A consortium of luxury brans like LVMH, Prada and Cartier have come together to use blockchain to share information about their products’ authenticity with customers. The brands will use blockchain to match product ID with client ID, enabling customers to access product history and authenticity by tracking manufacturing process right from raw materials stage to the point of sale. Also Read | Blockchain transaction tested in spaceFour luxury companies, LVMH, Bvlgari, LVMH Maisons and Hublot, are already active on the platform. Luxury watchmaker Hublot has launched a digital e-warranty which will be stored in the blockchain system. It allows customers to verify the authenticity of their watch by taking a photo on their mobile phones.

Source: The Hindu April 26, 2021 08:23 UTC