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Louis Vuitton goes Ethereum: LVMH cooperates with ConsenSys, and Microsoft

the A cooperation of ConsenSys, Microsoft and LVMH brings a touch of luxury-goods on the Ethereum Blockchain. The platform of the AURA allows the Verification

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Louis Vuitton goes Ethereum: LVMH cooperates with ConsenSys, and Microsoft
the A cooperation of ConsenSys, Microsoft and LVMH brings a touch of luxury-goods on the Ethereum Blockchain. The platform of the AURA allows the Verification of the origin of articles of luxury. Among the brands that rely on AURA, including Louis Vuitton and Christian Dior.

By Christopher clover
16. May 2019ETH$260,17 -1.77%part Facebook Twitter LinkedIn xing mail

A Blockchain company ConsenSys starts together with Microsoft and the luxury retailer LVMH is a platform for the Tracking of luxury articles. AURA, the Name of the platform used on the Ethereum Blockchain, as well as the Microsoft Azure Cloud platform, the origin and delivery to document ways of luxury products, LVMH group tamper-proof.

Among other things, the articles of Louis Vuitton and Christian Dior, it should be followed by the customer.

During the production of each product in the common Ledger, not in a reproducible manner and with clear information. At the time of purchase, a consumer on the request of the brand can get the AURA certificate with all product information. Decentralized and unchanging,

it said in a press release, the BTC-ECHO is present.

the certificate of authenticity of the AURA should not be available to companies that belong to the LVMH group. Therefore, AURA has decided according to the press release for the model of a consortium, the other luxury brands will be able to join. A ground-breaking development, finds Ken Timsit, Managing Director of Enterprise Blockchain at ConsenSys.

the AURA is a breakthrough Innovation for the luxury industry. ConsenSys is proud to make a contribution and to work with LVMH, in an Initiative, which the entire luxury industry serves the interests, integrity and privacy of each trademark protects the Ethereum block Chain technology in a truly decentralized way.

Ethereum, Quorum and the ERC721-Standard

"Truly decentralised" is to be understood, however, relative to. Finally, the private Distributed Ledger technology, Quorum is used. At Quorum, it is a banking giant J. P. Morgan developed a "Private Blockchain", which is open only to approved participants and on Ethereum-based.

ConsenSys is one of the most important technology partner of AURA. The ConsenSys Team was involved in the conception and development of Traceability Smart Contracts [...], the AURA Blockchain infrastructure (an approved consortium, with a focus on data protection, based on a Quorum), and the API that forms an interface between a luxury brand and the platform the AURA is on a White Label Basis.

ERC721 tokens are not fungible – each Token is one of a kind. Therefore, the Standard for the tracking of clearly identifiable products. Greater prominence reached ERC721 by its use for the dApp crypto kitties. The passion for collecting of the crypto-Fans caused the end of 2017 for an Overload of the Ethereum network, in the meantime, the dApp is suffering from declining user numbers.

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julius 2 gün ago

Blockchain now is gradually used in logistic field! Louis Vuitton owner -Moët Hennessy Louis Vuitton (LVMH) announced their partnership with Microsoft and US-based crypto firm ConsenSys to establish a blockchain-based system for tracking luxury goods, named AURA certificate”! fantastic news of the crypto sight, guys! https://thecryptosight.com/louis-vuitton-owner-lvmh-introduces-blockchain-aura-certificate-for-goods-authenticity/