A cryptocurrency-related startup known as Arianee is working in a multi-brand luxury items registry platform. The system, which is based in blockchain technology, allows users, curators and brand managers, to give important data so as to solve the problems that luxury brands are facing nowadays.
Of course, it is very common to hear that some luxury goods are being counterfeited, and this is a big problem for the industry. Some counterfeiting companies invest important sums of money trying to make similar goods to those sold by brands like Hermes or Louis Vuitton.
At the moment, there are some methods that these enterprises use in order to avoid the problem of counterfeit goods. For example, they have exclusive serial numbers and tags, and more. But it is not enough to stop the issue.
It is possible to fake serial numbers and NFC tags, and here is where a blockchain platform would be useful to have a registry of these items. Arianee will be built on the Ethereum blockchain and will be powered by the ERC-721 protocol – which is used by the famous collectible game known as CryptoKitties. Each of these goods will be classified as a token, each of them with their own characteristics and traits that will let them be differentiated.
The main intention is to register every single item sold by the vendor at the time the purchase is done. Moreover, this registry can be useful for second hand sales, conforming to the parties involved that the items are original. The important information will be stored on the blockchain and can be be used by other brands to certify the authenticity of special and specific items.
Arianee will be working with curators and maintainers to offer incentives for support work. At the moment, the company did not disclose the brands that will be using the platform. But the project already shows how versatile the technology can be to address a wide variety of problems.