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Startups provide their own solutions to the problem
Arianee, rated by Early Metrics in 2019, has made a name for itself in this space. The startup develops a blockchain platform for luxury brands to authenticate their products digitally. Each luxury item gets its own digital certificate with encrypted records that capture all of the product’s details. These include the acquisition dates, insurance, materials and more. Product owners can register their items on the startup’s app, which are then. reviewed by the startup or a third party for validation
The startup’s advisors include executives from Richemont International and Balenciaga. It also bolstered its position on the market by landing several reputable clients. Arianee recently announced that Vacheron Constantin will be delivering all its watches with the startup’s blockchain-based certificates by 2021. Other clients include BREITLING, Audemars Piguet, Roger Dubuis and Mugler.
Shanghai-based VeChain also develops a blockchain platform aimed among other things at fighting counterfeiting. The startup placed in the top 1% of Early Metrics’ rated startups and has secured clients such as LVMH and Givenchy. Chainvine is another example of an up-and-coming rated startup providing bespoke blockchain services. One of its main services is the integration counterfeit prevention in the supply chain of wine producers and other food and beverage players.
Luxury brands using blockchain to fight counterfeitingArianee, rated by Early Metrics in 2019, has made a name for itself in this space. The startup develops a blockchain platform for luxury brands to authenticate their products digitally. Each luxury item gets its own digital certificate with encrypted records that capture all of the product’s details. These include the acquisition dates, insurance, materials and more. Product owners can register their items on the startup’s app, which are then. reviewed by the startup or a third party for validation
The startup’s advisors include executives from Richemont International and Balenciaga. It also bolstered its position on the market by landing several reputable clients. Arianee recently announced that Vacheron Constantin will be delivering all its watches with the startup’s blockchain-based certificates by 2021. Other clients include BREITLING, Audemars Piguet, Roger Dubuis and Mugler.
Shanghai-based VeChain also develops a blockchain platform aimed among other things at fighting counterfeiting. The startup placed in the top 1% of Early Metrics’ rated startups and has secured clients such as LVMH and Givenchy. Chainvine is another example of an up-and-coming rated startup providing bespoke blockchain services. One of its main services is the integration counterfeit prevention in the supply chain of wine producers and other food and beverage players.
This is just the first step. Once brands themselves adopt blockchain to certificate the origin of their goods to customers we will have the assurance the world is moving ahead in blockchain adoption. It's easy to fake a paper, a seal or package, but you it's not possible to fake blockchain data which can be accessed by anyone in real time. A very smart usage for blockchain, indeed.
