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Louis Vuitton, Christian Dior partner with Consensys and Microsoft to enter the blockchain space

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The mass adoption of blockchain and cryptocurrency is critical to the future of virtual assets. Institutions and companies around the world are slowly easing up on the idea of blockchain since various developments and partnerships have surfaced over the last few weeks.

Now, according to a recent press release, Consensys has initiated a partnership with LVMH group and Microsoft to develop a blockchain-based platform named AURA. The main objective of this blockchain platform is to allow the luxury goods industry to access efficient tracing and tracking options.

AURA, based on Ethereum’s [ETH] blockchain technology, would allow customers purchasing goods from the luxury industry to have a point of access, with regard to their product history, while also having proof of authenticity.

Major fashion industry brands like Louis Vuitton and Parfums Christian Dior are some of the companies associated with LVMH group. It was also reported that there was further discussion to bring more reputed brands onboard from the LMVH group.

Ken Timsit, Managing Director of ConsenSys, stated,“AURA is a ground-breaking 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.”

The present development is a major boost for the crypto-community, as the introduction of blockchain might accelerate crypto-adoption across the world.

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Draper Venture Network Selects Blockchain-Focused Venture Studio, GHV to Join DVN Beta

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LOS ANGELES (May 22, 2019) – Goren Holm Ventures (GHV), a fintech and blockchain-focused venture studio based out of Santa Monica, California, has joined Draper Venture Network’s DVN Beta program.

Founded by legendary venture capitalist Tim Draper, DVN currently comprises of 24 VC funds that operate in 60 cities globally and  collectively manage over $2B in assets under management. It is a global, self-governed organization of independent venture funds that cooperate on investment diligence, marketing intelligence, corporate relationships, and co-investments. The DVN Beta program focuses on supporting budding VCs and exposing them to the world’s best investors and investment infrastructure.  It is also meant to be a testing ground for first-time funds and alternative funding models.

“We are thrilled to bring in GHV as a member fund,” said Tim Draper, Founder of Draper Associates and Draper Fisher Jurvetson. “Josef and Alon have a great reputation for networking and inclusion. We are confident that they will be a great source of deal flow and wisdom to the network. We look forward to working with their team and their portfolio companies going forward.”

By joining DVN Beta, GHV accesses a global nexus of business development

opportunities and tech hubs with a local footprint in emerging economies around the world.

“GHV has amassed an incredible, global platform,“ says Gabe Turner, DVN’s Executive Director“By providing strategic introductions and access to partner funds, corporate partners and industry leaders, we will bring visibility and scale to their portfolio.”

GHV’s portfolio companies also benefit through this partnership by gaining access to a worldwide network of capital and expertise while procuring entry into localized private events and exclusive gatherings.

“As a former DVN portfolio company CEO, I had access to DVN’s incredibly powerful, global network and private events,” said Alon Goren, Founder of GHV. “Later as a venture partner for one of their funds, I experienced just how valuable DVN can be from the other side of the table.  When we decided to formalize GHV, Gabe and Tim were our first call, and we couldn’t be more thrilled that they asked us to join them.”

The partnership will deliver more exposure to early-stage blockchain and crypto startups for DVN, as well as provide GHV with a larger global entryway for investment opportunities.

“We are humbled and excited to gain access to a vast network of funds and resources that not just GHV, but also our portfolio companies will benefit from directly,” said Josef Holm, Founder of GHV.  “This takes our strategy of amplifying and exposing the work of the best blockchain entrepreneurs in the world to a whole new level.”

About Goren Holm Ventures (GHV)

Goren Holm Ventures (GHV) was founded in 2018 as a limited partnership between founders Alon Goren and Josef Holm. The firm has evolved to a venture studio, accelerating six startups and incubating 3 more, while simultaneously producing the premiere blockchain and cryptocurrency events in the Los Angeles area, Security Token Summit and Crypto Invest Summit. Sponsors for GHV events have included American Airlines, tZero, and eToro, and prior keynote speakers include Steve Wozniak of Apple, Anthony Pompliano of Off the Chain Podcast, and Shruthi Rao of Amazon Web Services. More information can be found at GorenHolm.com

About Draper Venture Network (DVN)

Starting in 1990, Draper Venture Network has grown into a self-governed organization of independent venture funds on four continents who cooperate on investment diligence, marketing

intelligence, corporate relationships, and co-investments. Draper Venture Network is a robust venture collective that brings together experienced investors with innovative entrepreneurs from around the globe to share strategies, source opportunities and create value. All member funds maintain independence while raising capital and managing investment decisions. More information can be found at DraperNetwork.com.

