The Aura Blockchain Consortium wants to build a better future for the luxury sector by building trust, improving transparency, and engaging brands to become more responsible.
The Aura Blockchain Consortium is the first initiative led by luxury brands that transcends traditional boundaries to become a technology hub for brands. Founded by LVMH, the Prada Group, Cartier (of the Richemont Group) and the OTB Group, Aura SaaS, a game-changing cloud-based SaaS solution, is launched. The Aura Blockchain consortium currently has more than 15 million digital tokens on its own private, permission-based blockchain platform, which offers upstream and downstream supply chain traceability.
Aura SaaS is intended to be the first blockchain-based platform designed for luxury brands to help the industry adopt blockchain in its daily business operations, including supply chain, customer service, marketing, manufacturing, sustainability, purchasing, logistics or legal.
Aura SaaS is a no-code solution that enables rapid implementation with lower upfront costs, as Aura SaaS users benefit from lower licensing and startup fees. Alongside the Aura SaaS solution, the Aura Blockchain Consortium is also developing a suite of turnkey, out-of-the-box tools that can provide luxury consumers with data visualization on the blockchain. For example, brands could offer more transparency on their credentials by giving consumers the ability to visualize where the materials used in manufacturing came from.
Commenting on the launch, Daniela Ott, secretary general of the Aura Blockchain Consortium, said, “Our ecosystem is growing daily and Aura’s solution covers the entire luxury production and consumption lifecycle. Aura SaaS provides a game-changing toolkit for the luxury industry with easy onboarding, minimal costs and without the need to manage a cloud infrastructure and deploy an instance, reducing the Time-to-Market to launch new blockchain use cases. This solution is designed to last and benefit the entire value chain. Given its accessible price point, it is a suitable solution for luxury brands of any size, for most product categories in the luxury sphere.”
Featured photo : © Aura Blockchain Consortium