Louis Vuitton, Cartier, and Prada have deployed a blockchain solution that will help to provide authentication for their luxury products

Moët Hennessy Louis Vuitton (LVMH), Cartier, and Prada have partnered to deploy a blockchain solution that allows their customers to obtain an extra seal of authenticity for their goods.

The partnership brings together some of the leading luxury brands in the world. According to the joint statement issued by the companies, they will use the Aura Blockchain to track their products and provide a certificate of authenticity.

The blockchain solution will be available to the brands to provide shoppers with the assurance that the goods they are buying are authentic. The solution also makes the products traceable, ensuring transparency in the business.

LVMH managing director Antonio Belloni explained that the solution would provide an encrypted certificate of guarantee. The encrypted certificate will help customers know whether a product is an original or counterfeit. He added that although such certificates have been in the luxury industry for years, blockchain’s reputation as an unhackable technology makes their solution superior.

Cartier chief executive officer Cyrille Vigneron pointed out that the Aura Blockchain is still young and has room for growth. The company is already familiar with the solution after using it for its online return feature. It allows shoppers to snap a picture and upload it on the blockchain to prove the condition of a product is still acceptable.

Belloni added that the partnership is a way to set an industry standard rather than have each company develop its individual solution. He added that Aura is in talks with other luxury brands, but didn’t reveal which others could be joining the consortium.

According to Belloni, rivals cannot access the client data encrypted on the blockchain. “Trust is the one key on which our industry is founded and one we really want to preserve,” he added. The deployment of the technology will make it easier for people to resell luxury goods on the secondary market since there is a certificate of authenticity.

Despite having adopted a blockchain solution, the two executives said they are not ready to accept cryptocurrencies as payment for their luxury products.

This post was originally published on Coinlist.