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Blockchain Platform For $100 Billion Luxury Brand Comes to Life Abeer Anwaar May 21, 2019

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Luxury brand conglomerate, Louis Vuitton and Moët Hennessy otherwise known as LVMH, has stepped into the blockchain space as it announced to launch a blockchain-powered platform, Aura, for authenticating high-end luxury goods.

LVMH, the owner of the iconic Louis Vuitton label, controls over 60 luxury brands across various categories like watches, jewelry, perfumes and cosmetics, fashion and leather goods, selective retailers, even wines and spirits.

The group reported revenues of $53 billion in 2018 only, in addition to Louis Vuitton, another LVMH brand Parfums Christian Dior, has struck a partnership with the blockchain software technology company, ConsenSys and Microsoft for their blockchain endeavor. LVMH recruited a full-time blockchain team, which purportedly has been operating in secrecy for over a year now, working in alliance with ConsenSys and Microsoft Azure.

READ ALSO: Ivy League Professor’s Crypto Has the Solution to Blockchain Scalability

The partnership resulted in the platform named, AURA, a cryptographic provenance platform specifically designed to serve the entire luxury industry with powerful product tracking and tracing services. According to the press release:

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.

AURA is a new blockchain, based off of the permissioned version of the Ethereum blockchain, called Quorum. Designed through JP Morgan’s partnership with the Ethereum Enterprise Alliance, Quorum specifically focuses on data privacy as well as transparency.

READ ALSO: JPM Coin is the Evidence of Trust in Blockchain Technology

The technology can store unique information about every product stored on a shared ledger and customers are then able to use the brand’s official application to obtain a certificate, offering details about its background. According to reports, AURA will also offer ethical and environmental information, instructions for product care and warranty services. It is expected to go live later in May or June with Louis Vuitton and Christian Dior initially, however, it will be extended to LVMH’s other 60-plus luxury brands and eventually those of its competitors.

READ ALSO: “Blockchain is Useless” Crypto Community Reacts to CTO’s Remarks

The team behind AURA hopes that in the near future it will be used by rival luxury brands as well, which will enable them to offer tailor-made services and strengthen customer loyalty. According to Ken Timsit, managing director of ConsenSys Solutions:

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.

Although not much was revealed regarding the platform but it is expected that AURA will be used to prove the authenticity of LVMH’s luxury products, allowing for the tracking of origins to the point of sale. The second stage of the project, according to reports, will explore the protection of creative intellectual property, in addition to exclusive offers, events for customers and anti-advertising fraud.

READ ALSO: Coffee Over Blockchain – Starbucks & Microsoft Tracks Production

However it is not the first to propose the idea of an authenticity-tracking blockchain, there are other luxury brands provenance platforms out there. The French startup Arianee claims to be building perpetual relationships between brands and owners made of trust, respect and transparency. The startup boasts former employees and advisors from luxury brands such as Tiffany’s, Omega, Balenciaga and the Richemont group.

READ ALSO: PepsiCo Gets 28% Efficiency Boost Through Zilliqa Blockchain

The team behind Arianee created a new blockchain, which was a copy of Ethereum, thus combining both permissioned and permission-less elements through its use of a consensus mechanism, it’s calling “proof-of-authority.” It is permissionless in the sense that users who are interested in selling their products to one another can interact with the blockchain, but the verification of the ledger and issuance of new tokens is controlled by the participating businesses.

Furthermore there have been other high-end brands that are turning to blockchain technology for the reason of provenance. Recently, the premium scotch whiskey brand Ailsa Bay, which is owned by William Grant & Sons (WG&S) and has yearly revenue of about $80 million, was in the news for releasing world’s first scotch whisky tracked with a blockchain-based system.

READ ALSO: Pharma Meets Blockchain – Solution to $450 Billion U.S. Industry

 

source:coindesk

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Blockchain group in New Zealand requests official govt blockchain strategy

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Blockchain NZ the New Zealand based blockchain industry group, announced that they are requesting a national blockchain strategy from the government, according New Zealand news outlet Scoop Independent News.

Mark Pascall, the executive director of Blockchain NZ is set to give a presentation next Thursday to the New Zealand parliament’s economic development, science and innovation select committee hearing on potential economic advantages of implementing blockchain technology solutions in New Zealand.

The presentation is set to just be an introductory seminar that will feature blockchain, Bitcoin, smart contracts, security tokens, and decentralized autonomous organizations. Pascall spoke further in depth on his mission for blockchain in 2019 and what this presentations purpose is:

“So, we really want government to take blockchain seriously and produce a strategy. We can help them with that so we strike a balance between trying to plan for an unpredictable future and taking some action so we realize huge potential economic benefits for the country.”

Blockchain NZ consists of an array of blockchain oriented businesses, organizations and experts, first formed in 2016. Blockchain NZ is working toward getting New Zealand to join the likes of other countries that have national blockchain strategies implemented.

Source.chepicap

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