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Blockchain for Luxury goods

Updated: Apr 29, 2022

The luxury industry fights against counterfeiting

Counterfeiting has always been the number one enemy of luxury goods and is now spreading to new markets such as second hand, which is why the major luxury houses are choosing blockchain to protect their products as well as their customers. The blockchain is a decentralized technology based on several independent entities, whose data stored inside are unforgeable, unchangeable and non-erasable. Blockchain thus provides enhanced security for the storage of information and allows the creation of digital certificates of authenticity for luxury goods, for example. These certificates of authenticity are transmissible (if there is a resale, donation, gift, etc.) allowing to keep a link with the new owner and consequently, guarantee the value of the product.

Blockchain, the new ally of luxury

Our society is moving more towards change: carrying different bags from various luxury brands, opting for rare products, buying and reselling as the seasons change. This is why the second hand market has been growing rapidly for several years. It is the perfect place for counterfeit specialists, many individuals buy counterfeit without knowing it, this is the case of 37% of French people in 2018 according to IFOP.

All luxury sectors are starting to have an interest in blockchain, such as watchmaking, jewelry, automotive, fashion, etc. The storage of product information on the blockchain can contain information that will enhance the trust between the customer and the brand.

Kalima's solution for Luxury Goods/ Brands

Kalima Blockchain enable developers and makers to develop Distributed applications (Dapps) in many areas. With Kalima Blockchain they are safer, provides more innovative business models than applications developed with traditional tools, and have lower development costs and delay.

By registering a product unique marking in blockchain, a luxury brand can track and permanently record every step in a product lifecycle. This includes location origin, repairs and characteristics.

Brands that implement such a process can increase the value of the product and make customers more willing to buy online.

Blockchain used to track goods in the supply chain, will show in a transparent way the ownership and the transfer of ownership of goods among peers in the same network.

#Kalima #Blockchain #IoT

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