LVMH, ConsenSys and Microsoft announce AURA, a consortium to power the luxury industry with blockchain technology

Today, ConsenSys, in  partnership  with LVMH and Microsoft, announced AURA, a platform that aims to serve the entire luxury industry with powerful product tracking and tracing services, based on Ethereum blockchain technology and utilizing Microsoft Azure. AURA makes it possible for consumers to access the product history and proof of authenticity of luxury goods — from raw materials to the point of sale, all the way to second-hand markets.

Several  brands  of  the  LVMH  Group,  such  as  Louis  Vuitton  and  Parfums  Christian  Dior,  are  currently involved, and advanced discussions are underway to onboard additional brands from the LVMH Group, and  other  luxury  groups  globally.  For  Louis  Vuitton,  the  development  of  the  AURA  project  is  the culmination of the traceability program (Track & Trace) launched more than three years ago.

The luxury goods industry involves many specialized actors — design, raw materials, manufacturing, and distribution. LVMH products have a unique story to tell throughout the product life cycle that can now be revealed through the use of blockchain technology. During production, each product is recorded on the shared ledger, irreproducible and containing unique information. At the time of purchase, a consumer can use   the   brand’s   application   to   receive   the   AURA   certificate   containing   all   product   information. Decentralized and immutable, blockchain technology provides transparency and a single source of truth for the consumer: it ensures the authenticity of the product, provides details on product origin and components (including ethical and environmental information), instructions for product care, and the after-sales and warranty services available.

An industry-wide platform powered by Ethereum Quorum

For  this  particular  alliance  of  brands  and  technology  partners,  the  AURA  team  chose  to  implement  a consortium  model,  where  any  luxury  brand  can  become  a  full  member.  This  model  ensures  that  the possibilities of the technology can be made accessible to all, while maintaining the flexibility to address the specific needs of each luxury brand.

AURA  has  been  specifically  developed  by  luxury  brands,  for  luxury  brands,  offering  a  wide  range  of services specific to this industry. Brands have flexibility in designing the capabilities of AURA; some may choose to focus on the sourcing of raw materials, whereas others may focus on providing tailored services and strengthening consumer loyalty.

ConsenSys is one of the main technology partners of AURA. The ConsenSys team contributed to the design and development of Traceability Smart Contracts (based on ERC 721 non-fungible token standards), the

AURA blockchain infrastructure (a permissioned consortium network with privacy, based on Quorum), and the brand API that allows luxury brands to interface with the AURA platform on a white label basis.

Ken  Timsit,  Managing  Director  of  ConsenSys  Solutions,  the  enterprise  blockchain  arm  of  ConsenSys, commented,  “AURA  is  a  groundbreaking  innovation  for  the  luxury  industry.  ConsenSys  is  proud  to contribute and to work with LVMH on an initiative that will serve the entire luxury industry, protecting the interests,  integrity,  and  privacy  of  each  brand,  leveraging  Ethereum  blockchain  technology  in  a  truly decentralized way.”

 

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