial Based on R3’s Corda
26 French companies and five major banks have completed a Know Your Customer (KYC) test based on blockchain, according to a press release by the entrant firm RCI Bank and Services released Dec. 3. RCI Bank and Services, a French automotive financing and insurance firm unveiled details of a customer knowledge-focused blockchain solution trialed in partnership with blockchain consortium R3. According to the press release, the Proof-of-Concept (PoC) test has been conducted in cooperation with the Association Française des Trésoriers d'Entreprise (AFTE), a local network of treasury and finance professionals. As revealed by a participant of the test, RCI Bank …
Adoption / Dec. 3, 2018