Over the past year, brands including Loro Piana, Louis Vuitton and Maison Margiela have launched services built on the Aura consortium’s blockchain that allow customers to verify that their item isn’t a knockoff.
The hope is that tracking handbags, coats, watches and diamond rings this way could be a game changer in the industry’s fight against the ballooning counterfeits market.
Giving customers a more reliable way to prove their products are real could help raise the appeal of originals, while making it harder to sell fakes on the secondhand market. When customers look up one of the 600 000 OTB products registered, they don’t just do it on any random website; the brands control which goods are registered on the platform.
Other sectors have been toying with the technology for years, but have yet to implement any applications at scale. Despite the billions of dollars invested, you’d be hard-pressed to find mainstream adoption of applications beyond cryptocurrencies. Similarly, earlier this year, LVMH’s Loro Piana launched a service allowing customers to scan a QR code on labels of its high-end Gift of Kings garments to verify their authenticity—pretty important when buying one of its T-shirts, which can cost £1 665 .
Applications built using the Aura Consortium’s technology use different layers of security including encrypted NFC chips, a spokesperson said. Customers can use their phones to tap a jewelry’s card—including that accompanying a yellow gold chain necklace that costs £25 500 — to pull up a certificate of authenticity, its carbon footprint and information on the material used.
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