LVMH, owner of Louis Vuitton, Christian Dior and over 60 other luxury brands, is rumored to be set to release a blockchain for tracking and proving the authenticity of luxury goods.
Code named “Aura”, the platform has been in quiet development for over a year by an LVMH in-house blockchain team and is set for release in Q2 2019. The team has been working with ConsenSys, an ethereum design studio, and Microsoft Azure. While no comment has been forthcoming from LVMH or either of its partners, Aura is said to have been built using a permissioned version of Ethereum called Quorum, which is focused on data privacy and was developed by JP Morgan.
Aura will begin its launch with Louis Vuitton and Parfums Christian Dior items and then expand to the rest of LVMH’s brands. Once the project has been proven, LVMH intends to expand the platform to competitors.