Luxury Fashion House Launches Blockchain Authenticity Platform
The platform uses digital product passports to verify the provenance and ownership history of high-value items.
A leading luxury fashion house has unveiled a blockchain-based authenticity and provenance platform, issuing digital product passports with each new item that record material sourcing, production location, and the complete chain of ownership as the product changes hands over time.
The system is designed to combat the estimated €30 billion annual market in counterfeit luxury goods and provide customers with independently verifiable documentation of their purchase's history, including any resale or consignment transactions.
The platform is built on a private permissioned blockchain and will initially cover the brand's leather goods category before extending across its full product range over the next 18 months.
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