Blockchain 

Life of Luxury: Fashion Turns to Blockchain

Although once confined largely to agriculture, blockchain technology is now making major inroads into the luxury goods supply chain market. Thus, Consensys recently announced a new platform with French multinational luxury goods conglomerate LMVH and the technology behemoth Microsoft to verify the authenticity of luxury goods. Luxury brands trial blockchain Although many products in the luxury goods market are renowned status symbols found in expensive city center stores the world over, the components of their products can originate in the most far-flung corners of the globe. The nature of globalized…

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Ethereum 

Franck Muller Releases Luxury Watch With Bitcoin Cold Wallet Functionality

High-end Swiss watchmaker Franck Muller has partnered with alternative assets investing firm Regal Assets to release the bitcoin (BTC) storage watch “Encrypto,” according to a report by Cointelegraph Brasil on May 23. In addition to being a high-end fashion accessory, with a price ranging from $9,800 to $50,600, the watch reportedly also functions as a cold wallet for BTC. The watch is reported to be engraved with a public address on its dial and comes paired with a private key on a USB drive. According to the firm, the “deep…

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Blockchain 

Louis Vuitton and Christian Dior Owner Unveils Blockchain Platform to Verify Luxury Goods

ConsenSys has teamed up with LVMH and Microsoft to build a blockchain-powered platform that allows consumers to verify the authenticity of luxury goods, according to a news release on May 16. The consortium says the system, known as Aura, is designed to “serve the entire luxury industry with powerful product tracking and tracing services.” LVMH brands including Louis Vuitton and Christian Dior are already involved in the project — and discussions are underway to extend Aura to other high-end names within the group. The news release added: “AURA makes it possible for consumers…

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Blockchain 

Luxury Fashion Brand Alyx to Use Iota’s DLT for Supply Chain Tracking

Luxury fashion brand Alyx intends to use Iota’s distributed ledger technology (DLT) for supply chain tracking, cryptocurrency news outlet The Block reports on May 15. Per the report, Iota’s system will be implemented in partnership with global manufacturing company Avery Dennison to allow Alyx’s customers to have full insight into their supply chain. By scanning QR codes with an app, it will reportedly be possible to track the course traveled by the item from its creation to the point of sale. The Block claims that data concerning the apparel’s production…

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Cryptocurrency 

Tokenized Real-World Asset | Luxury Condo Put on Ethereum Blockchain

It’s the first of its kind. According to Forbes, a luxury condo development in Manhattan, which is valued at more than $30 million, will be tokenized on the worldwide Ethereum blockchain, making the luxury condo a tokenized real-world asset. The building comprises of 12 units at 1700 sq ft each and is located on 436 & 442 E 13th St in Manhattans, East Village. The listing broker on the deal is Ryan Serhant. He and the developer are looking to tokenization as a new method of financing. He says: “With…

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